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Regular version of the site
Master 2020/2021

Venture Capital Investment

Type: Elective course (Management)
Area of studies: Management
Delivered by: Department of Venture Management
When: 1 year, 2 module
Mode of studies: offline
Open to: students of all HSE University campuses
Master’s programme: Management
Language: English
ECTS credits: 4

Course Syllabus

Abstract

This course deals with setting up new ventures in providing strategies to fund them. The course will highlight the generation of business models and especially also the financial metrics that are important to consider. However, the perspective is not only relevant for founders of new ventures but also for people working in the banking sector will increasingly deal with funding innovative new ventures. For people working in the banking industry is important to judge investment projects and the course provides several tools to manage new venture investments using the tools of financial economics.
Learning Objectives

Learning Objectives

  • Understanding of the tools for setting up new ventures including the financial components of business models.
  • Creating business models and key elements in attracting funding.
  • Judging new venture funding from the perspective banks, business angels, and venture capital.
Expected Learning Outcomes

Expected Learning Outcomes

  • Knows what a business-model is. Knows its components and how they are connected.
  • Knows the basic concepts of venture management, methods and tools of venture capital investment
  • Is able to develop investment proposals for venture capitalists
  • Is able to assess the attractiveness of an investment project methodically and correctly
  • Knows the stages of venture capital investment
  • Is able to apply modern methods of assessing the value of an innovative company and investor's share
  • Is able to develop and evaluate a presentation of a project/ a pitch
Course Contents

Course Contents

  • Understanding business models for entrepreneurs and investors
  • Managing funding needs and entrepreneurial finance
  • Financial statements for new ventures
  • Understanding new venture investment
  • Creating terms sheets and attracting venture capital
  • Corporate entrepreneurship and corporate venturing
  • Presenting, pitching, and judging business plans
Assessment Elements

Assessment Elements

  • non-blocking Group work case studies (Labs)
  • non-blocking Group work presenting a business plan for investment (Labs)
  • non-blocking Examination
    Экзамен проводится в устной форме (presentation of the investment proposal). Экзамен проводится на платформе Zoom (http://zoom.us/) К экзамену необходимо подключиться согласно расписанию ответов, высланному преподавателем на корпоративные почты студентов накануне экзамена. Компьютер студента должен удовлетворять требованиям: наличие рабочей камеры и микрофона, поддержка Zoom. Для участия в экзамене студент обязан: поставить на аватар свою фотографию, явиться на экзамен согласно точному расписанию, при ответе включить камеру и микрофон. Во время экзамена студентам запрещено: выключать камеру, пользоваться конспектами и подсказками. Кратковременным нарушением связи во время экзамена считается нарушение связи менее пяти минут. Долговременным нарушением связи во время экзамена считается нарушение пять минут и более. При долговременном нарушении связи студент не может продолжить участие в экзамене. Процедура пересдачи аналогична процедуре сдачи.
Interim Assessment

Interim Assessment

  • Interim assessment (2 module)
    0.3 * Group work case studies (Labs) + 0.4 * Examination + 0.3 * Group work presenting a business plan for investment (Labs)
Bibliography

Bibliography

Recommended Core Bibliography

  • Alexander Osterwalder Yves, Er Osterwalder, Yves Pigneur, Tim Clark, Ellen Di Resta, Michael Anton Dila, Remko Vochteloo, Victor Lombardi, Matthew Milan, Ralf Beuker, Sander Smit, Norbert Herman, Karen Hembrough, Yves Claude Aubert, Wim Saly, Frank Camille Lagerveld, Andres Alcalde, Alvaro Villalobos M, Bernard Racine, … Praveen Singh. (n.d.). Business Model Generation A Handbook for Visionaries, Game Changers, and Challengers.
  • Alhabeeb, M. J. (2015). Entrepreneurial Finance : Fundamentals of Financial Planning and Management for Small Business. Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=957003
  • Feld, B., & Mendelson, J. (2019). Venture Deals : Be Smarter Than Your Lawyer and Venture Capitalist (Vol. Fourth edition). Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2238516
  • Gompers, P. A., & Lerner, J. (1999). The Venture Capital Cycle. MIT Press.
  • Miranda S. Lam, & Gina Vega. (2020). Entrepreneurial Finance : Concepts and Cases. Routledge.
  • Rogers, S., & Makonnen, R. (2009). Entrepreneurial Finance : Finance and Business Strategies for the Serious Entrepreneur: Vol. 2nd ed. McGraw-Hill Professional.

Recommended Additional Bibliography

  • Alexander Osterwalder, & Yves Pigneur. (2010). Aligning Profit and Purpose Through Business Model Innovation. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.518B3EE4
  • Alexander Osterwalder, Er Osterwalder, Mathias Rossi, & Minyue Dong. (2002). The Business Model Handbook for Developing Countries. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.63A7BE39
  • Block, J. H. (Jörn), Groh, A. (Alexander), Hornuf, L. (Lars), Vanacker, T. (Tom), & Vismara, S. (Silvio). (2020). The entrepreneurial finance markets of the future: a comparison of crowdfunding and initial coin offerings. https://doi.org/10.1007/s11187-020-00330-2
  • Christoph Zott, & Raphael Amit. (2006). Exploring the fit between business strategy and business model: Implications for firm performance. Working paper. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.FF466C
  • Gibbons, G. E. (Eugene), Hisrich, R. D. (Dale), & DaSilva, C. M. (2014). Entrepreneurial Finance : A Global Perspective. SAGE Publications, Inc.
  • Harvard Business Review, Clayton M. Christensen, Mark W. Johnson, Rita Gunther McGrath, & Steve Blank. (2019). HBR’s 10 Must Reads on Business Model Innovation (with Featured Article “Reinventing Your Business Model” by Mark W. Johnson, Clayton M. Christensen, and Henning Kagermann). Boston, Massachusetts: Harvard Business Review Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1855536
  • Zott Christoph, & Amit Raphael. (2017). Business Model Innovation: How to Create Value in a Digital World. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.66E8A105
  • Zott, C., Amit, R., & Massa, L. (2010). The business model: Theoretical roots, recent developments, and future research. IESE Research Papers. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.ebg.iesewp.d.0862