Exercise Day 3 EN

Title of the exercise: Build Your Own Startup with Business Model Canvas

Objective:

This exercise is designed to introduce the students to the concept of the Business Model Canvas (BMC) and help them understand its nine blocks. The students will then create their own Business Model Canvas for a hypothetical startup.

Duration: 2 hours

Materials Needed:

Paper and pen for each student

Large sheets of paper or poster boards for each group

Markers

Post-it notes

Procedure:

Introduction (15 minutes)

Begin with a brief explanation of the Business Model Canvas and its importance in planning and visualising a business model. Introduce the nine blocks of the BMC (Customer Segments, Value Proposition, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure).

Part 1: Understanding the BMC Blocks (30 minutes)

Give each student a printed copy of a blank BMC. Walk them through each block, giving examples for each. Encourage students to take notes on their BMC printouts during the discussion.

Part 2: Group Activity - Creating a BMC (60 minutes)

Divide the class into groups of 4-5 students. Give each group a large sheet of paper or poster board, markers, and post-it notes.

Each group should come up with a hypothetical startup idea. It could be a product or service of their choice. Give them 10 minutes to brainstorm.

Using the startup idea, the groups should then create their own Business Model Canvas on their large sheets of paper or poster boards. Give them around 45 minutes to complete this task.

Part 3: Group Presentations (30 minutes)

Each group should present their Business Model Canvas to the class, explaining their reasoning for each block. Give each group around 5 minutes to present.

Conclusion (15 minutes)

End the session by summarising the importance of the Business Model Canvas in planning a startup. Encourage the students to use this tool in their future entrepreneurial endeavours.

Outcomes:

Students will understand the concept of the Business Model Canvas and the purpose of each of its nine blocks.

Students will gain hands-on experience in creating a Business Model Canvas.

Students will enhance their teamwork, creativity, and presentation skills.

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