This week we went over three process design methods EPC, PetriNet, and BPMN. Please use the BPMN method (following the BPMN notation) TO DESIGN THE PROCESS MAP FOR THE STARTUP PROCESS described in the next slide.

The Startup Process

1. The founder identifies a new way to meet customers needs

2. The founder builds a prototype

3. The founder tests the market with the prototype

4. The founder pitches the idea and prototype to a venture capitalist

5. The VC evaluates the idea and potential market, then decide if it is worth investing

6. If yes, the VC provides the Seed Round funding. If no, the founder goes back to tweak the ideas and restart from Step 1.

7. Once the initial funding is secured, the founder launches the the startup

8. The founder seeks additional rounds of funding to grow the business

9. If the startup is successful, it either launches an IPO or being acquired.

10. If the startup fails, its dissolved.

11. If IPO, the startup sells shares to the public. If it is acquired, its merged into the buying company.