Yogyakarta, November 10, 2024 – Innovative Academy held another masterclass program titled “Solution – Product Fit”, conducted over two days at the Swiss-Belboutique Hotel Yogyakarta. This masterclass brought together 90 participants from various universities, including UGM, UNY, and UNS. Numerous startups mentored by Innovative Academy UGM also actively participated, engaging with the comprehensive materials delivered by distinguished speakers.
“Understanding the concept of how a business can maintain its presence in the market is essential. Through this masterclass program, Innovative Academy provides a platform for its mentored startups and the general public to learn together about the best strategies for achieving business success,” said Sebastian Alex, Program and Curriculum Advisor at Innovative Academy.
The event featured four key topics, each representing critical elements necessary for business founders to design their business strategies: Business Model Generation, Revenue Model, Go-To-Market Strategy, and Pitching & Storytelling. These topics were delivered by four experienced speakers with deep expertise in their respective areas.
Business Model Generation and Revenue Model
The first topic, Business Model Generation, was presented by Nailah Rahmah, a Merchant Engagement Specialist at Blibli.com. She discussed strategies for addressing business process challenges through the development of Business Model Canvas (BMC) and Lean Canvas, two widely adopted frameworks among startups today. The session became increasingly engaging with interactive discussions, allowing participants to pose questions directly to the speaker about specific business challenges they were facing. This dynamic exchange also provided real-world insights into implementing the presented concepts.
The second session focused on the Revenue Model, with Saddan Husain, an Investment Analyst at Telkom Indonesia, as the speaker. Participants were guided to understand how a business must cater to both the ego and needs of customers. Saddan emphasized critical aspects for businesses, particularly those in the early stages, stating, “The revenue model serves as a communication medium with users/customers. Missteps in determining the model can pose significant risks, offering competitors an opportunity to exploit gaps with similar revenue models.”
Go-To-Market Strategy and Pitching & Storytelling
The first session of the second day delved into the Go-To-Market Strategy, led by Ossi Indra Wardhani, Corporate Affairs Director at GDP Venture. Participants gained comprehensive insights into market penetration strategies, focusing on marketing, sales, and product distribution strategies to ensure successful market entry and long-term business sustainability. “Implementing such strategies helps businesses minimize risks, maximize impact, and secure sustainability in a competitive market,” Ossi explained.
The final session centered on Pitching and Storytelling, delivered by Varrel Vendira, Human Capital Communication Specialist at Blibli. This session emphasized public speaking techniques related to presenting business ideas effectively, including key points to include or omit. Varrel’s engaging delivery style invited participants to practice conveying essential product information in an informative manner while integrating emotional resonance to attract the right audience within a short time. Several startup representatives had the opportunity to showcase their product development ideas, receiving valuable feedback on their pitching and storytelling techniques.
This fifth and sixth-week masterclass series witnessed the highest participant enthusiasm compared to previous weeks. It is hoped that through this masterclass, startups and general participants will gain a comprehensive understanding of implementing effective strategies for developing their business ideas and applying the right approaches in marketing their products.
(Editor: Dinda, Documentation: IA Team)