MSING010: New Technology Ventures

Lecturer: Dr David Chapman

Aims

This course provides an introduction to business and entrepreneurship. It introduces strategies to assess the potential of a new business concept and thus improve the likely success of high-impact ventures. It covers methods for analysing, specifying, designing and launching high-tech businesses along with the knowledge and skills required to prepare a financial plan for a new business venture.

The aim of the course is to give an understanding of strategies for the assessment of a new business opportunity along with techniques for effective business planning to secure the necessary resources, including finance. The course introduces frameworks to assess and to mitigate key risks to new ventures including those relating to personnel, markets and technologies.

The course will draw on a range of case studies mostly from high-technology ventures to illustrate the challenges of creating high potential enterprises.

Objectives

By the end of the course students should:

  •  understand the key drivers of entrepreneurial behaviours and the importance of entrepreneurial activities within a market economy
  •  have a clearer view of how to judge the potential of a high-potential business concept and hence understand the difference between a true opportunity and just another supposedly 'neat’ idea
  •  understand the importance of building effective teams and relationships to support new venture creation and recognise the importance of direct experience in an industry and of reputation and existing relationships with others in the industry
  •  have an understanding of the various sources of finance - conventional and unconventional - and to know how to make a case to financial investors
  •  be able to demonstrate financial literacy in interpreting published and internal financial information and be aware of the importance of capital and revenue budgeting in planning and controlling new business venture
  •  recognise the effort and dedication needed to make a new business succeed


Suggested Reading:

Blank, S. & Dorf, B. 2012. The Startup owner’s manual: The step-by-step guide for building a great company. K&S Ranch inc