Janis Hermanis, the coordinator of the Erasmus+ KABADA project, was interviewed by Skillman and shared valuable information about the online digital tool that is being developed under the umbrella of the project and that will change the lives of many entrepreneurs in the near future. Janis clarified many aspects of the Kabada tool, already anticipating that it will be out by the end of 2021.
Here is the video of the interview:
KABADA project background:
The project will combine the efforts of business and university educators across Europe with a potential beyond consortium members. The new artificial intelligence (AI) tool for assessment of business ideas will offer new opportunities for developing the practical application of entrepreneurial skills, especially it will enhance decision making in the relation of adoption of new ideas leading to innovations. The intellectual output will be framed as an innovative module to be embedded in the existing curricula of higher education institutions including different corporate training programs.
In addition, the innovative approach lies in the fact that the tool will be an AI prototype, a digital tool for assessment of business ideas of new entrepreneurs is new and different from other tools (e.g. business simulation games) that it will not only evaluate the business idea but give first suggestions for the improvements and further steps. None of the HEI in the consortium has such an innovative system. It will allow understanding strengths and weaknesses of potential business idea and plan before starting a business. Kabada will be the appropriate methodological tool in an innovative training process so that students and other people can learn the business plan design process, principles and components as well as their impact on potential business success in an interactive way. The main aim is to decrease the business fail ratio, the possibility of financial distress and to increase the number of successful entrepreneurs.