Three alumni of BMI, from Executive MBA cohorts XV and XVI, have successfully launched a new business based on an idea they developed for a project during EMBA studies. Plus Plus Plus, as their innovative inexpensive gastropub is known, celebrated its grand opening last week.
The pub in the Lithuanian capital immediately attracted the attention of the media – and many visitors – thanks to its unique combination of quality, cosiness and low cost: nearly all the items on the menu have a price of about 1 euro, and the most expensive dish costs just 3 euros.
“We stress the real-life practical value of the EMBA studies at BMI led by top international professors and lecturer practitioners, as well as the value of networking with the other experienced executives in each cohort. This newly materialised project is another nice business case of the great cooperation among BMI Alumni from different classes. The new venture dynamics at BMI EMBA is very promising – 20% of BMI EMBA students start their own businesses during studies or soon after.” BMI Director General Jaunius Pusvaškis said.
“We noticed this opportunity and developed the concept, which is totally new for this market, as project work during our BMI studies, also getting some great feedback on the business model from fellow students and the project coaches,” said one of the three co-founders. “It’s nice to see people’s very positive first reaction to the idea, but really this first Plus Plus Plus outlet is just the start of something that could grow much bigger – at least into a chain,” added.
Saulius Adomaitis, a partner at EY in United Arab Emirates, leads the Business Plan Development course and project at BMI. “The innovative gastropub idea was presented as a final project in the programme in January this year. It is fantastic how ideas generated during BMI EMBA studies are brought to life after graduation,” Adomaitis said.
The formal launch ceremony for Plus Plus Plus was overseen by celebrities and attracted a full crowd, including a number of BMI alumni.