Entrepreneurship for natural sciences and technology studentsv

Aims of the course

-To provide an overview of basic concepts and facts connected to entrepreneurship.
- Learn about the techniques and skills needed to identify and develop entrepreneurial opportunities.
- Understand the role of entrepreneurs and entrepreneurship in the economy.
- To learn about the techniques of quick prototyping and how to develop a solution for a specific entrepreneurial opportunity.
- To learn about the techniques for understanding the users and to use them on a specific case.
- To learn about the techniques for market analysis and to use them on a specific case.
- To learn about the techniques and the elements of business planning to use them on a specific case.
- To learn about the financial planning for a new venture and to create a financial plan for a specific case.
- To understand the methodology for developing a business plan.
- To acquire an understanding of the possibilities to finance a new venture and of the challenges involved in building an entrepreneurial team.
- To develop skills to effectively work in groups, through teamwork on the business plan.
- To develop skills to effectively present the business ideas.

Course syllabus

• Short introduction to principles of economics. Behaviour and goals of economic agents. Circular flow diagram. Introduction to economics of firm.
• The role of entrepreneurs in the economy. The role of natural sciences and technology graduates in new firm formation.
• Entrepreneurial opportunities: Their role in the entrepreneurial process. Entrepreneurial ideas vs. entrepreneurial opportunities. Constructivist perspective of development of entrepreneurial opportunities.
• Development of entrepreneurial solutions: Rapid prototyping of products and services. Testing of solutions.
• Understanding the users: Empathy, observation, interviews. Identifying market segments.
• Understanding the market: Analysis of market trends. Understanding the competitors. Determining the size of the market.
• Planning the business: Creating value for the customer. Building up competitive advantage. Development of a business model. Determining key resources and activities. Value chain analysis. Techniques of business planning.
• Financial planning for a new venture. Drawing up a balance sheet, P&L statement and cash flow statement.
• Funding of a new venture.
• Legal aspects of setting up a new venture. Entrepreneurial infrastructure and environment.

Course director(s)