It’s been just two days and each group of our students has already started not just one, but two mini businesses! A market simulation and app simulation gave students the necessary tools and skills to conduct market research, come up with a MVP through prototyping and receive customer feedback.
In the market simulation, students created product-based companies and brought them to the “market” in order to experiment with pricing and differentiation of their products. Each team identified a key product and tried to sell it to classmates and maximize revenue.
Then, students created different an app-based business solution for stress and time management issues among high school students and presented them to MIT Launch team. These two simulations were just the first steps on this month long entrepreneurial journey.
Phil Libin, CEO of Evernote once said “There’s lots of bad reasons to start a company. But there’s only one good, legitimate reason, and I think you know what it is: it’s to change the world.” Following these two simulations, today our students kicked into high gear and started working on 19 big problems and we believe their solutions have the potential to make huge impact. We are so looking forward to the upcoming week and we wish you all good luck in changing the world!