The Innovative Academy Incubation session was held again at EDS UGM on (4/5), featuring Rico Setiono, Associate Director at PT. Stechoq Indonesia. Rico presented material on the Business Model Canvas and Lean Canvas frameworks for structuring a startup’s business plan.
“Business Model Canvas is a framework used to ‘shape’ and model the business scheme to be implemented,” Rico explained. He elaborated that the Business Model Canvas starts with filling out the customer segment, focusing on the target market, allowing startup founders to maximize their startup’s value according to their specific targets.
Rico used case studies from PT Stechoq Indonesia to illustrate the Business Model Canvas and Lean Canvas, explaining key elements such as key partners, key activities, key resources, value proposition, customer relationships, and other components within the Business Model Canvas.
“After understanding the value and how to deliver it, we need to know the resources we have,” Rico said. “The six resources needed for business development are Man (People), Money (Capital), Material (Physical Resources), Machine (Technology), Method (Processes), and Market (Market), enhanced with imagination,” he continued. Rico emphasized the need for imagination and creativity, supported by research.
Through this mentoring session and workshop, participants were expected to produce a Business Model Canvas and Lean Canvas that startup founders can use as a guide to run and optimize their startups according to the principles and standards established in the Business Model Canvas and Lean Canvas frameworks. (Writer: Ailsa / Documentation: IA Photos)