MST-23406 New Venture Creation: from Idea to Business Plan

Course

Credits 6.00

Teaching methodContact hours
Lecture10
Tutorial17
Practical19
Group work9
Independent study
Course coordinator(s)dr. HB Kok
Lecturer(s)dr. HB Kok
dr. VC Materia
Examiner(s)prof. dr. SWF Omta

Language of instruction:

English

Assumed knowledge on:

This course is also part of the Master Track Entrepreneurship. For more information see the Master Track Entrepreneurship webpage.

Continuation courses:

Other courses from the Master Track Entrepreneurship. For more information see the Master Track Entrepreneurship webpage

Contents:

Students with a real or potentially innovative business idea are guided in the process of elaborating their idea, analysing its future market potential, and preparing and writing a business plan. The purpose of this course is to give students insight into the processes underlying entrepreneurship in independent or autonomous start-ups and future medium sized companies. There will be a special focus on opportunity identification and business case simulation, and other skills relevant for planning a new business venture (e.g. creativity, market testing, impression management, etc.). The course reviews different approaches to feasibility analysis that can be carried out before the potential entrepreneur embarks on preparing the full-blown business plan. The course then introduces students to the financing of the start-up where to go for start-up and growth capital, with special emphasis on bootstrapping and venture capital. Franchising, licensing, acquisition of an on-going enterprise, and new product development represent different specific strategies various entrepreneurs have used to start and/or stimulate the growth of their businesses. During the course students will develop a plan for a new enterprise. This plan should be feasible and have the potential to generate substantial revenues, cash and profits. The venture should be able to provide a competitive remuneration for the founders.

Learning outcomes:

After successful completion of this course students are expected to be able to:
- apply strategic and organisational insights to the start-up and growth processes of new firms (in general) and the processes of new venture creation and planning in the life sciences (in particular);
- select ideas for innovation and to identify business opportunities in order to commercialise them through a new organisation;
- explain the actual value of a business plan: what it can and cannot do (i.e. the do's and don'ts of business plan writing);
- demonstrate how all the various aspects of new venture planning can contribute to solid and robust business plans that are both promising, feasible and viable.

Activities:

The following teaching formats will be used:
- course work & lectures: discussing the relevant literature in the field of new venture creation and new venture planning;
- case discussions, not only to reflect on the applicability of theories and concepts in the domain of new venture planning, but also to act as a mirror on developing and selecting ideas and structures for a new business by the various groups;
- guest lecturers from venture capital firms, entrepreneurs, incubators, Intellectual Property (IP) experts;
- writing a business plan for a start-up. Students are expected to prepare a start-up plan on the basis of their own or someone else his/her idea for a start-up.

Examination:

- business plan and presentation (group) (40%);
- written exam with open and or close or multiple choice questions (40%);
- group and individual assignments (20%);
Each component requires a minimum of 5.50 to pass.

Literature:

Book and reader.

ProgrammePhaseSpecializationPeriod
Restricted Optional for: MMEManagement, Economics and Consumer StudiesMScD: Management, Innovation and Life Sciences5MO
MFTFood TechnologyMScB: Food Innovation and Management5MO
MPBPlant BiotechnologyMSc5MO