The next couple of weeks will be an exciting one for us at Mckingtorch Africa as our founder and CEO will be taking sessions at the College of Engineering Center for Entrepreneurship as I work with students taking the Urban Entrepreneurship Course at University of Michigan in the United States of America. Students will participate with an interdisciplinary team to develop, validate, document, and pitch the Mckingtorch Africa business model that is addressing an important urban community need.
A business model is distinct from a business plan, in that the business model captures the “design” of the business, whereas the business plan is a more detailed document that describes how the business will be executed. Student teams will be paired with Mckingtorch Africa (Urban Entrepreneur Partner) that is already working to address a significant urban community need. The teams will focus on applying technological innovation and business model development processes to improve the existing business and make it sustainable, scalable, and possibly even disruptive. Participate in a preparatory recorded interview (approximately 1.5 hours) with course instructor or designee to share the business story and business model as background information for the students. Participate in a classroom discussion of the business.
This session will give all students in the class an opportunity to know the entrepreneur and the business model. Hold an “office hours” session (via Zoom) with the student team for at least one hour per week. The class will engage with urban entrepreneurs, community organizations, city officials, and other stakeholders to gain a fuller understanding of the issues and challenges facing urban residents and urban entrepreneurs. Team members will also spend time validating the business model by performing research and conducting interviews with marketplace stakeholders. How can entrepreneurs apply technological innovation to create sustainable, scalable businesses that improve urban quality of life? This is the question we will work together to answer in the Urban Entrepreneurship course.https://youtu.be/5KU5zFCLIBE