Entrepreneurship

Understand the challenges of value appropriation by entrepreneurs Understand the potential benefits and the challenges of the management of intellectual property by entrepreneurs Analyze the dilemmas that founders face in their decisions regarding the founding team. Identify the challenges to obtain financing by entrepreneurs Understand the role of venture capital financing Apply the valuation method used by venture capital

1. The entrepreneur's pre-founding dilemmas 2. The entrepreneur's founding team dilemmas 3. The entrepreneur's investor dilemmas 4. Value creation vs value appropriation for entrepreneurs 5. Scaling dilemmas: hiring, firing, CEO succession 6. Financing sources for entrepreneurs 7. Venture Capital and Valuation methods

The class will combine the exposition of theoretical concepts with the pedagogical use of case studies that will serve as illustration of the concepts. The students are required to prepare readings and cases in advance and to be actively involved in class discussions During the course, the students will develop, in teams, the financial plan of a business idea.