class dates: January 29th (departure from home country) till February 10th (leave JFK on February 9th), 2017
program location: Columbia Business School in New York City
application deadlines and submission: December 31st, 2016
applications open: immediately
class size: 45
application process: applications will be reviewed on a rolling admissions basis (i.e. the sooner you submit your application the sooner it will be reviewed and an admissions decision will be made.
online application submission => phone interview => decision e-mailed out => Agreement signed and sent back => submit payment => registration complete
note: all admitted students will need to go through an interview
current school / company name:
school / company location:
current grade (not applicable to non-students):
(you do not necessary need to have a business concept or product idea; write N/A if this is the case)
current venture name:
(again, write N/A if you do not yet have a venture idea)
emergency contact information:
parent/guardian name (not applicable to candidates above 18 years old):
phone number: day
statement of interest & biography:
statement of interest & commitment to the program
Please use 100-300 words to state your goals in the next six months and why the Venture For All® program is critical to you at this time. Why do you want to participate in the Venture For All® program? What do you hope to achieve through the program; are you committed to completing the program?
100-300 word summation of your educational and professional ambitions. What do you hope to study in college or graduate school? Have you had any ideas for a new business, or have you recognized any opportunities for a new product/service/technology? If so, please describe them in brief.
Please respond to the following questions to the best of your ability. Participants are not chosen on the basis of the status or completion of their business plan and operations, so if a section does not apply or you have not yet undertaken it, instead include your plans for completing it. Aim to include 100-150 words per question.
What does entrepreneurship mean to you? Describe your commitment to entrepreneurship. have you ever thought of starting your own business, if so, for how long? What do you think you need to learn or know to be successful?
Describe your entrepreneurial skills: why do you want to be an entrepreneur, what entrepreneurial skills and professional/educational experience do you have, and how do you intend to achieve your entrepreneurial potential?
What does globalization and the internationalization mean to you? Would you like to study international business dynamics? Are you interested in attending a foreign university, or studying abroad? Do you hope to work for a company with an international reach, or would you prefer to stay domestically?
Do not worry if these do not apply to you, they are not required and are not factored into participant selection. They are asked so that instructors can have an idea of students’ business concepts prior to the start of class.
What opportunity have you identified, and why have you chosen to exploit it? Provide a brief description of your solution (your technology/product/service). What problem does your product, service or technology solve? How does your product, service or technology provide a solution to the problem?
Who will pay for this solution? i.e. who is your consumer? What is the growth in consumer demand and the relevant market and industry?
Have you formally embarked upon the venture planning process? Do you have a written business concept, feasibility analysis, business model, or business plan? If not, do you hope to do so through the Venture For All® program?
Initial after each stipulation, on the line provided, and hit submit at the end.
If I am accepted into and enrolled in the Venture For All® program:
I understand that I am required to participate in all ways and in accordance with the expectations listed in the program guide, and that I must attend all classes and required coaching sessions.
I will attend all additionally required course components and web events, such as the Pre-Program Orientation and the Pitch Fest, or any other mandatory activities.
I will keep up with the reading assignments, venture journals, and deliverables and will submit all materials by the due date listed in the detailed program offering.
I will reflect instructors’ and coaches’ commentary, feedback, and suggestions from all qualitative and quantitative analyses of my work in my final business plan, and be open to constructive criticism. I will ask for clarification on any issues I do not understand, or am having difficulty adjusting for and implementing in my subsequent assignments as well as my final business plan.
I will compose and complete a business plan for my venture, to the best of my ability, and it will include all required elements.
As a lifelong member of the Columbia Business School Venture For All community, I adhere to the principles of TRUTH, INTEGRITY, and RESPECT. I will not lie, cheat, steal, or tolerate those who do. If I fail to abide by these directives, I understand that my right to participate in the program is jeopardized and that I may be expelled from the program without a refund.
How did you hear about us?
Please visit www.itengcorp.com for complete and updated information.
visit Columbia Official Website for more information:
• ages 14-23 (High School students to University students)
• online application
• stringent English interview required
• eligibility determined by CBS registration partner - IEG Global Corporation (IEG) and CBS VFA personnel
• please visit www.itengcorp.com for application information
applications will be reviewed on a rolling admissions basis (i.e. the sooner you submit your application the sooner it will be reviewed and an admissions decision will be made.
