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"Foundation of Entrepreneurship" Lecture 14 – Lean Startups

The fourteenth lecture of the elective class, "Lean Startups" was held in erjiao 207 on May 24th 2016. We invited Lao Weixin, Professor of Innovation and Entrepreneurship in Peking University, visiting professor of Information Engineering, professor in Hong Kong Chinese University, and International Technology Transfer innovative medical technology collaboration member, to talk about "Lean Startups".

Professor Lao pointed out that "lean startups" act as a "verification study", a basis for the development of products and business development methodology. "Lean startups" do not isolate the user during the product development process, but the user is regularly exposed to the product during the process. In this way, each team can develop products more fully. As a result, both the core product function and color selection buttons meet users' needs. This sounds very sensible, but along with common sense, in the process of development in digital enterprises, it is extremely practical. The "lean startup" has gradually become a new business model in recent years, and has even spread to non-digital enterprise processes.

"Lean startups" could provide a reference for individuals and teams, help us get more resources so we can focus them on the correct target. Learning about "lean startups" is good for any entrepreneur.

Professor Lao helped us understand the core concepts of "lean startups" and left us with these words; 'Your vision is not important, the most rapid market demand to find the lowest cost is the most important thing!'