Under the Patronage of
Vice-President and Prime Minister of the UAE and Ruler of Dubai
14:00 - 17:00
Startup Workshop 8 (Connectology) - Zero Risk Startup
Zero Risk Startup
Part 1 & 2
Most of the companies fail to raise funds. Why? Investors and companies have no money to invest?
The correct answer is – too much risk! The real dilemma lies on the border of potential and reality. Potentially, all the projects are great, but in reality, there are RISKS warning about poor execution of the idea. What entrepreneurs and intrapreneurs tend to forget is that even the best idea in the world is worth zero, when there is zero execution.
Based on the real life examples, this short workshop will teach the participants to understand, identify and avoid main risks in any project, which will significantly increase chances of getting an investment or an approval by a management board.
Special attention will be given to behavioural risks of entrepreneurs. Overconfidence bias in entrepreneurs can have serious implications on business decision making process, leading to Startup failure. Lack of confidence and wrong estimation of business probabilities and entrepreneurial skills, on the other hand, can result with no action at all.
Serial entrepreneurship in startup world is more often a synonym for serial failures, rather than successes, as more than 50% of startups fail within 5 years of their incorporation. When a startup fails, a so-called startup postmortem reports the reasons for the failure, such as running out of cash, no market need, or incompatible team. Looking beyond just the business reasons for failure, it is possible to identify certain behaviors and cognitive biases which kill startups. During the workshop, we will discuss the most common startup related biases as well as debiasing techniques to minimize their effect.
15:30 - 17:00
Startup Pillar Session 1 – Startup’s nurtured by Accelerators and Incubators
- What role do accelerators and incubators play in Start-Up, and how do they prepare them for the future?
- Lean Startup Approach: Emphasized heavily by Incubators and Accelerators.
- How Can Startups make the most out of Accelerators?