online application submission => phone interview => decision e-mailed out => Agreement signed and sent back => submit payment => registration complete
note: all admitted students will need to go through a phone interview
medium class size: 40+ students
curriculum: for High school and University students who are interested in learning about Entrepreneurship, Innovation, Venture Creation and Business Model Development. 14 days spent at Columbia Business School (classroom to be held at Uris Hall and Warren Hall). Students acquire technical knowledge and skills in venture creation, industry and market dynamics, strategy formation, product development, leadership, operations, and finance. Participants also increase college level research, project management, communication, and team skills. Course content & readings customized to take into account regional cultures, business practices, market trends, and currencies. Entire course will be taught by full time Columbia Business School VFA Instructors/Professors.
nuts and bolts
program fee includes:
• lecture tuition
• registration fee
• travel health insurance fee
• course reading materials
• lodging (1-8 students per room); Winter at local hostel, Summer at Columbia University dormitories
• 24 hours chaperon service (current Columbia University students)
• 3 meals per day, at Columbia Dining Hall, hostel, or local restaurants
• group airport pick-up to and from JFK to Columbia University
• campus tour
• various New York City tour and Woodbury Commons during the weekend and weekdays
• CBS VFA full time professor teachings throughout the entire 2 weeks
• selected student ventures receive post program mentoring and support to help execute their plans
• official certificate of completion
• letter of recommendation that can be included in college and graduate school application package
Class Day One (AM)
Student Activity: Preliminary New Venture Ideas. The first part of class, students introduce themselves to the class and discuss their venture ideas that they plan to work on throughout the course. [Based on Pre-assignment]
Lecture: Course Introduction: In the second part of class, we will outline the course and provide an overview of assignments and class deliverables. We will discuss the venture creation process, from opportunity identification through execution.
Student Activity: Profiles of Entrepreneurs. Research and present findings.
Class Day One (PM)
Lecture: Introduction to Business Models: What are the 9 parts of a business model? What are hypotheses? What is the Minimum Feature Set? What experiments are needed to run to test business model hypotheses?
Student Activity. Generate preliminary Business Model Canvas with first iteration of the 9 components. Business Model Canvas Sheet (Blank Sheet for BMC assignments). In class discussion will follow. One-page concept summary of your venture idea & list of team members, if applicable. The summary should include an explanation of the problem or need the venture solves along with the target customer, your proposed solution to the problem or need, and the reasons why the customer will pay for your solution. Opportunity Evaluation. Evaluating your venture opportunity including. 1.Capabilities, 2. Novelty, 3. Resources, 4. Return, & 5. Commitment. Value Proposition. Take a comprehensive review of the value proposition that your venture is offering the customer. Look at five value areas: Product, Price, Access, Service, and Experience. Describe the customer and target segment you have identified.
Class Day Two (AM)
Lecture: Market Opportunity, Product-Market Fit. We will review how to define the value that your product or service is providing to the customer. We will look at five value areas: Product, Price, Access, Service, and Experience. During this discussion, we will talk about how to identify your customer, the person who will be willing to pay for your product or services. Who’s the customer? User? Payer? How are they different? Why do they buy? How can you reach them? How is a business customer different from a consumer? What’s segmentation? What’s an archetype?
Student Activity: Market Segmentation & Customer Archetypes. Identify priority market segments for your venture. Then, create a preliminary profile of your target customer, the individual who will be willing to pay for your product or service. Also, students will create five questions that they will ask customer proxies (family and friends). Students will present their profiles and interview questions in class.
Class Day Two (PM)
Lecture: Industry and Market Analysis. Discussion of industry and market characteristics (maturity, growth, drivers), market sizing, segmentation, growth, addressable and target markets. Where does the product/service fits in the overall market and how big an opportunity is it/can it be. What was your inspiration or impetus? What assumptions drove you to this? What unique insight do you have into the market dynamics or into a technological shift that makes this a fresh opportunity?
Student Activity. Industry Analysis. Identify the industry your venture falls under; specific geographic location (local, regional, international); Industry Lifecycle (emergent? growth? mature? in decline?); Size and Growth Rate (size of target customer base, forecasted change in demand); Regulatory Environment (political, regulatory, & other barriers to entry). Market Size*. Provide quantitative data on market and segment size. Market Segmentation. Respond to questions regarding target customer segments.
Class Day Three (AM)
Lecture: Competitor Analyses. Review all the issues that one must learn about both direct and indirect competitors. Students will learn steps required to identify the business model elements of their competitors, thus learning more about their industry, the competitive landscape, and potentially how competitors will react to your entry into the market.
Student Activity: Competitor Analysis Chart. Name top five competitors and provide the following information: Name, Age, Location,Products and Service Descriptions, Value Proposition, Marketing Mix, Facilities/Operations, Reputation, Profit Models, Profitability, Other Relevant Comments based on your venture.Students present information on competitive landscape on how they see their product/service offerings as unique. Generate a one page table. A second chart illustrates where your venture is positioned in relation to key competitors in critical product offerings and features.
