New Business Start-Up
A.Y. 2023/2024
Learning objectives
Launching a new business is a highly uncertain process. It starts with the discovery of an opportunity and unfolds through the development of a business model to exploit that opportunity. This course is meant to introduce students with theory, techniques and practice entrepreneurs can apply for managing the complexity of starting up a new business. The basic steps required to plan, start and run a new business will be covered. By applying a "learning by doing" approach and working on real cases, students will analyze opportunity identification, set a value proposition, collect evidence to validate their assumptions, and orchestrate all the needed resources to exploit a business opportunity. Traditional lectures will be combined with a strong link to the entrepreneurship eco-systems, to train students on how to develop a business plan. Students will also have the opportunity to take part of seminars, speeches from "insiders", public pitch sessions, crowdfunding campaigns.
Expected learning outcomes
By the end of the course, students will learn how to perform the distinct business planning activities throughout the steps of an entrepreneurial process. By applying agile working, lean business planning, tools for market and competitor analysis, trend-watching and data crunching, students will be able to understand how to create value for customers and investors, as well as for the other stakeholders involved. Moreover, they will acquire knowledge and skills to evaluate the potential of business initiatives, while managing risks and uncertainty and preventing failure. By working in teams, students will also develop collaborative attitudes, as well as self-assessment skills.
Lesson period: First trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Single session
Responsible
Lesson period
First trimester
Course syllabus
COURSE STRUCTURE
Please note that the course structure presented here reflects the program for attending students. The course structure is however subject to change depending on class preparation. For non attending students the structure matches the outline of the books to be prepared for the oral exam
-Introduction
-Entrepreneurship in theory
-Start-up and innovation in theory and practice
-Business Models and Value Proposition
-The entry problem
-Industry competitive analysis
-Elevator Pitch
-Intellectual property
-The marketing plan
-Metrics and KPI
-Cost analysis and break-even point
-P&L
-Cash-flow statement
-Funding the venture
-The investment process
-Setting up the newco: incubators and accelerators
-Start-up evaluation
-The growth issue: exit strategy and IPO
-Revising the financial documents
Please note that the course structure presented here reflects the program for attending students. The course structure is however subject to change depending on class preparation. For non attending students the structure matches the outline of the books to be prepared for the oral exam
-Introduction
-Entrepreneurship in theory
-Start-up and innovation in theory and practice
-Business Models and Value Proposition
-The entry problem
-Industry competitive analysis
-Elevator Pitch
-Intellectual property
-The marketing plan
-Metrics and KPI
-Cost analysis and break-even point
-P&L
-Cash-flow statement
-Funding the venture
-The investment process
-Setting up the newco: incubators and accelerators
-Start-up evaluation
-The growth issue: exit strategy and IPO
-Revising the financial documents
Prerequisites for admission
First year exams. However students should be able to deploy previous learning in accounting, finance and management
Teaching methods
FORMAT
Lectures, key note speeches, presentations, videos, group work, individual task, case-studies discussion, articles.
Lectures, key note speeches, presentations, videos, group work, individual task, case-studies discussion, articles.
Teaching Resources
ATTENDING STUDENTS
TOPICS AND ASSIGNED MATERIALS
- Professor's slides and files (lectures, testimonials, videos, articles, etc.)
- New Venture Creation: Entrepreneurship for the 21st Century, 10th Edition 9814577464 or 9789814577 by Stephen Spinelli, Rob Adams (UK)
-Entrepreneurship by Robert D. Hisrich, Michael Peters, Dean A. Shepherd (2024 edition), Mc Graw Hill
Recommended:
- Entrepreneurial Finance - Finance and Business Strategies for the Serious Entrepreneur (English Edition). by Steven Rogers, McGraw-Hill Education.
NON-ATTENDING STUDENTS
TOPICS AND ASSIGNED MATERIALS
- New Venture Creation: Entrepreneurship for the 21st Century, 10th Edition 9814577464 · 9789814577465 by Stephen Spinelli, Rob Adams (UK)
-Entrepreneurship by Robert D. Hisrich, Michael Peters, Dean A. Shepherd (2024 edition), Mc Graw Hill
Recommended:
- Entrepreneurial Finance - Finance and Business Strategies for the Serious Entrepreneur (English Edition). by Steven Rogers, McGraw-Hill Education.
TOPICS AND ASSIGNED MATERIALS
- Professor's slides and files (lectures, testimonials, videos, articles, etc.)
- New Venture Creation: Entrepreneurship for the 21st Century, 10th Edition 9814577464 or 9789814577 by Stephen Spinelli, Rob Adams (UK)
-Entrepreneurship by Robert D. Hisrich, Michael Peters, Dean A. Shepherd (2024 edition), Mc Graw Hill
Recommended:
- Entrepreneurial Finance - Finance and Business Strategies for the Serious Entrepreneur (English Edition). by Steven Rogers, McGraw-Hill Education.
NON-ATTENDING STUDENTS
TOPICS AND ASSIGNED MATERIALS
- New Venture Creation: Entrepreneurship for the 21st Century, 10th Edition 9814577464 · 9789814577465 by Stephen Spinelli, Rob Adams (UK)
-Entrepreneurship by Robert D. Hisrich, Michael Peters, Dean A. Shepherd (2024 edition), Mc Graw Hill
Recommended:
- Entrepreneurial Finance - Finance and Business Strategies for the Serious Entrepreneur (English Edition). by Steven Rogers, McGraw-Hill Education.
Assessment methods and Criteria
ATTENDING STUDENTS
The exam will be a based on a weighted average:
- written test - 50% - (individual work)
- pitch presentation - 10% - each group will deliver a 10' presentation about the start-up (group work).
- a full business plan - 40% - (group work)
NON-ATTENDING STUDENTS
The exam will be based on an oral exam (60% of the final grade) and a business plan (40% of the final grade)
ORAL EXAM
The oral exam is based on the books.
At least one question of the oral exam will be aimed at verifying the knowledge of the structure of the Business Plan specifically for the numerical part (income statement, balance sheet, cash flow).
** Mandatory Business Plan**
Non attending students must submit an originalBusiness Plan, based on the modifiable model available on the Ariel teaching website, maintaining at least three main sections: 1) executive summary and descriptive part of the business model, 2) internal and external market analysis, with sales forecast, marketing plan, key metrics, etc. 3) numerical part with balance sheet, income statement and Cash flow statement.
The business plan must be sent to the teacher by email at least 10 days befor the exam to allow checking for originality.
Counted in the weighted average of the final grade: 40%
The exam will be a based on a weighted average:
- written test - 50% - (individual work)
- pitch presentation - 10% - each group will deliver a 10' presentation about the start-up (group work).
- a full business plan - 40% - (group work)
NON-ATTENDING STUDENTS
The exam will be based on an oral exam (60% of the final grade) and a business plan (40% of the final grade)
ORAL EXAM
The oral exam is based on the books.
At least one question of the oral exam will be aimed at verifying the knowledge of the structure of the Business Plan specifically for the numerical part (income statement, balance sheet, cash flow).
** Mandatory Business Plan**
Non attending students must submit an originalBusiness Plan, based on the modifiable model available on the Ariel teaching website, maintaining at least three main sections: 1) executive summary and descriptive part of the business model, 2) internal and external market analysis, with sales forecast, marketing plan, key metrics, etc. 3) numerical part with balance sheet, income statement and Cash flow statement.
The business plan must be sent to the teacher by email at least 10 days befor the exam to allow checking for originality.
Counted in the weighted average of the final grade: 40%
Educational website(s)
Professor(s)