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.
• Globalization and competitive advantage
• Entrepreneurship in Italy: key issues and opportunities
• State of entrepreneurship in Italy:
o NewCos (Startup/ Spinoff)
o Established Companies
B) STARTUP ECONOMY
• 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
• 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
• Main contents
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”
E) RAISING MONEY
• The Venture Capital industry
o Business Angels, Seed investors, Accelerators
o Venture Capital
o Private Equity
• The financing rounds
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
• Business case discussion and working groups
Written exam at the end of the Course re: topics discussed in Class and materials listed in reference books and additional readings.
- Onetti A. – Zucchella A. (2013), 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, forthcoming.
- 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, first online 2010 (DOI 10.1007/s10997-010-9154-1), print version: August 2012, Vol. 16, No. 3, pp. 337-368.
- Onetti A. - Marinucci M., Introduction to Entrepreneurship. From Startups to Venture Financing. Mind the Bridge Job Creator Tour 2013, Mind the Bridge Foundation, 2013. http://www.slideshare.net/mindthebridge/onetti-marinucci-mtb-job-creator....
- Onetti, A., Talaia M., Presutti M., Odorici V.E., Verma S. (2010), The role of serial entrepreneurs in the internationalization of global start-ups. A business case ; in “Journal of Strategic Management Education”, Vol. 6, No. 1, pp. 79-94.
- Byers T.H., Dorf R.C., Nelson A.J. (2010), Technology Ventures: From Idea to Enterprise, McGraw-Hill Education (ISBN 978-0073380186).