Module 1 (Year 2, Term 2) – Entrepreneurship Theory and Practice
This is UCL’s principal Entrepreneurship course for students seeking to develop and test a new business idea. Over the past ten years we have taught entrepreneurship to around 3000 students resulting in the launch of a number of innovative businesses. The course covers: the new business lifecycle (selecting and testing a moneymaking idea, preparing a business plan, raising finance, the Exit), aspects of new business operation (registering a company, setting up your office, understanding financial statements), and exploiting new eCommerce tools and techniques (doing business electronically, company web sites, online business software and services).
*Please note that although the MSIN7008 Entrepreneurship: Theory & Practice module in Year 2 will not run during the scenario weeks, this is a 10 week programme and extra sessions will be schedule to replace the 2 missed in scenario weeks.
Module 2 (Year 3, Term 1) – Global Entrepreneurship
This course provides an introduction to the role of entrepreneurial individuals and organisations in shaping market economies worldwide and, more broadly, the direction and rate of social change. It considers the economic and social role of entrepreneurs, their interactions with institutions, how entrepreneurial opportunities arise and are identified, the nature of social enterprise and the “hybrid” organisation, and strategies for assessing the potential of new business concepts and thus improving the likelihood of the success of a high-impact venture. The course introduces frameworks to assess and to mitigate key risks to new ventures including those relating to personnel, markets and technologies.
Module 3 (Year 3, Term 2) – Entrepreneurial Finance
This module provides the necessary knowledge and skills to enable a student to understand the nature and characteristics of financial planning in the context of entrepreneurship. Contextually this involves the understanding of financial planning and reporting statements; the financial risks/rewards of entrepreneurship and innovation; new venture financial models and strategies; typical funding sources; the development of business presentations to attract outside funding; the due diligence process; and the strategies for negotiations for funding.
The module is divided into two parts. The finance part (taught by Simon Hulme) will enable students to understand all the key financial statements and concepts. The objective is to make students confident when talking to accounting professionals, bankers or venture capitalists about financial data. Classes are highly inter-active and short case studies and practical exercises are used to support the learning process. The financial assignment involves building a simple financial model in Excel, which can be used as a practical tool for a real-life start-up business, should the student wish.
The fundraising part of the module (taught by Itxaso del Palacio) is focused on understanding the process of raising external capital. This covers areas such as valuations of startups, due diligence processes, term sheets and negotiations with investors. Several professional investors and entrepreneurs will be sharing their experience and knowledge with students. Students will be able to meet them and learn from their experiences.
Dr David Chapman
UCL School of Management
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