The Innovation Challenge is intended to give students real-world experience in starting a business. And just like in the real world, assembling a diverse team can be a barrier to entry.
Contest rules recommend teams with 3-7 members, since business ideas have a stronger chance of success if teams include people with finance, marketing, design, and technical skills.
“You can’t run a business by yourself,” said Barbara Barcon, an Innovation Challenge organizer and retired vice president and CFO with Pacific Gas and Electric. “You may like your idea, but will others like it? You’ll also need some market research.” Continue reading “Step 1 to Startup Success: Build a Winning Team”