Imagine this situation, which is common for many students: You have spent the l

Imagine this situation, which is common for many students:
You have spent the last semester dedicating all your free time to an entrepreneurial idea you had one night – a new, innovative peer-to-peer rental mobile app for students to rent second-hand clothes and style accessories. You strongly believe that this app could make you very wealthy. You have kept your idea a secret, working on it during evenings and weekends, planning its features and gathering data on market trends. You have created a detailed financial projection and written a comprehensive business plan, even though you have not yet taken any entrepreneurship courses.
Despite having no technical knowledge in peer-to-peer app development, you have learned a lot about the market and have carefully estimated the time and resources needed to develop your platform. You now need to recruit and fund a team of developers to bring your vision to life. Your financial estimates indicate that you need to raise €300k to fund the development team for the next 12 months.
After selecting every early-stage investment funds you have identified in the Paris region, you have sent your investment deck to all of them. 3 weeks later, you cannot understand how long the process is for them to come back to you. After numerous follow-up attempts through their unfriendly contact platforms, you finally get a call meeting with an analyst.
Excited to finally share your investment needs with a representative of one of the most famous early-stage investment funds. The meeting rapidly does not go as you planned. The analyst is your school intern who explains that she took pity on you while reading your relaunch e-mails and that she is calling you for an informal debrief of their rejection decision. Usually, she never does so with decks that are out of their investment thesis scope. First, she focused her remarks about your absence of customer validation and grounded insights about market needs. She advised you to talk to customers first and validate their needs before developing any app. Second, as she realized that you were not yet incubated, she suggested that you apply ASAP to your school incubator to benefit from a coach, resources, workshops and invitation to entrepreneurial events to support you in your entrepreneurial journey. Third, she recommended you to take next term an opportunity development course in Essec catalog to help you build up your idea and, who knows, to find motivated co-founders. Finally, she suggested you develop a prototype and test it successfully with customers and get attractive metrics before ever considering raising funds.
In light of the concepts discussed in this first module,
What mistakes have you made?
What would you do differently today to get through this first stage by relying on the fundamental methods we discussed together?
Please be sure to incorporate the knowledge points mentioned in the attachment. I will be uploading seven quizzes for this class.