Business Planning Residency
Students practice the art of creating and pitching a business plan for an entrepreneurial initiative. With coaching from the academic director of the business residency and an expert advisor, teams of students develop an innovative idea for a new business or venture within an existing business.
What students say about their experience
The experience at Georgetown’s McDonough School of Business was game-changing. Our business planning residency introduced us to the lean startup methodology, which I have used to refine [my company’s] offerings and will continue to use to bring new products to market.
- Josh Ellars, EMBA’15
For the entrepreneurship residency, our team looked at the design and implementation of a global electronic health record. As daunting a task as that was, our team took a phased approach, incorporating tools provided by Prof. Edmund Pendleton to define our project scope, identify key segments and stakeholders, and present a viable solution. Our discovery showcased the reach of the Georgetown network, with our team receiving direct access to subject matter experts, health care business leaders, and academics who helped provide valuable insights into the management of health care data across the globe. Based on our research and analysis, we pivoted to developing a comprehensive journey map, charting health care data from collection to analysis. A fantastic and rewarding experience.
- Mdolole Steven Moyo, EMBA’18
Our first domestic residency involved creating a business plan and testing our ideas and consumer assumptions: the lean startup model. I was part of a team testing an idea to create a Rent the Runway model of clothing rental for working, professional women expecting a child. In essence, we tagged it “Not Your Mother’s Maternity…” The most incredible part of the experience was that, while interviewing a store owner, they offered the option to buy the store. Our minds went wild! It was a cold, snowy afternoon in my basement and the team quickly signed and scanned the relevant paperwork to more closely examine the store’s financial statements and due diligence. As a group, we gushed at the idea of coming out of this residency as business owners of our own concept!
- Dan Meyers, EMBA’16
During the course of our Venture Residency, I came to appreciate the full extent to which new technologies are being incorporate into and reshaping even the most traditional aspects of daily life. What began as a study of a Colorado-based outdoor lifestyle clothing startup ended as an assessment of how synthetic materials designed for biomedical devices were being used to improve the durability of everything from hiking gear to running shoes.
- Matthew Ritchie, EMBA’18
OTHER RESIDENCY OPPORTUNITIES