Week One Fun's Now Done

Peru Summer 2014 Blog

Written by: Natasha Consul

July 29, 2014

Today marks the start of the second week of the program. Last week, there was a large focus on idea generation. For one of our activities, the student entrepreneurs broke into gropus and brainstormed ideas on how to improve Arequipa's traffic issues. Some great out-of-the-box ideas included creating a bike rental system with bike lanes, using smart traffic sensors to direct traffic based on realtime conditions, and GPS tracking for buses/taxis to monitor good driving. Some really out-of-the-box ideas included using jetpacks and zip-lining as alternative forms of transportation. One key take-away point was to think big at first: quantity, not quality, and then to reel it in later.

Another important lesson from last week was elevator pitches. Being able to pitch your idea quickly, in the time it takes to go up or down an elevator, is important when seeking investors and partners. A good elevator pitch has the following 9 qualities: Concise, Clear, Compelling, Credible, Conceptual, Concrete, Customized, Consistent, and Conversational. To wrap up the week, the student entrepreneurs practiced incorporating the "9 C's" in their very own 2-minute elevator pitches on Friday, in prepartion for this afternoon's speed dating activity. I'm looking forward to seeing what comes out of today!