Congratulations on your freshly founded and motivated team. We are thrilled to see your individual and collective development during the coming weeks. Before you dive deeper into the business world and focus on the final pitch, we advise you to discuss important terms and phrases, which will be needed for the further process. Have in mind that not every team member has the same academic background and therefore it is crucial to find a way of effective communication.

In the beginning of the founding process, we strongly advise you to create a common ontology for your team. This leads to a common understanding and imagination of terms and phrases used as an entrepreneur within your team. Discuss the following terms within your group to get a common understanding of basic terms you will use in the next weeks and explain them briefly in written form. Use scientific sources to support your explanations. Refer to the “scientific guidelines” proposed in the kickoff presentation for the concrete style of citation and scientific work.

• Incubator
• Innovation
• Venture Capital
• Startup
• Budget
• Market
• Revenue
• Unique selling proposition (USP)
• Value proposition
• Unicorn (in the sense of Startups)

Workload: 2-3 pages

Format:

When you have finished the first task, you can go further and create a mind map of the terms, which were introduced in Task A2.1. Additionally, add at least 5 more terms which are in a relation to the terms given. Explain the connections between the single terms briefly (1-2 sentences per additional term) and add a definition of the additionally added terms.

Workload: At least 1 page

Format: PDF

Work out the definition of ecotourism. To enhance this perspective also explain Key Elements of the ecotourism and reflect possible activities for eco tourists visiting Albania.

Workload: At least 1 page

Format: PDF

Have in mind the workshop on the 18th May 2022 from 09:20 -12:00 and ensure that all team members attend the event. You are going to set a framework for the ongoing incubator program and for the final pitch competition. As preparation for the workshop work out the basic elements of a platform business model. You can orientate yourself on the following key questions:

• Work out the theoretical background of platform business models. What is unique for this special kind of business in comparison to other types?
• Name famous examples of platform business models and analyze what are the key success factors and compare the business idea with the traditional implementations of those businesses. (Example: Uber vs. Traditional Taxi)
• Which opportunities and limitations do platform business models have?

Workload: At least 1 page

Format: PDF