Lecture: Strategy: Core Competencies, Competitive Advantage, and SWOT Analysis. Discussion regarding key concepts of strategy formation for new ventures.
Student Activity. Core Competencies, Competitive Advantage, & SWOT Analysis. Generate detailed SWOT analysis table for your venture based on your thinking regarding core competencies, competitive advantage over competitors, and other challenges from external factors.
Class Day Three (PM)
Lecture: Why New Ventures Fail So Often. Students will learn what are the key reasons that new ventures and new products fail and ways to mitigate these factors.
Student Activity. Comparing Successful Ventures with Failed Ventures. Student teams will select two entrepreneurial ventures in India, one that is considered a success the other a failure. Both ventures should be examples that are in the same or similar industries when possible. They will research the cases and present the findings to their peers.
Lecture: Product Development & Prototyping. What is your product or service? How does it differ from an idea? What’s the minimum viable feature set? How/where are you going to develop it? What are the milestones for production? What are the costs? What are the dependencies? What is current/potential competition and how is your product/service different/better. Can you protect your product from being copied by competitors?
Class Day Four (AM)
Student Activity: Minimal Viable Product. Create preliminary illustrations of minimal viable product (MVP1). Each venture will show their MVP1, explain on the MVP illustrates the essence of your value proposition for the defined target market, and discuss plans for soliciting early customer input. Product Development. Discuss product prototyping and development, intellectual property plan, initial product costs based on materials and labor estimates. Product Costs. What are the material and labor costs to produce product? Intellectual Property. Discuss overall strategy for protecting your assets, including technological creations, company brand, and other intellectual content.
Student Activity: Minimal Viable Product. Present to class, MVP1, discuss product features, costs, and development plan.
Class Day Four (PM)
Lecture: Marketing and Sales Strategies. Review of marketing strategy and mix elements; product, pricing, promotion & placement.
Student Activity: Marketing Strategy & Branding. Submit marketing strategy and marketing mix for your product or service. Discuss emphasis and balancing of Product, Price, Promotion, and Placement. Fully develop your pricing policies, taking into consideration expected demand and customer acquisition rate for your product, as well as the status of the industry and your competitors’ offerings. Sales/Channel Strategy. How will your venture sell its product? What sales channels will be used, and who are your salespeople: full time in-house employees, free agents, individuals contracted from an outside firm? Will you make use of e-commerce tools? How? Students will also learn about the importance of brand identification and messaging.
Lecture: Business Processes. Focus on identifying key activities, resources, and partnerships.
Student Activity. Business Process Identification. Students will generate a value chain process map illustrating primary and secondary processes required to execute your venture strategy.
Class Day Five (AM)
Lecture: Profit Models: Revenue, Pricing, and Profit. Focus on profit models, including revenue streams, cost structures, and pricing strategies.
Student Activity. Profit Model Assumptions. Submit list of key financial assumptions for revenues, costs of goods sold, and operational costs. For revenue model, forecasts should take into account customer acquisition rates, repeat sales, seasonality, and industry sales cycle. COGS should include detailed analysis of materials and labor costs. Operational expenses should be based on actual market rate costs, such as labor rates, property rental/purchase prices, equipment leasing rates, insurance costs, etc.
Class Day Five (PM)
Lecture: Financial Projections for New Ventures. Discussion on the challenges of generating predictions about your business.
Student Activity: Build preliminary revenue and cost projection tables for three years. List all assumptions.
If time allows, students will be exposed to:
Lecture: Social Responsibility and Ethics. Discussion on how socially responsible and ethical behavior enables new ventures, from both a business and innovation perspective.
Class Day Six (AM)
Lecture: Integrated Financial Statements. Discussion on the key elements of common financial statements and how income statements and cash flow analysis work together to provide a picture on how the business will operate
Student Activity. Financial Statements Submit integrated three-year financial statements including 36-month cash flow analysis. How much seed capital is needed and for what purpose? Use your financial assumptions and pro forma financials to evidence the need for the identified value.
Class Day Six (PM)
Lecture: Funding New Ventures and Sources of Capital. Sources of capital along with angel/venture capital/private equity structures will be explored.
Student Activity. Capital Requirements. What sources of capital will you use for your venture, and why did you select these sources? Will different sources be used at different investment stages? What percentage of your venture do you plan to offer to outside investors, if any? Sketch out a term sheet outlining your venture’s capital needs, the amount of the company you are interested in selling (e.g. number of shares or what percentage of the total shares), and any other negotiation terms you consider important.
Lecture: Leadership and Team Management. Discussion on the challenges on working with team members in a start-up, new venture environment.
