Setting Up a Business: AAI Tsudoi 2024 Workshop by Japan Venture Academy

The third day of the Ashinaga Africa Initiative (AAI) Tsudoi 2024 brought AAI Scholars together for an enriching workshop titled “Setting Up a Business,” facilitated by the esteemed Japan Venture Academy. Kento Akiyama, the founder of Japan Venture Capital, led the session, providing valuable insights and guidance on entrepreneurial endeavors.

Japan Venture Academy, a renowned institution fostering entrepreneurship, was pivotal in facilitating the workshop. With a wealth of experience and expertise in the business realm, the academy brought a unique perspective to the AAI Tsudoi, guiding aspiring entrepreneurs through the intricacies of establishing and developing successful businesses.

One of the focal points of the workshop was introducing the Lean Canvas method as an adaptive and efficient way to plan a business. The Lean Canvas is a one-page business plan encompassing nine high-risk aspects for startups. It serves as a framework for visualizing key assumptions and iterating on the business model canvas.

 

 

To commence a new business venture, the following essential steps were emphasized:
1. Team Formation: Building a competent and cohesive team is crucial for the success of any business.
2. Budgeting: Financial planning and budgeting are fundamental aspects of business planning.
3. Market Analysis: Understanding user preferences, studying competitors, and keeping abreast of market trends and economic conditions are vital components.
4. Solution Identification: Identifying a valid problem and proposing a feasible solution are at the core of setting up a successful business.

The Lean Canvas, being a one-page business plan, provides a concise business model overview, making it a valuable tool for entrepreneurs. Lean Canvas offers several advantages, including saving valuable time, making quick adjustments based on new insights, and ensuring team alignment throughout the business planning process.

During the workshop, AAI and Japanese Scholars actively participated in applying the Lean Canvas approach. Divided into groups, they selected a problem, ideated a solution, and completed the Lean Canvas collaboratively. This practical exercise allowed the scholars to present their work and solutions, receiving valuable feedback from Kento Akiyama.

 

 

The workshop was especially pertinent for AAI Scholars developing their Ashinaga Proposal, a project dedicated to identifying solutions for issues in sub-Saharan Africa. The session deepened their comprehension of business planning, underscoring the significance of crafting a clear problem statement and a meticulously thought-out solution.

During their practice exercise, one group focused on tackling the lack of sanitary products for young girls in Liberia. Another group addressed the challenges encountered by foreigners when relocating to Japan. This hands-on experience allowed scholars to apply their newfound knowledge to real-world scenarios, showcasing the practicality and relevance of the skills acquired during the workshop.