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Business Idea Lab

Business Idea Lab helps entrepreneurs set the foundations for success by refining their idea and setting a vision for their entrepreneurial journey.
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A woman with a headband and a green sweatshirt speaks into a microphone, presenting her business idea in the softly lit Lab. She holds a clipboard as blurred lights and people create an inspiring backdrop.

Key Details

  • Program Structure: 5 classes and Pitch Night
  • Format:Online with an in-person option for Pitch Night
  • Time Commitment: 6 hours per week
  • Duration: 4 weeks
  • Class Time: Evenings
  • Capital Offered:  $500 Seed Loan at 0% interest available after program completion
  • Frequency: Offered 2-3 times per year, depending on site
  • Cost:$25

Program Description

Business Idea Lab is a 6-session program that gives entrepreneurs the tools to turn their business dream into a fully-formed business idea. Business Idea Lab is designed for entrepreneurs at a variety of stages, whether they are just starting to explore business ownership, looking to fine-tune an existing idea, or wanting to refine a concept for an existing business.

Approximately 75% of RMMFI entrepreneurs begin their journey in Business Idea Lab because even more developed business ideas can always be improved.

Business Idea Lab concludes with a Pitch Night, which gives entrepreneurs the opportunity to pitch their business ideas to the community for a chance to win prize money that can help them get their business off the ground.

In Business Idea Lab, entrepreneurs will:

Learn the essential skills and strengths of successful entrepreneurs.

Learn how to define their personal vision and set goals.

Receive an introduction to basic business concepts.

Learn how to generate, select, and test business ideas.

Meet with mentors (in class) to get feedback on their business ideas.

Learn how to build their own Startup Strategy.

Conduct a personal feasibility assessment.

Create their pitch to articulate their unique business idea.

Impact & Testimonials

A lime green icon depicting three person outlines below three stars on a black background, symbolizing innovative customer ratings or reviews in a business context.

"I enjoyed talking with and bouncing off ideas with fellow entrepreneurs and aspiring business owners. The Idea Lab was very motivating and encouraging to me that I can, in fact, start a business; that the barriers to begin are not as big as I expected them to be."

86

of entrepreneurs feel Business Idea Lab was very or extremely useful in developing their business idea

651

entrepreneurs have completed Business Idea Lab

like 2

"BIL is for anyone who is curious about starting their own business but isn't sure where to start."

Turn Your Business Dream Into Reality

Take the first step toward realizing your entrepreneurial dreams with RMMFI. Complete your Dream Survey today!

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A woman in a wheelchair passionately speaks into a microphone, sharing her innovative idea. Draped in a patterned shawl, she gestures with conviction. The setting is simple, with a table and cables hinting at the room's function as a creative lab.

FAQs

Wait times vary based on location and program capacity. Applicants are placed into cohorts based on their readiness, eligibility, and ability to respond to communication and submit required documents.
If you’re not accepted into the Business Idea Lab, it doesn’t mean the door is closed. RMMFI may suggest additional resources, mentoring, or office hours to help you build a stronger foundation and reapply at a later time.
Business Idea Lab requires a $25 seat deposit. This deposit can be applied to the tuition balance for Business Launch Boot Camp if the participant is accepted. RMMFI is committed to removing financial barriers to entrepreneurship. Participants are encouraged to speak to their Business Idea Lab Trainer to develop a pay arrangement.
After completing the Business Idea Lab, participants may apply for the Business Launch Boot Camp, where they’ll receive more in-depth training on how to turn their idea into a fully operational business.
Basic technology skills, like using email, spreadsheets, and Zoom, can be helpful for participating in our programs. If you’re concerned about your technology skills, we encourage you to speak with our intake team for more information. RMMFI has resources available to support learning in this area, and we can help you determine if you’re ready to engage in the program.

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Main Office: 1824 Lincoln Street, Denver, CO 80203
In Office By Appointment Only

Opportunity Through Entrepreneurship

  • © 2024 RMMFI

Website made by: Delverise

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