Lecture: Business Planning Documents and Effective Pitches. Review of criteria for effective executive summary of venture plan and what should be included in an effective venture presentation.
Pitch Practice Time. Students have time to practice their final venture presentations.
Class Day Seven (AM and PM)
Final Venture Pitches & Q&A. Students will present their new venture ideas to instructors and visitors. Time will be allotted to ask each student questions about their venture idea.
Program Evaluation; complete program evaluation form; graduation activities.
Dr. Jack McGourty
Jack McGourty Ph.D. is Director of Community and Global Entrepreneurship at the Columbia Business School and a faculty member teaching graduate courses in entrepreneurship, innovation, and technology management. Prior to joining the Columbia Business School, Jack was Vice Dean at The Fu Foundation School of Engineering and Applied Science. Over the past 14 years, Jack has been an active member of the University's entrepreneurial community, establishing an undergraduate minor in entrepreneurship, teaching core courses in entrepreneurship, and inaugurating the Columbia Venture Competition and Res,Inc., an innovative residential program for student entrepreneurs. In 2009, he launched the federally funded Columbia University-Harlem Small Business Development Center, offering technical assistance to local entrepreneurs and small business owners. Jack is the driving force behind In-V-Ent-Ed; and Venture for All, new programs designed to educate aspiring entrepreneurs and build capacity for high potential start up ventures in emerging markets, with the ultimate goal to enhance entrepreneurial ecosystems in support of regional innovation and economic development. Jack received his Ph.D. in Applied Psychology from Stevens Institute of Technology with a focus on the management of technology and innovation. Over the years, his research findings into product development processes and product innovation have been implemented by a number of industrial and government organizations including 3M, Chrysler, AT&T, the U.S. Army, Intel, and Honeywell. Prior to coming to Columbia in 1998, Jack was a senior executive and board member for a large publicly traded company. During his tenure, Jack held several senior positions including vice president of human resources, executive vice president of operations, division president, and company president & chief operating officer. He was also the managing principal of Assessment Alternatives Inc., a consulting firm providing programs and services to medium and large technology companies on innovation and product realization best practices.
Dr. Clifford Schorer
Director, Entrepreneur in Residence
The Eugene Lang Entrepreneurship Center
Professor Schorer is a serial entrepreneur who specializes in the start-up acquisition and development of small and mid-sized companies. He focuses on businesses with unique ideas or technologies that are in need of guidance during their initial growth phases. Cliff has been involved with companies in the high tech arena, his last position being CEO of GeoVideo Networks, a Lucent Technologies Venture. Prior to that his career included businesses in the real estate, office-supply and health care industries. During the early 1990's he spent a considerable amount of time in Russia using his entrepreneurial approach to assist in the privatization process During his extensive professional career, Schorer has lectured in numerous business and academic forums both in the United States and abroad. He has developed financial management software programs for business education through his publishing company Bized.
Dr. Murray B. Low
The Eugene Lang Entrepreneurship Center
Professor Low is an experienced entrepreneur and a leading authority on entrepreneurship in independent, corporate and not-for-profit settings. As the founder of the Columbia Entrepreneurship Program, he has worked to make entrepreneurship a viable career option for MBA graduates. He has also worked to improve business education in developing countries, particularly in Africa. Low consults to both small and large companies, family businesses and not-for-profits. He teaches executive seminars in the areas of entrepreneurship and strategic management and makes frequent presentations to academic and industry groups. He has published widely in academic and practitioner journals and is a regular commentator in the media.
Dr. Anthony C. Webster
Lecturer in the Discipline of Finance
Anthony Webster is a Lecturer in the Discipline of Finance in Columbia University's School of Engineering and Applied Science, where he teaches Introduction to Accounting and Finance and Decision Models and Applications. He also teaches Decision Models at Columbia's Business School, in both the MBA and Executive MBA programs.
Mr. Webster is president and senior portfolio manager of West End Advisors, LLC, which provides investment management and financial planning services to individuals and institutional investors. He has authored books on technology and construction economics, published extensively in leading technology journals, and served on the boards of high-growth companies and leading technical publications.
Mr. Webster earned an MBA in finance from Columbia University's Business School, an MS in Engineering Mechanics from Columbia University's Engineering School, and a BS in Applied Science in Engineering from Rutgers University (summa cum laude).
Lecturer in the Discipline of Digital Marketing
President of McQuade Marketing, a marketing & business development company, with expertise in providing branding & marketing services across many business verticals. Due to his strength in marketing and business development, Daniel has founded companies that have been thought leaders and pioneers in developing change in old industries such as the first to market a nationally branded and certified Natural Light Beef Company, founded a for-profit supermarket cooperative company, and led a seafood start-up to become the largest processor of its type in the US in 7 years.
