Every other week, Technovation hosts a “Business” meeting where their motive is to teach their members core skills needed to form and successfully plan the business aspect of their app. In this meeting specifically, their objective is to aid members in brainstorming and choosing an idea to develop.

Upon entering the first meeting, not many people expect that technology, which is hinted strongly in the name of the club, would only comprise of less than half of the necessary skills needed to succeed. Business, on the other hand, when compared to the technological aspect of the challenge, has a larger emphasis.

“Based on the challenge itself, there is definitely a bigger entrepreneurial aspect to it,”vice president and senior Ruoyon Zheng said. “They are really focused on what your idea is.”

The vital information that members receive out of these business meetings will be crucial to their future success since entrepreneurial prowess is the deciding factor in whether participants move on or call it a season. The first competition in which members will be utilizing their entrepreneurial skills is the Regional Pitch. During this competition, members are required to present their business plans in front of a panel of judges. The business plan, which is extremely comprehensive, details the market analysis, balance sheet which is a sheet detailing budget, product description and customer description of the app.

“The business plan is extremely important,” vice president and current senior Johanna Karas said, “Because if you win, you receive $10,000 to actually develop your app.”

With only five months before the competition season, Technovation faces the challenge of covering their vast curriculum within a short period of time, and they have done so in a very educational and professional way.”

“The technological aspect is really included in the entrepreneurial experience because entrepreneurs have to find a way to execute their ideas.” said President Carol Wang.