Enrolment options
Brief Description of Aims and Content:
This module assists aspiring IT entrepreneurs in developing great ideas into great companies. With strong economies presenting rich opportunities for new venture creation, and challenging economic times presenting the necessity for many to make their own job, the need to develop the skills to develop and act on innovative business opportunities is ever present. Using proven content, methods, and models for new venture opportunity assessment and analysis, students will learn how to enhance their entrepreneurial mindset and develop their functional skill sets to see and act entrepreneurially. The initial steps to creating a business plan are examined as well. Our goal is to demystify the startup process, and to help you build the skills to identify and act on innovative opportunities now, and in the future. This module will as well demonstrate to students how to secure funding for their company. It will demystify key financing concepts to give IT aspiring entrepreneurs a guide to secure funding.
Learning Outcomes
Having successfully completed the module, students should be able to:
- Develop innovative ideas for new companies
- Develop their functional skill sets to see and act entrepreneurially
- Secure funding for their businesses
- Enhance their entrepreneurial mindset
- Create an innovative business plan
Indicative Content
Section One: Entrepreneurial Perspective
- What is entrepreneurship?
- Who is an entrepreneur?
- Entrepreneurship, creativity, and innovation
- The world's most innovative companies
- Types of innovations
- Entrepreneurs and strategic decisions
- The opportunity analysis canvas
Section Two: Entrepreneurial Mindset, Motivations and Behaviors
- Entrepreneurial mindset
- Entrepreneurial motivations
- Entrepreneurial behaviors
- Risk taking in entrepreneurial decision-making
- Risk, uncertainty, and stakeholder involvement
Section Three: Industry Understanding
- Knowledge conditions
- Demand conditions
- Industry lifecycle
- Industry structure
- Competitive advantage
- Learning curve
- Complementary assets
- Reputation effects
Section Four: Customer Understanding and Business Models
- Macro changes that increase new venture opportunities
- Exploring and satisfying real market needs
- Strategic positioning and planning
- Value innovation
- Opportunity identification
- Business modeling
- Business planning
Section Five: Sources of Capital for the Early Stage Company
- Where to find investors?
- Why consider friends and family as investors?
- What’s bootstrapping?
- Are incubators and accelerators a fit?
- What are angel investors?
- When to explore early-stage venture capital?
- When are you ready for late-stage venture capital?
Section Six: Getting Funded – Steps in the Funding Process
- What is due diligence?
- What is your company worth?
- How to negotiate a term sheet?
- How to establish common stock?
- When to use convertible notes?
- What is preferred stock?
- When to use alternative sources of capital?
Section Seven: Pitching Investors and Closing the Round
- What do investors need to see?
- How to create the pitch deck?
- How to tell your story?
- How to close the round?