Building Things from Zero:
A Student's Entrepreneurship Journey at ESCP
Gaining hands-on experience in business operations is central to ESCP’s philosophy. The business school aims to provide countless opportunities for students and alumni to work on projects with some of the world’s leading companies. Some students take an extra step, finding their entrepreneurial spirit and building their own businesses.
For Maksim Shymanovich, that self-starter mindset was instilled early on. We recently caught up with him to discuss his experience launching a business back as a student at ESCP, his tips for aspiring entrepreneurs, and how the business school contributed to his entrepreneurial journey.
Embracing entrepreneurship as an ESCP student
Driven to understand how the different parts of online commerce operated and worked together, Maksim took his curiosity to its logical end, and started an e-commerce business operating across the globe. Over its lifespan of 3.5 years, the company has served over 25,000 clients in 40+ countries, whilst maintaining a lean structure with a small, yet efficient team, and most key processes entirely automated.
Several years later, once his entrepreneurial mindset solidified, Maksim brought together a group of like-minded, talented and ambitious individuals to found ICE, a fintech platform designed to make investing easy, ethical, hyperpersonalised, and automated. This time, it was a true fintech startup, rather than a business.
Beyond the immediate founding group, he says the school provided fertile ground for entrepreneurial ambitions. The network of alumni, abundant resources, and an encouraging atmosphere were crucial factors that created an environment conducive to developing ICE. One of the primary resources Maksim cites is the Blue Factory, an entrepreneurial hub with close ties to the Jean-Baptiste Say Institute. The startup incubator assists at every step of the startup journey, from idea to prototype, prototype to market-fit, and market-fit to scale.
“The Blue Factory is helpful and proactive,” Maksim says, “providing a wealth of resources for entrepreneurs at ESCP, including insightful workshops, expert mentorship, and essential networking opportunities, all designed to assist students with building their own ventures.”
ESCP’s student union, Agora, was also an active supporter throughout Maksim’s entrepreneurial journey. Every year, Agora hosts an Innovation Prize, to support projects at the prototype stage founded or co-founded by students and alumni from ESCP. Maksim participated and managed to reach the semi-finals for the award.
“Participation in the Innovation Hub by Agora was incredibly rewarding in terms of networking, and the projects of other participants were quite impressive - definitely something to learn from.”
Building the Founding Team
Assembling the founding team for ICE, Maksim and his core group of eight sought out individuals with a blend of a few key characteristics. They prioritized candidates who had a deep fascination with technology and financial/investment management. Furthermore, they targeted individuals ready to devote substantial portions of their free time to the venture, especially for those candidates who were full-time students/employees at the time when they wanted to join ICE. The ideal candidates were not just ambitious; they were adaptable learners, capable of autonomously setting and pursuing their objectives, navigating through challenges with agility and foresight.
“I looked for team members who were ambitious and eager to acquire new knowledge. We were embarking on a significant challenge, one where they would need to rapidly learn new skills and adapt to changing technologies" Maksim explains.
One of the key challenges for the group was dividing equity, Maksim notes, with some students devoting more time to the project than others. The students set up a tiered system of equity to solve this, with students who devoted more time to ICE receiving a higher share of equity in the company. Like any startup, there were no guarantees the group would see any monetary reward from the project, but Maksim says the experience of building something from the ground up made the experience invaluable for each member of the group.
“Each member of the team at ICE had the opportunity to pursue interesting, impactful projects as a part of their role, and learn something new. The experience they have accumulated at ICE also helped several members secure high-profile roles in software engineering, finance, operations, etc., at leading companies globally.”
Juggling Entrepreneurship and Business School Studies
Balancing the demands of coursework and a startup can be daunting, but Maksim notes that certain courses actually equipped him with essential skills for running ICE and leading complex projects at companies such as Revolut and TradingView.
Micro and macroeconomics laid the groundwork for understanding market dynamics, while financial and managerial accounting equipped Maksim with crucial financial literacy. Courses such as Law for Entrepreneurs and Operations Management provided insights into navigating legal complexities and optimising business processes.
"Beyond fundamental subjects like law and operations management, I want to emphasise the value of the Intercultural Skills course. It was instrumental in enhancing my interpersonal skills and my ability to communicate effectively with international partners, which was achieved through practical assignments and familiarisation with frameworks like Hofstede's Cultural Dimensions and Erin Meyer's Culture Map."
ICE has collaborated with reputable partner organisations from all over the globe, including Alpaca, FNGA, etc., and worked with regulators such as the CNMV and BaFin. The skills learned during those classes at ESCP were particularly useful, Maksim says, showcasing the differences in how companies and people approach operating businesses and building relationships around the world.
Business School’s impact on the entrepreneurial mindset
As Maksim looks back on his time at ESCP, the school's emphasis on social impact, sustainability, and global thinking continues to influence his career path. He says ESCP pushed students to think beyond profits, encouraging purpose-driven initiatives that contribute positively to society. The lessons learned about sustainability, combined with global and international perspectives, guide his professional decisions, shaping his holistic and responsible approach to business.
“During my time at ESCP, the curriculum extended beyond the basics of international business, placing significant emphasis on sustainability and social responsibility. The core objective was to foster the creation of businesses that not only succeed in their markets but also make a meaningful, positive impact on society and the environment as a whole.”
So what are Maksim’s tips for other aspiring student entrepreneurs?
- Start now — Have an idea for a business? Start working on it. The quickest path to understanding, if an idea is worthwhile, is by doing the work. Even if it doesn’t work out, the experience and learning is invaluable for entrepreneurs.
- Learn what you like (and what you’re good at) — Entrepreneurs have to wear many hats, but can often make the biggest impact working on projects they enjoy or for which they have a natural talent.
- Follow innovation — Almost every entrepreneur in any field will be exposed to working in tech in some manner. Keep an eye on trends in innovation or, better yet, work for companies leading the charge.