Problems with University Startups
Many universities now offer startup incubation programs where young
founders can transform their ideas into reality through training
provided by school mentors. However, a common issue with these programs
is that participants often enter startup competitions with only an idea
(which I understand can be challenging to develop without funding) and
no actual product. Many of them win prizes around 50k-100k and start working on their projects, but 90% of the time, these ideas fail to even reach the MVP
stage. I don’t understand why pitching competitions seem to value
'ideas' over actual traction. I am aware that these schools offer teaching on mvps and product market fit it seems to be the first topic that is taught but they seem to not achieve it. I follow some high potential startups but seeing their facebook page now is dead. I think startup competition should encourage even a simple mvp (lean startup way) because now It is very common that if you have 'AI' in your pitch deck you are most likely to win