The Idea Lab is an eight-week program designed to help community members who have a business idea and want to proceed to move from idea to launch. Idea-stage stagnation is often due to psychological blocks, lack of structure, lack of accountability/deadlines, uncertainty about next steps, lack of resources, scope creep, difficulty prioritizing, and fuzzy value propositions. Getting objective feedback and support can help entrepreneurs take the next tangible steps! The new Idea Lab at the Polsky Exchange is designed to support community entrepreneurs moving toward launch.

The Idea Lab:

1. Provides framework and resources for aspiring entrepreneurs to validate and develop early-stage concepts.
2. Equips participants with knowledge and skills to create viable business models.
3. Connects participants to resources, mentorship, and networks to continue idea progression after program.
4. Motivates participants to take next steps to launching their ventures.

The program is composed of 2-hour in person sessions every week, including presentations, discussions, and group case studies. Outside of the sessions, participants have weekly assessments to conduct needs assessments, market research, create value propositions, business plans, conduct at least 20 user-testing interviews, and present their findings for discussion during class sessions.

The deadline to apply is Friday, January 5th at 11:59 p.m. If you need assistance or clarification while completing the application, please contact Barbara Agyapong at bagyapong@uchicago.edu. The program will begin in February 2024, and require an average of five hours each week for eight weeks.