Effectuation, the concept that entrepreneurs are people who "do," not "plan to do," is essential to the study and teaching of entrepreneurship at UVA's Darden School of Business. Built around scholarship of Darden's Batten Institute, which studies how to apply effectuation in the real world, Darden examines case studies of business formation success in its course work and encourages actual business formation through its Incubator program. That thinking and scholarship is embodied in Darden's "No-Business Plan" approach to a business launch, teaching the importance of first testing a business concept against potential customers and markets to refine the viability of a product or service, demonstrate the potential for revenue-generating demand and bringing the key stakeholders "under the tent." In this "No-Business Plan" method, writing a business plan comes last, as a tool to assist in raising capital--not determining the viability of a business.