Permission to launch Startups and The Hult Founders Lab

Written by Becky Hinchliffe,  a Hult contributing blogger. It’s the dream of many students entering a business degree to start their own company, but without the right tools, entrepreneurship can remain just that–a dream. Launching a start-up takes expertise and connections that young business people don’t usually have at the beginning of their careers. Financial resources, well connected investors, and an idea that really works are all hard to come by. Yet waiting for years just doesn’t cut it for the next generation of innovators. So where should a budding entrepreneur begin? Startup launchpads and business accelerators are the answer for those who aren’t quite ready to go it alone, but still want to make their mark. Helping you to build your skill set as you begin your entrepreneurial journey, these supportive organizations provide you with a resource ‘cushion’ that gives you the time to learn and take stock. This makes fledgling businesses more likely to face their early challenges successful. In order to meet a growing need in our own community Hult created its own launchpad in October 2016, built exclusively for companies with at least one Hult undergraduate student behind them – the Hult Founders Lab. Early successes have shown that easy access to such a launchpad means greater opportunities for student-led businesses. Many of them are already even up, running, and making money. â€Å"We’ve worked with so many companies, executives, and other schools, and the Hult Founder’s Lab has helped us to build networks upon networks. We’ve connected with startup incubators and accelerators at the University of Oxford, Imperial College, SOAS, and working with global leaders like Virgin Startups and the BCG Digital Ventures. We also attended the START Innovation Summit in Switzerland earlier this year. Sarveen Chester, Hult Founders Lab Student Director and Global Ambassador Carlos Juste, Founder of BonSay Outfitters, and undergraduate student at Hult London. One such startup is BonSay Outfitters, an eco-friendly apparel company with a focus on sustainability. We asked founder and Hult student Carlos Juste what it has been like to take his journey towards creating a viable business. Carlos, what challenges did you face in setting up your own startup? BonSay Outfitters is a fashion startup, so we are entering a really competitive industry, and we need to position ourselves strategically. We want to create a transparent brand image that connects with customers emotionally, but initially we didnt know who our target audience was. We knew there was a need for a brand committed to reducing the footprint fashion leaves on the environment, but we needed to think about our customer. That was one of our biggest challenges. Did any other challenges arise that you didnt expect? The process of creating the supply chain became one of the most difficult parts of the process. Finding the right suppliers that met all our sustainability requirements, and at the same time allowed us to produce at a smaller scale, was tough. In an industry filled with giants, who wants to supply the newbie? Did you find using the Founders Lab helped with these challenges? Yes. I got the right mentors to guide me through every step of growing BonSay, from finding the right suppliers, to pursuing potential new markets and successfully launching the business in the Spanish market. Hult Founders Lab gave me useful tools that allowed me to better understand and prepare for the business journey. Now that you are up and running, what are your next steps? Since February 2016 BonSay Outfitters has launched more than 20 products, with an increasing number of sales and clients around Spain. The next step is to expand to other international markets and create partnerships with logistics companies and distributors around Europe. In the next few years I’d really like to see BonSay Outfitters competing against the main streetwear companies around the globe. Bonsay Outfitters offer a range of apparel from tees, and sweatshirts to caps. BonSay Outfitters is just one of over 16 new businesses welcomed to the Hult Founder’s Lab by Professor Daniel Rukare over the last eight months. The Discipline Lead for Entrepreneurship has been particularly excited to see the impact a Hult launchpad has had on the entrepreneurial community on our London campus: â€Å"There have been so many student success stories – and many more to come I am sure. For me the best part is watching students evolve and make tremendous leaps and bounds. Some students come in with a great product and move straight to BETA testing, while some realize the user journey isn’t right, or the idea isn’t working. Seeing them learn and change as their business becomes something tangible, and they make their ideas work, is amazing.† Professor Daniel Rukare In fact, the program has been so well received that it has even been integrated into the undergraduate curriculum. There is now a 3 credit course acting as a capstone project or open elective that allows students to make their business efforts a real part of their degree. Now students can go a step further than the classroom and apply what they’ve learned to their own businesses, while benefitting from mentors, investor connections and advice–we can’t wait to see where their journey will take them. Interested in getting involved with the Hult Founder’s Lab, or starting your own business? Read Professor Daniel Rukare’s advice on what it takes to become a successful Entrepreneur at http://www.hult.edu/news/5-tips-starting-business/. If you would like to find out more about Hult’s global business programs,  download a brochure here. Becky Hinchliffe, Hult contributing blogger, is a freelance writer focused on business and university themes. She has been involved with a number of Hult and Ashridge projects, and has written about topics ranging from millennials and the world of work, to making the most of your finances in college. Make the most of what your career has to offer with a Masters in International Business from Hult. To learn more, take a look at our blog Do you have the essential skills to launch your international startup? or give your employability a huge boost with an MBA in international business. Download a brochure or get in touch today to find out how Hult can help you to explore everything about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .