The course aims at introducing students to commercialisation of potential business ideas and turning an idea into a real business. The participants will work on small groups with a realistic business idea and learn to refine the idea to such a point that it can be seriously considered as a basis for creating a business. The result of this process will be documented in a detailed business plan covering the elements of an effective business plan. Teams will learn to comprehend the technology behind the business concept well enough to understand the customer value of the technology. During the development process, the teams will receive personal mentoring by experienced entrepreneurs and/or industry specialists who have business experience on the field of business related to the business concept to be developed. Also the academic staff and faculty members will be closely involved in instructing the teams throughout the process. Half way through the Business Modelling and Development component, the teams will exercise presenting an elevator pitch, a short selling presentation of their businessconcept. The presentations will be evaluated and commented by an evaluation group. The feedback of the evaluators will be a very important feature of the component, as i twill evaluate the quality and feasibility of the business plans. Some class activities might be run in common with the Business Development Lab (Master EIT Digital) and the Start-Up Lab classes, so that doctoral students will engage and interact with a larger group of students to develop their idea in a highly stimulating, interactive and diverse learning-by-doing environment.