Additionally Daniel has learned from the ground up how to run full-scale consumer branding programs from conception through commercialization including brand strategy and positioning, product development, packaging design, category management, the logistics of getting it on-shelf and also developing promotions utilizing emerging digital technologies to deliver sustainable product movement.
Throughout the course of his career, Daniel has worked with and volunteered at many non-profit organizations in capacities ranging from being a founder, president, executive board member and trustee along with providing over $5M in grants to a wide range of non-profits institutions focusing on education, and health and wellness programs. Daniel has been a noted speaker and marketing counselor for the Columbia-Harlem Small Business Development Center and continues to present workshops on marketing and branding to new business entrepreneurs and expanding small business ventures at Columbia Business School.
Greg Van Kirk
Lecturer in the Discipline of Management and Entrepreneurship
Greg Van Kirk is the co-founder of Community Enterprise Solutions, Social Entrepreneur
Corps and NDS Consulting. He also recently assumed the role as Director of Social Venture at Smart Vision Labs. He is an Ashoka Lemelson Fellow, Ashoka Globalizer and was recently
recognized as Schwab Foundation "Social Entrepreneur of the Year for 2012 (Latin America)" at the World Economic Forum. These are all ventures whose mission is to design and implement social innovation responses to long-standing development challenges. Greg is the innovator who designed the MicroConsignment Model. He has served as a consultant for organizations such as USAID, Chemonics, VisionSpring, Soros Foundation, Church World Service, IADB, Water For People and Fundacion Paraguaya in the US, Latin America and Africa.
Greg also contributes time as “Social Entrepreneur in Residence” and has recently worked with Columbia University, NYU, Marquette University, Indiana University, University of San Diego and Arizona State University. He is a senior advisor for AshokaU. He has taught social entrepreneurship at Columbia University and NYU. Greg began working in rural small business development as a Guatemala Peace Corps volunteer in 2001. He worked in investment banking for five years before arriving in Guatemala. Two deals he led at UBS during this time won "Deal of the Year" honors from Structured Finance International magazine. Greg is a graduate of Miami University and currently lives with his family in New York City.
Lecturer in the Discipline of Technology and Entrepreneurship
Manoj Pooleery has been working at the Center for Computational Learning Systems since June 2008. He is the Director of Technology, Business Development and Entrepreneurship. In his role, he is responsible for working with the research scientists to identify and build potential products for commercial use. He is also responsible for providing program management oversight to a host of external client facing projects and building up the internal framework to facilitate the smooth functioning of all research projects. In addition, he interfaces with potential business partners to identify business projects where the center's research can be utilized.
Prior to CCLS, he was the Chief Architect at Cigna International Expatriate Benefits, a Health Insurance provider for expatriates. He defined and implemented the Enterprise Architecture strategy for the organization. He was with Synygy Inc, an Enterprise Performance Management organization prior to Cigna. He was with them for about 4 years. He was part of the initial team that established the company's presence on the web and played a crucial role in making them the market leaders in the web-based EPM software arena.
He holds a Masters degree in Computer Applications and a Bachelors in Physics from Calicut University, Kerala, India and an Executive Masters in Technology Management from the Columbia University.
Lecturer in the Discipline of Marketing
Chief Sales and Marketing Officer Framework Consulting Group, has helped recurring revenue businesses get customers for over 20 years. He has used his experience as a Chief Sales Officer, CMO, and business unit GM to develop the Whiteboard Go-To-Market Roadmap©, a process driven approach for growing revenue.
Craig has grown businesses in Fortune 500, venture capital, and private equity environments. This includes growing Richard Branson’s startup Virgin Mobile from launch to 2M customers and $1B in revenue as head of sales, increasing value 300% at private equity owned Velocita Wireless as Chief Sales and Marketing Officer resulting in a sale to Sprint Communications, adding 3M customers and increasing profitability 26% as head of AT&T’s $3.5B international consumer business, and creating new multi-million dollar revenue streams as Senior Vice President at American Express and Managing Director at Deutsche Bank.
Craig’s unique expertise is combining broad market experience with a process and quantitative driven approach to getting customers. In addition to being an experienced public speaker in his field, Craig is currently authoring a book that provides a practical set of frameworks and templates for going-to-market. Craig received a B.S. Electrical Engineering degree from Worcester Polytechnic Institute, his MBA from University of Houston, and taken postgraduate courses at Wharton and Harvard. He also is an advisor to Columbia University, Worcester Polytechnic Institute, and St. Joseph's University.