The training action is inspired by the American NSF I-Corps™ program; the winning teams will receive an award: a week at the University of Texas at Austin.
The initiative is called TechLaunch: From invention to impact, and 15 teams of entrepreneurs will have the opportunity to explore the economic viability of their business ideas and discover how they can introduce their technological solutions into the market. The training sessions are free and will take place online – between December 2024 and February 2025. The top three teams will have the opportunity to spend a week at the University of Texas at Austin, to continue the work of transforming their ideas into market solutions.
Applications for TechLaunch are open to all who want to explore and improve their business ideas, feel compelled to solve problems and create new business ideas. Applicants may be associated with universities, research institutes, technology transfer institutions and companies, provided that these organizations are in Portugal. Over several weeks, participants will have access to sessions focused on knowledge sharing, favoring the transfer of ideas into the labor market; they will benefit from experts’ support according to a bootcamp approach – designed to simulate fast-paced decision-making environments.
“We know that 9 out of 10 start-ups fail. And that most of these difficulties stem from the fact that there is no market need for certain products or services. With TechLaunch, which is inspired by the successful North American NSF I-Corps™ program, we aim to help entrepreneurs explore the economic viability of their business ideas and adjust their solutions to market needs through a customer-discovery process. We want to create a high-impact ecosystem where research results can be transformed into market-ready solutions,” said Marco Bravo, Executive Director of the UT Austin Portugal Program. “It is not only a matter of accelerating business, but also of cultivating a sustainable approach concerning innovation in Portugal, strengthening the relationship with the technological market through research,” he added. Marco Bravo also recalled that of the 15 teams admitted, three – the ones with the best performance – will be able to spend a week at the University of Texas (Austin). “The UT Austin Portugal Program will give the opportunity to the members of three teams to continue this exploratory work at UT Austin, fully exploring an ecosystem that is teeming with innovation – UT Austin is in the top 10 North American universities with the highest number of entrepreneurial alumni and is even pointed out as the new Silicon Valley”.
By submitting their application – the registration period is running until November 27 but will be subject to an evaluation process – participants can expect to develop entrepreneurial skills, in order to materialize their research into an innovative and impactful idea, build a better understanding of market value, master the customer-discovery process, understand industry requirements and challenges.
To ensure participation in TechLaunch: From invention to impact, candidates must comply with the requirements regarding the constitution of the team. These should include 2 to 4 participants, with three types of members: an Entrepreneur Lead (EL), a Technical Lead (TL) and a Team Mentor (TM). At least one EL and one TL are required to ensure eligibility of the application. More information can be found on the UT Austin Portugal Program website.
The initiative – starting on December 10, ending on February 21 and lasting a total of 40 hours in total – will consist of different types of online sessions.
Porto – November 20, 2024
For further inquiries:
Elsa Carvalho
Communication UT Austin Portugal
elsa.carvalho@inesctec.pt
M +351 934 224 331
