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To foster the growth of new startups, the Mongolian Productivity Organization organized a face-to-face workshop on Business Model Strategies for Startups, 15–18 May. The workshop in Ulaanbaatar was attended by 26 participants from 17 APO members, including entrepreneurs, business executives, consultants, and representatives of organizations involved in startup support and promotion programs. Four resource persons from France, India, the ROK, and Mongolia covered aspects crucial to startups, including startup concepts, business model canvases, methods for creating effective business models, and system-based thinking models.
Business models are sets of methods to create, deliver, and capture value by serving customer and market needs. They can create a competitive advantage, generate better returns, and identify innovative opportunities. Productivity is also essential, as startups must optimize resources and foster collaboration. Careful planning ensures effective organizational functioning. Therefore, it is imperative for startups to select a suitable business model that lays a robust foundation, providing proven methods to maximize value and meet market needs.
The workshop equipped participants with practical skills to develop new business models, while also exploring different strategies employed by successful enterprises. Participants gained insights into the lean startup methodology and ways to enhance productivity within startup ecosystems. They had the opportunity to visit the Mongolian Fund of Science and Technology, National IT Park, and Hub Innovation Center of the Capital City. During the workshop, participants were divided into groups, allowing them to collaborate and develop innovative business models based on their learning and site visits. They were then given the chance to present their models, with the resource persons recognizing the best ideas and approaches.