fast track to venture lab-insurtech edition

Program Overview

Below find details about Eligibility, Profile Criteria, the Process, etc. 

Fast Track to Venture Lab-Insurtech Edition is a unique, 100% virtual program, powered by MAPFRE, that seeks to provide entrepreneurial opportunities to IE Students* and Alumni.

This unique program is designed to select the best individual talent, help those individuals form teams, facilitate the teams to ideate a startup/innovation project, and then train and support the teams to validate and iterate their work in a specialized Venture Lab program.

During the program teams will receive hands-on workshops, mentorship from IE Business School’s top talent, feedback and support from MAPFRE’s industry experts, as well as access to MAPFRE’s customer bases to develop and build a viable and validated business opportunity that will shake-up and excite the insurance industry.

Eligibility

In order to participate, applicants must be:

Either a current:

  • IE Masters, Graduate or Exec. Education Student (from any degree and any program)
  • or an Undergraduate Student (from any degree program) who is graduating by July 2021
  • or an Alumnus/a of an IE degree-program.
  • Fluent in English (the program’s working language is English).

Available for the dates listed in the Selection Process’ Timeline.

Available, as of April 20, 2021, to work with your team synchronously and asynchronously on developing your Venture Lab project (minimum 6-10 hours/week)

Willing to step out of your comfort zone, and have some fun in the process!

What are we looking for?

Candidate Profile

Are you talented, curious, adaptable and eager to explore opportunities that can create benefits for our society and also earn a profit? If so, then you’re the profile we’re looking for!

But, notice we haven’t listed “actuaries,” “underwriters” or other “insurance lingo” among the profiles we’re looking for…

Why?

Because we aren’t looking for profiles who have experience in insurance. If you have experience in insurance, you’re very welcome too. But it’s not necessary.

We want profiles of candidates who are active members of society. People who are observant and who are part of the current times. And people who are eager to drive change.

No hermit, couch potatoes please.

We want you because disrupting insurance requires proximity to ordinary people and their everyday lives.

Why?

Because in order to provide value to current or future customers of an insurer, the first step is to understand their wants, needs and frustrations. (Be sure to check out the section on “Why Insurtech?“)

Fast Track to Venture lab

The Process

The entire process and program is 100% virtual. The Fast Track program is designed to select talented individuals, assist in team formation and then invite these teams to participate in the Venture Lab – Insurtech Edition, powered by Mapfre.

Application

Online Application + Linkedin Profile

Selection

Hard & Soft Skills. Group Dynamics

Team Formation

Engagement activities + Workshop

Venture Lab

Venture Lab Insurtech Edition

How does this process work?

While IE’s traditional Venture Lab program is aimed at already-formed teams who already have an idea to develop – this specialized Venture Lab program is for individuals (no team required!) who do not yet have an idea to explore and validate.

The Fast Track to Venture Lab program consists of different phases that lead up to and include the Venture Lab-Insurtech Edition. 

  1. Recuitment and Application Process.
  2. Selection (which has three phases of its own)
  3. Team Formation
  4. Venture Lab-Insurtech Edition

The Recruitment and Application Process begins on Jan 21 and ends on Feb 21, 2021. During this period, interested candidates are encouraged to Register via the links on this website. By Registering with your email, you will receive key information from the Venture Lab that you will not find on this website.

The Selection Process consists of answering a series of questions and sharing your Linkedin profile with us. Upon review of those profiles, an initial group of selected candidates will be invited to take part in Group Dynamics among each other. Then, another group of selected candidates will be invited to attend a one-day Innovation Challenge. During the Challenge, candidates will work in teams to ideate proposals for challenges that are posed to them. Finally, after the Challenge, a final group of candidates will be selected and these finalists will be invited to a Team Formation Workshop. (See the Selection Process’ Timeline).

The Team Formation Workshop is aimed at helping the finalists, who have previously been given various opportunities to get to know one another, form teams among themselves. 

Finally, the teams formed will be invited to join the Venture Lab-Insurtech Edition, powered by MAPFRE. (See the Venture Lab-Insurtech Edition’s Timeline).

As part of this Venture Lab - Insurtech edition

You are eligible to access:

IE Venture Day Madrid, IE's largest demo-day event
100% Virtual programming
Facilitated Opportunity Workshop
9 Weeks of Facilitated Workshops and Mentorship
IE Business School's top mentors
Industry Experts
The chance to win an invitation to:
MAPFRE's insur_space Accelerator

and to receive:

€30k Funding to validate your MVP