New Venture Creation

2019-2020

Course Objective

In this course students create a business plan for a start-up venture
based on knowledge provided in the previous courses of the
Entrepreneurship minor (bridging theory and
practice).

The student will first learn to systematically identify and evaluate
entrepreneurial opportunities. A business opportunity is developed using
the business model canvas. The student is able to use brainstorming and
creativity in the process.
The student teams will test the business idea by collecting and
analysing data to support the idea in the business plan and validate a
possible investment in the business (quantitative skills). As part of
the validation of the idea the concepts of sustainability, valorisation
and technology will be used to categorise and demonstrate the economic
feasibility of the idea. The course results in a business plan critical
for successfully introducing a
knowledge-driven innovation to the market.

The student cooperates with others in a team and presents and defends
the business idea. Interviews and discussions with stakeholders of the
business like investors, possible customers and partners gives insight
in the context and validity of the idea. (social skills). The student
will present the business plan to a panel of experts and entrepreneurs
and learn to judge and evaluate different business plans (bridging
theory and practice). Reflection on the process of developing a plan at
the end of the course will result in feedback on what the student
learned, what choices he/she made and how he/she was learning in the
group (self awareness).

The course will challenge the student to use the skills and knowledge
from previous courses and experiences. The course expects the students
to interact with professionals from the community of entrepreneurs and
business developers and society at large.

Course Content

What is a startup? What does the entrepreneur do? And what
characterizes good, structured and effective business development?

In this course students work to create a business plan to validate a
business idea in an iterative process. During this process business- and
entrepreneurial theories are used in a context specific application.

In order to invest in a plan (this investment can be time, energy,
knowledge, network and money) an entrepreneur needs to constantly learn
and reflect and put this experience in his business and his business
plan. A start-up will go through iterations, get feedback and change
course during its
development. These iterations are part of the course where feedback from
professionals and coaches are integrated.

The Business Model Canvas is used to create a valid strategy to connect
the needs of the customer with the
value proposition and the required resources. Also the aspects of
competition and sustainability are researched and connected to the
overall aim of the business. Students will use valorization of new
technology and academic knowledge to bridge the gap between research and
practice. In the course students are challenged to think of alternative
forms of financing such as crowd funding, subsidies and business angels
to finance the business.

As the investors expect the business to create a return on investment
the students will generate market knowledge about the customer needs,
the product market fit and the growth potential. To make the business
plan ready for evaluation by investors and stakeholders Investment
analysis is an essential part of the business plan development.

The students will present to a panel of experts, entrepreneurs and
investors. They will give feedback with a market perspective and based
on their experience.

Teaching Methods

Lectures and tutorials.

Method of Assessment

individual and group assessment

Literature

Required Reading:
- Sørensen, H. E. (2012). Business Development: A market-oriented
perspective. West Sussex, United Kingdom: John Wiley & Sons Ltd.

Additional (required) materials will be announced via Canvas.

Target Audience

Students of the minor in entrepreneurship and other third year students
with an intrest in business.

Recommended background knowledge

Basics of business administration or economics.

General Information

Course Code E_BK3_NVC
Credits 6 EC
Period P3
Course Level 300
Language of Tuition English
Faculty School of Business and Economics
Course Coordinator drs. A.C. Guldemond
Examiner drs. A.C. Guldemond
Teaching Staff drs. A.C. Guldemond

Practical Information

You need to register for this course yourself

Last-minute registration is available for this course.

Teaching Methods Lecture, Study Group
Target audiences

This course is also available as: