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About CREAzone

Methodology

CREAzone – is a unique and proven entrepreneurship promotion methodology aimed to help people combine breakthrough ideas and business models into organic and promising businesses in various fields. The Lithuania-born “Project development academy and entrepreneurship promotion model created and implemented by INCYDE foundation has laid a foundation for the CREAzone methodology.

Steps 

CREAzone methodology is used to power up its spinoff projects. During each CREAzone spinoff project young adults (typically university and college students) alongside with university or college teachers progress through 5 consecutive project stages:

  1. BE BETTER provides a mix of training for building personal and social entrepreneurship skills. 
  2. PITCH IN introduce participants to integrated business idea formation and team assembling training.
  3. TEAM UP camp serves as a ground for intensive team-building and business idea fine-tuning.
  4. DESIGN IT starts with business planning sessions and finishes with a Demo Day - a pinnacle of the project.
  5. GET STARTED concludes the project by training participants on building their business management skills.

Participants’ funnel

During the project, we foster productive competition among participants to create a motivating and challenging environment. Firstly, we carefully evaluate all applicants and invite only the most driven and promising to join the project’s BE BETTER stage. Then in the course of all-round assessments, we select only best-performing participants to progress to each next project stage. Thus, the number of participants in each stage is lower than in the previous one. So, only about 10-15% of the participants, who have joined the BE BETTER stage, complete the last GET STARTED stage of the project. 

Medici Effect

For CREAzone, entrepreneurship is a combination of a person’s attitude, skills, and knowledge that enable him or her to identify an opportunity for creating value and to take effective actions for utilizing it. The Key concept behind the project approach is described by F. Johansson in his book “The Medici Effect: Breakthrough Insights at the Intersection of Ideas, Concepts, and Cultures.” The core idea is to create a disruptive innovation by mixing ideas and concepts from diverse industries, cultures, and disciplines. It is said that breakthrough ideas are most often “intersectional” and occur when we bring concepts from one field into new, unfamiliar territory.

Differentiators 

Distinctive features that make CREAzone spinoff projects so effective and appealing are:

  • Real life exposure. We expose participants to the real business life and real businesspersons as much as possible during the project.
  • International experience. We stimulate early internationalization of the participants business ideas to make them as universally competitive as possible. 
  • A rich mix of age, background, and experience. We promote diversity among our participants, business mentors, investors, lecturers, and other third parties taking part in CREAzone projects.
  • Intensive mentoring. We foster a strong and lasting connection between the protégées (project participants) and their mentors during CREAzone projects.
  • Interinstitutional collaboration. We engage various organizations (governmental, municipal, corporate, SME, not-for-profit, etc.) in the implementation of CREAzone projects.