OVERVIEW

The topic of entrepreneurship is very relevant for Italy, particularly at this historical moment that finally sees an increase in the awareness of the importance of new innovative businesses, the so-called startups, for our economic system and its future development. In a mature economy like ours, it is precisely the development of new businesses that drives the growth of new employment and GDP.

The main goal of this course will be to explain, with many practical examples and also with in-class testimonies from important actors in the startup ecosystem, what startups really are, what distinguishes them from traditional SMEs, what rules to follow, and what opportunities to seize in order to enter this world as a main player, that is, as an entrepreneur startupper.

AIMS AND CONTENT

LEARNING OUTCOMES

The course aims to provide both theoretical and practical knowledge of the entrepreneurial model of innovative startups. It highlights the differences between this model and the more traditional one of SMEs. All the necessary details are provided to best prepare students for an entrepreneurial venture. The course covers all the techniques and methodologies required for this purpose. 

AIMS AND LEARNING OUTCOMES

The objectives to be achieved in this course are:

1.  Awareness of the fundamental characteristics of a new startup, understood as a ’new innovative enterprise that follows the reference entrepreneurial model in its inception and development.

2.  Learning the method of market analysis and development and drafting of the Business Plan, understood as the summary of all the topics that a potential startup entrepreneur must develop, deepen, and master before presenting to the market, both to investors and potential clients.

3.  Practical concretization of all this information obtained through the development of an “Elevator Pitch” to be presented to all students in a final session; this EP can be realized independently or in a group (max 4 students), and its result will be part of the final exam grade; the business and market ideas developed in the Pitch can also be imaginative and difficult to implement in practice. What is intended as the outcome of the course is the awareness of the method underlying the preparation of a Business Plan for a new innovative company.

At the end of the course, the student will be able to develop an autonomous Business Plan related to their own entrepreneurial idea with form and content adequate to receive attention from the world of investors and potential future clients.

PREREQUISITES

Students will need to master the basic concepts and models in the areas of entrepreneurship, market, business, corporate strategy, and finance.

TEACHING METHODS

The course consists of 12 two-hour sessions, one of which will be dedicated to the visit of one or two young startups from Liguria. Finally, the concluding session will be based on the presentation of mini business projects and their respective pitches, which will form a fundamental component of the overall evaluation of the course.

As previously stated, one of the two-hour sessions will be based on the in-class presentation of one or two young startups from Liguria with the aim of sharing field experiences of young entrepreneurs who, a few years earlier, embarked on the great adventure of creating their own startup. This will provide students with the opportunity to gather their experiences and ask any questions they deem appropriate.

Students who have valid certification of physical or learning disabilities  and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with the instructor and with Professor Serena Scotto (scotto@economia.unige.it), the Department s disability liaison

SYLLABUS/CONTENT

The course is primarily designed to clarify and make students aware of the issues and opportunities related to creating a new innovative company that fits the fundamental principles of the startup entrepreneurial model. It will begin with an in-depth exploration of the concept of Innovation as applied to the industrial world, both large and small enterprises, using and analyzing in detail the Gary P. Pisano model from Harvard Business School (references in the bibliography).

Then, the topic of entrepreneurship will be addressed, focusing on who the entrepreneur is, particularly who the startup entrepreneur is, as we will see a specific type of entrepreneur. Are entrepreneurs born or made?

A startup is not “simply” a Newco, but a Newco that, in its design and implementation, follows certain typical and unique aspects that will be described and analyzed in the subsequent phases of the course. For example, it is a team effort and never just an individual endeavor, where the team consists of more than one founder and, right from the start, includes investors who come on board, sharing risks and rewards with the founders.

In subsequent lessons, the fundamental points of the Business Plan will be analyzed and examined in depth, not as a table of numbers or as the pages of a financial statement, which startups do not have until they manage to take off, and therefore for several years, but as fundamental elements to be analyzed and studied to create a Business Project. Description of the Business idea, Product/Service, Market analysis, Competitor analysis, definition of the Business Model and competitive advantages, description of innovative aspects both technological and Business Model, Go-to-Market Strategy, Financing Strategy, financial tables which in the early years are essentially the forecast table of costs and Cash Flow analysis.

The Business Plan can be represented in various ways: in the classic verbose textual scheme, in its brief version called Executive Summary, and especially in its graphic version, the famous “Elevator Pitch”.

This course is based on this latter version of the BP, aiming to provide the basics and useful tricks to create an engaging Pitch capable of garnering interest from potential investors and future customers. Many high-quality Pitches will be shown as examples to follow and on which to base one’s business strategy.

RECOMMENDED READING/BIBLIOGRAPHY

The sources will be indicated as needed based on the requirements for deepening the individual topics. At the end of each lesson, the slides will be uploaded to Aulaweb. Additionally, both for attending and non-attending students, either the following readings will be uploaded or suggested:

1.  An essential article by Gary P. Pisano of Harvard Business School titled “You Need an Innovation Strategy,” published in the June 2015 issue of the Harvard Business Review;

2.  The book: “Disciplined Entrepreneurship: 24 Steps to a Successful Startup,” written by Bill Aulet, Director of the Martin Trust Center for MIT Entrepreneurship; Wiley. Various themes and topics from this book will be used and explored in depth.

For those who wish to delve deeper into the subject, although these books will not be a substantial part of the teaching, some concepts from them will be utilized:

1.  Eric Ries, “The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses”; Crown Currency;

2.  Paul Cheek, “Disciplined Entrepreneurship: Startup Tactics,”; Wiley Publisher;

3.  Gary P.Pisano, “Creative Construction”; The DNA of Sustained Innovation, BBS Public Affairs New York.

LESSONS

LESSONS START

The lessons take place in the second semester, according to the schedule and timetable defined by the Department of Economics.

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

For attending students, the final evaluation is based on the presentation of group projects. Specifically, the preparation and presentation in class of an “Elevator Pitch” will be required, carried out in small groups of up to 4 students each, following the rules that will be described during the course. The Elevator Pitch is essentially a presentation of a maximum of 10-12 slides that graphically and convincingly summarizes all the fundamentals and basics of a Business Plan for a new innovative company. The Pitch must contain all the topics that form the basis of a Business Plan. The entrepreneurial idea described in the Pitch will be chosen by the team with the main purpose of simulating in the best possible way the work necessary to finalize an innovative business project. Business and market ideas can also be imaginative and difficult to implement in practice; what is intended as the outcome of the course is the awareness of the method underlying the preparation of a Business Plan for a new innovative company.

For non-attending students the final evaluation is based on an exam on examination calendar dates.

The course is classified as Other educational activity and therefore the outcome of the exam is expressed in terms of eligibility.

ASSESSMENT METHODS

For the preparation of the “Elevator Pitch,” students should use any digital tool for the purpose, such as Microsoft PowerPoint, Canva, or equivalent platforms.

The final assessment of the Elevator Pitch will take place in two ways: in class, during a dedicated session where all students and teams who are ready will present their pitches to the rest of the class. Students who, for any reason, cannot attend the public presentation session will have the opportunity to present individually or as a team during the exam phase. It is believed that the “public” presentation has much higher educational value, and therefore students are encouraged to organize themselves for this purpose.