Entrepreneurship in London
London has everything an entrepreneur needs to be successful. No matter the field, extensive resources are readily available to get companies started off on the right foot. From early stage startups to serial entrepreneurs, there are a range of guidance, mentorship and networking opportunities available throughout the city. The London Economic Development Corporation coordinates these activities and advocates for improving the entrepreneurial environment in London. Entrepreneurship is an economic driver, contributing $8.2 million to the London economy. To learn more about entrepreneurship in London, please visit www.ledc.com/entrepreneurship.
Student Entrepreneurship Centres at Western University and LEAP Junction Fanshawe College introduce students to the possibilities of starting and owning their own business. Brescia University College, which held Just Own It! bootcamp sessions this summer, is now taking a culminating step into their one-of-a-kind entrepreneurship program with the release of their educational, e-learning video series.
The ‘Just Own It!’ Entrepreneurship Video Series
To help teachers, facilitators, mentors, and others who work with entrepreneurial youth, Brescia University College has produced a series of entrepreneurship videos for use in high school classrooms and in boot camps, conferences, and other entrepreneurial education initiatives. These videos were developed with the support of the Government of Ontario Youth Employment Strategy and web.isod.es, an interactive digital video production company in London.
Just Own It! is a series of five videos that provide high school students with an introduction to entrepreneurship. The videos cover topics such as the traits of an entrepreneur, identification of a customer problem, development of a product, creating a business model, and pitching a business idea. High school students will relate to the quirky and engaging young entrepreneurs featured in the videos. You can find the series on Brescia’s Just Own It! YouTube channel.
The videos range in length from 6 – 8 minutes, ideal for use in a classroom environment. Each video comes with a complementary teacher’s guide of activities and learning outcomes, available for download at http://brescia.uwo.ca/justownit/videos.
Videos at a Glance
#1: So, You Wanna Be an Entrepreneur
Exploring the meaning of entrepeneurship, these students identify and challenge their ideas about who can be an entrepreneur.
Research suggests that entrepreneurs are well educated, have work experience, and are comfortable working in teams. Entrepreneurs are also creative, flexible, and work well in uncertain situations. While they are well educated, a business degree is not necessary, though it may be helpful.
#2: It’s a Plan
Entrepreneurs are more likely to notice consumer problems in familiar activities, so we encourage young entrepreneurs to find ideas in what they know. Then, using a business model canvas, entrepreneurs can map their business model to create a value proposition that has strong business logic.
#3: Being Validated Just Feels Good
This video explores the process of refining a value proposition and business model using customer discovery to improve the fit between the needs of the customer (the market) and the product service.
Often, entrepreneurs fall in love with their ideas only to find that customers aren’t interested in the product or service. Customer discovery helps entrepreneurs find this out before they have spent a lot of time, money, and emotion on a bad business idea.
#4: A Product of its Environment
The modern, lean startup approach encourages the entrepreneur to get feedback on their products or services throughout the design process.
Developing prototypes that customers and suppliers can interact with can help gather information to improve the design of the product.
#5: Pitcher’s Up
Students will learn about crafting the content of a pitch, developing the confidence and humility needed, and about how to tell their story.
A simple pitch includes the customer’s problem, the solution, a customer profile, how you will make money, and a call to action.
