Code last year: (MST-23406)
|Teaching method||Contact hours|
|Course coordinator(s)||N Salimi|
|Lecturer(s)||dr. VC Materia|
|Examiner(s)||prof. dr. WA Dolfsma|
Language of instruction:
Assumed knowledge on:
MSc students MME (specialization: Management, Innovation and Life Sciences) and MFT (specialization: Food Innovation and Management), and Climate-KIC can follow this course. Furthermore, all MSc students interested in learning more about innovation, knowledge management and entrepreneurship with an emphasis on the technology sector can join this course. This course is also part of the Master Track Entrepreneurship. For more information see the Master Track Entrepreneurship webpage. Both theoretical and practical knowledge from the course BMO-55306 Principles of Entrepreneurship or other (extracurricular) courses teaching the basics of entrepreneurship are an advantage in following the course.
Other courses from the Master Track Entrepreneurship. For more information see the Master Track Entrepreneurship webpage
In the course New Venture Creation: From Idea to Business Plan, students with a real or potentially innovative business idea are guided in the process of elaborating their idea, analyzing its future market potential, and preparing and writing a business plan. During the course groups of students will develop a business plan for a new technology-based enterprise based on one of the group member's own innovative idea. 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.
The purpose of this course is to give students insight into the processes underlying entrepreneurship in independent or autonomous technology-based start-ups and future medium sized companies. There will be a special focus on opportunity identification, capturing and business case simulation, and other skills relevant for planning a new business venture (e.g. presentation, market testing, forming and building teams, effectuation). 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 also introduces students to the financing of the start-up, where to go for start-up and growth capital, with special emphasis on and real-life insights on pricing, forecasting, and state of the art funding.
Students are expected to prepare by already bringing an individual innovative technology-related business idea to the beginning of the course. Only selected ideas will be further developed in the group work. The selection is done by students' voting.
After successful completion of this course students are expected to be able to:
- explain the specifics of new venture creation in technology-based settings;
- apply strategic and organisational insights to the start-up and growth processes of new firms;
- select ideas for innovation and to identify business opportunities in order to commercialise them through a new organisation;
- explain now 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 contribute to solid and robust business plans that are both promising, feasible and viable;
- acquire presentation skills and apply them in the context of developing an innovative idea into a full blown business plan.
The course consists of 10 (guest)lectures, self-study, one individual presentation, group work plus 2 group presentations, and team supervision meetings.
- individual assignment (business idea pitch) (10%);
- group assignment, being writing a business plan and group presentations (60%);
- written exam with open questions (30%);
Both assignments and the written exam must receive a mark of at least 5.5 in order to pass the course. Missing deadlines may lead to deduction of points.
Relevant articles will be provided. Furthermore, after each lecture, a PowerPoint presentation on the subject will be posted on Blackboard. The following text books will be optional during the course:
- Ostwalder, A. and Y. Pigneur (2010). Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Hoboken, New Jersey: John Wiley & Sons, Inc.
- Spinelli, S. and R. Adams (2012). New Venture Creation. Entrepreneurship for the 21st Century, 9th Ed. New York: McGraw-Hill.
|Restricted Optional for:||MME||Management, Economics and Consumer Studies||MSc||D: Management in Life Sciences||5MO|
|MFT||Food Technology||MSc||B: Food Innovation and Management||5MO|