Solar-powered electric scooters, ready-made breakfasts for students on the go, and even a new sportswear brand which features North Korean athletes — the recent Pyongyang Startup Bootcamp had it all. Seven teams of up to ten ambitious locals spent days listening to talks by CE workshop leaders and crafted their business pitch. Using the Business Model Canvas as a framework, participants worked directly with our volunteers to perfect their value proposition, identify customer segments, consider their cost structure, and come up with marketing plans to reach their target groups. At the end of the workshop, each team presented their idea in front of the room and defended the feasibility of their proposals.
A talk about ideation and lean startup methods helped the North Korean participants develop their ideas, while two talks on branding covered the basic concepts of messaging and visual identity. Other talks discussed challenges of scaling a business and identifying market opportunities for sustainable growth. The result: Seven fully developed Business Model Canvases — some solid, some more than ambitious — with attractive branding and a passionately presented elevator pitch. Well done!