Università degli studi dell'Insubria

ENTREPRENEURSHIP & INNOVATION MANAGEMENT

Degree course: 
Corso di Second cycle degree in GLOBAL ENTREPRENEURSHIP ECONOMICS AND MANAGEMENT
Academyc year when starting the degree: 
2017/2018
Year: 
1
Academyc year when helding the course: 
2017/2018
Course type: 
Compulsory subjects, characteristic of the class
Credits: 
6
Period: 
First Semester
Standard lectures hours: 
40
Detail of lecture’s hours: 
Lesson (40 hours)
Requirements: 

None

Final Examination: 
Orale

Written exam at the end of the Course re: the topics discussed in Class and materials indicated (see reference books list). The final written exam is administered on paper and consists of up to 6/8 items where students are required to produce a short dissertation in one hour. Candidates are expected to answer by providing a shorter text. Some items may require to do some calculations as well as to provide graphic representations.
The goal of the written exam is to assess the student’s knowledge on the whole program as well as his/her ability to synthetically pitch the concepts learned during the course. For students attending the class the final assessment might be complemented by the evaluation of class participation. Bonus points might be collected through voluntary individual class participation and group assignments.
The final grade is the sum of the points obtained (exam+bonus points). To succeed, students must obtain not less than 18 (eighteen) out of 30 (thirty). Students who obtain a total sum higher than 30 are entitled to pass the exam with honor (cum laude).

Assessment: 
Voto Finale

The course aims at understanding the role of entrepreneurship and innovation in the current competitive landscape. The course provides students with useful management tools for the creation and management both of startup and spin-off companies, as well as managing innovation processes in established corporate entities.

At the end of the course students have to prove they have learned the core theories and the appropriate terminology used in the field of studies of entrepreneurship and innovation management. Students have also to prove that they can use/manage all the tools presented during the course re: startup creation, business planning, business modeling, fund raising.

DETAILED PROGRAM:

A) INTRODUCTION (4 hours)
Globalization and competitive advantage
Entrepreneurship in Europe: key issues and opportunities
State of entrepreneurship in Europe:
o NewCos (Startup/ Spinoff)
o Established Companies

B) STARTUP ECONOMY (8 hours)
Entrepreneurial models
o Startup vs Spinoff
o Fast Growth Business vs Life Style Companies
Profiling the startupper
o Age, education, prior experience
o Novice vs serial entrepreneurship
o Geography and Business
o Bootstrapping vs Third Party Capital
The startup approach
o Fail, Frequent, Fast
o Get it Big
The Techno-Entrepreneur
o Scientist vs Entrepreneur
o Turning Science into Business

C) DEFINING THE BUSINESS IDEA AND DESIGNING THE BUSINESS MODEL (8 hours)
How to identify and communicate the Value proposition
Strategy vs. Business Model vs. Revenue Model
The Milestone Bridge
Selecting the Activity List
Focus, Locus and Modus
o Housing vs Outsourcing vs Partnership
o Brain vs Labour vs Technology Intensity
Business models for high-tech companies
o Web-based, green/clean-tech and life science

D) WRITING THE BUSINESS PLAN (8 hours)
Main contents
o Opportunity
o Market
o Team
o Financials/Business Model
How to present a business plan
o The Elevator Pitch
o The Dave McClure approach
The Lean Startup
o “Time-quality-money, pick two”
o Pivoting

E) RAISING MONEY (8 hours)
The Venture Capital industry
o Business Angels, Seed investors, Accelerators
o Venture Capital
o Private Equity
The financing rounds
o Seed
o Series A and later
The exit
o M&A vs IPO
How to deal with investors and negotiate a term sheet
o Standard terms
o Pre- vs Post-Money Valuation
o Multiples and e Liquidation preferences

F) USE CASES (4 hours)
Business case discussion and working groups

At the beginning of the course, the detailed program along with the schedule of the lessons will be published on the e-learning platform.

- Onetti A. - Marinucci M. (2013), Introduction to Entrepreneurship. From Startups to Venture Financing.
Mind the Bridge Job Creator Tour 2013, Mind the Bridge Foundation,
http://www.slideshare.net/mindthebridge/onetti-marinucci-mtb-job-creator...
- Onetti A. (2015), Always Mind the Exit, https://prezi.com/pg7cho95bxqf/startups-always-mind-the-exit/
- Onetti A. (2015), Financials: Forecasting & Reporting,
https://prezi.com/rkwvnr1fwbz1/financials-forecastingreporting-by-albert...
- Onetti A. (2014), Scaleups. When does a Startup turn into a Scaleup,
http://startupeuropepartnership.eu/scaleups-when-does-a-startup-turn-int...
- Onetti, A. (2016), Scaleups. How to Measure Scaleup Performance,
http://startupeuropepartnership.eu/scaleups-measure-scaleup-performance/
- Marinucci, M. (2014), Scaleup Metrics, http://startupeuropepartnership.eu/scaleupmetrics/
- SEP Monitor (2017), Scaleup Europe, http://mindthebridge.com/portfolio/sep-monitor-scaleup-europe/
- SEP Monitor (2017), European Dual Companies,
http://mindthebridge.com/portfolio/report-june-2017-european-dual-compan...

Supplementary readings:

- Onetti A. – Zucchella A. (2014), Business Modeling for Life Science and Biotech Companies: Creating Value and Competitive Advantage with The Milestone Bridge; Routledge Studies in Innovation, Organizations and Technology, Routledge.
- Onetti, A., Zucchella, A., Jones, M. V., McDougall-Covin, P. P. (2012), Internationalization, innovation and entrepreneurship: Business models for new technology-based firms, in “Journal of Management and Governance”, Special Issue: Entrepreneurship and strategic management in Life sciences, Business Models for High-Tech Companies, Vol. 16, No. 3, pp. 337-368.
- Other readings uploaded on the e-learning platform.

Lectures (mainly), case discussion, seminars

Office hours as indicated in the professor’s homepage.

Professors