Launch Lab to help founders start businesses, nonprofits or tackle projects

Dec. 3, 2021

An upcoming Launch Lab is designed to help those starting a business, nonprofit or large project.

It will be hosted by Dakota State University’s Paulson Cyber Incubator and Entrepreneurial Center.

“Anyone who thinks they have a business or a nonprofit idea can benefit from this training because it teaches a process for evaluating any idea,” said Katherine Cota, director of economic development at DSU.

“A business will be more successful when the product and service solutions, customers and pricing are known. Not taking the time to do this research can be costly in time and money.”

The process also works for evaluating internal company projects and activities, she said.

The timing of the Launch Lab is strategically planned to conclude before the deadline of the Governor’s Giant Vision Competition; submissions for business ideas are due Feb. 28. The competition is an opportunity for South Dakota residents to explore ideas and benefit from expert advice and have the chance to win up to $20,000 in prize money.

“Launch Lab is a great way to keep companies progressing toward completion of the documents necessary for Giant Vision,” Cota said. Participants will be immersed in lean launch methodology and the business model canvas to determine if they have correctly identified the problem and potential solution.

Cota will teach the Launch Lab sessions, which will run from Jan. 10 through Feb.17; classes will be held from 4 to 7 p.m. Monday sand Thursdays. Attendees may take the classes in person at the Paulson Center on the DSU campus or by Zoom but must register for and attend the entire series because the material presented each week builds on the previous week’s information.

Those in the Launch Lab will be guided by a mentor and the course instructor, who will challenge assumptions each week. At the end of the process, the business team will have a minimal viable product that has been market validated.

Interested individuals or teams can register by emailing [email protected] by Dec. 10, at which time businesses will be selected for the Launch Lab session. Between Dec. 10 and Jan. 10, the participants will perform pre-work activities, including team-specific interview protocol homework and Udacity videos. University-based teams will take part in CITI training for Human Subjects Research certification and seek Institutional Review Board approval.

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Launch Lab to help founders start businesses, nonprofits or tackle projects

An upcoming Launch Lab is designed to help those starting a business, nonprofit or large project.

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