Jun 16, 2016 07:23 AM EDT By Vinay Patel, UniversityHerald Reporter

A noted US academic addressed zealous entrepreneurs, delivering hard truths about start-ups in NUI Galway during a week-long series of events held at the recently founded Atlantic Centre for Entrepreneurship and Executive Development.

Prof. Robert Rosenberg, a leading entrepreneurship expert has lended a helping hand to start-ups in an array of capacities ranging from investing to plan development. Prof. Rosenberg who hails from one of the best business schools in the world, Chicago Booth School of Business, will be in Galway this entire week discussing about the challenges faced while expanding a business.According to Caitríona Lynch, a NUIG adjunct lecturer in entrepreneurship, the ability to escalate a business from a startup is one of the key skills required to build Ireland's next billion dollar company. Lynch noted that their objective is to put in place the skills and structure to enable that to happen.

Expressing her excitement, Lynch noted that she considered working with Bob a privilege, citing the boundless experience and ample skills that he brings, Irish Examiner noted.

While speaking at Startup Galway event held at PorterShed, Prof. Rosenberg advised those aspiring to develop their own startup, to identify something around which they have passion. Getting through the challenges, specifically the bad days will need them to be motivated and have high level of energy. Finding like-minded people too is a crucial step in escalating a startup - co-founders, advisers, mentors or even members of the team, find those who share your passion.

What differentiates a business from a hobby is having customers, Prof. Rosenberg pointed out explaining that obtaining customers and market data is extremely vital, especially for a budding enterprise. He advised aspiring entrepreneurs to "share their ideas," and if they feel they are not confident about moving ahead with this because stealing the idea seems like a walk in the park, then it's possibly not an apt basis for a startup.He encouraged aspiring entrepreneurs to share their stories every time they can and listen to the feedback. Startups, without questions will face obstacles as things move ahead, however Prof. Rosenberg advises entrepreneurs to consider each stumbling block as an opportunity to grow, listen and to learn, GalwayIndependent.

It's equally important to make sure that the team is diverse, he noted. Prof. Rosenberg explains by saying "entrepreneurship is a team sport" and its important to get access to as much skill sets as possible - experience being one of them. Although its good to celebrate achievements, Prof. Rosenberg suggests entrepreneurs to always stay hungry and humble.

The newly founded centre for entrepreneurship at NUIG focuses at cultivating viable collaboration between academics and entrepreneurs and bring globally acclaimed talent to the West of Ireland and to Galway in a bid to offer the quintessential skills to help the growth of domestic industry.

The Atlantic Centre is not only a necessary, but also a brave move, an effort to evolve promising ideas and companies into economic motivator for the region and the country, Prof. Rosenberg said.

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