AS A STUDENT, WHAT ARE THE MAIN CHALLENGES INVOLVED WITH LAUNCHING A STARTUP?
First of all, the legal framework. If I am not from the EU and am a student here, how does that work if I want to start something? That's the biggest issue. Otherwise, my idea doesn't require a lot of funding. It's really practical and can be built up in steps. It's more about the negotiation part and connecting demand with supply – students to companies.
We are newbies in this field. Everything about a company is new to us, especially for those of us who are scientists and engineers. So, we don't have much business knowledge. But in our case, we are very lucky because the University of Luxembourg Incubator provides immense support in the areas we're lacking. They are very approachable. It's still difficult for us to go beyond our field of expertise.
We're meeting many people here and gaining new contacts who are entrepreneurs and startups with knowledge to share. If we have any doubts or anything we need, then we're just going to ask them. We don't have any experience with companies. As we are new in Luxembourg, we don't know the culture very well or the companies, even legal issues or how to set up companies, raise funds, hire people... It's a blank page for us. We have to balance our studies and work life.
The main challenge with our project is convincing companies to work with us. We went out and talked to many of them. We will see if they approve of our idea to hire students from our platform. We need to convince them and leverage our network.
Networking is the most difficult part. We can't solve all the problems ourselves.
I didn't really plan to go into this career, so I think the most important part is contacting experts.