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 of this teaching are:

1. Awareness of the fundamental characteristics of a startup, understood as a new innovative company that follows the reference entrepreneurial model in its creation and development;
2. Learning the method for market analysis and for developing and drafting a Business Plan, intended as the synthesis of all the topics that a potential startup entrepreneur must explore, master, and develop before approaching the market—both investors and potential clients;
3. Practical application of all this knowledge through the development of an Elevator Pitch to be presented to all students in a final session. This Elevator Pitch can be developed individually or (recommended) in a group (from 2 to 5 students), and its evaluation will contribute to the final exam grade. The business and market ideas presented in the pitch may be imaginative or not easily feasible in practice; what matters is the understanding of the method behind preparing a Business Plan for a new innovative company.

At the end of the teaching, students will be able to develop an independent Business Plan for their own entrepreneurial idea, with form and content appropriate to attract the interest of potential investors and clients.

The teamwork conducted by attending students serves a dual purpose:

• to demonstrate their understanding of the techniques and methodologies developed during the teaching, and
• to practice teamwork and the multidisciplinary approach required for a successful entrepreneurial experience.

Therefore, students will work together within their group to define the business project, agreeing on the division of roles within the team. These roles will be clearly outlined in the final presentation in front of the other students and a qualified jury, where each team member will have to explain and detail their role and responsibilities.

PREREQUISITES

Students will be required to master the fundamental concepts and models related to entrepreneurship, market, product/service, company, business strategy, and finance.

TEACHING METHODS

The teaching is structured into 12 two-hour sessions, one of which—toward the end of the course—will be dedicated to a visit of three young startups based in Liguria. The goal is to provide students with real-world exposure and the opportunity to engage directly with young entrepreneurs, asking targeted questions and gaining insight from those who have recently embarked on the exciting journey of building their own startup.

An additional two-hour session will be devoted to a meeting with three startup investors based in Genoa, offering students a direct perspective on what investors look for and how funding decisions are made. These real-life enrichment sessions are typically highly appreciated by students.

Finally, the closing session will focus on the presentation of student startup mini-projects and their corresponding Elevator Pitches, which will form the core component of the course’s overall assessment.

SYLLABUS/CONTENT

The teaching is primarily designed to clarify and raise students’ awareness of the challenges and opportunities related to the creation of a new innovative company that aligns with the fundamental principles of the startup entrepreneurial model.

The starting point will be an in-depth exploration of the concept of Innovation as applied to the industrial world—both large and small enterprises—through the detailed analysis of Gary P. Pisano’s model from Harvard Business School (referenced in the bibliography).

We will then address the theme of entrepreneurship: who is an entrepreneur, and more specifically, who is a startup entrepreneur, a distinct type of entrepreneur, as we will see. Are entrepreneurs born or made?

A startup is not simply a Newco; it is a Newco that, in its design and implementation, follows certain specific and unique characteristics that will be described and analyzed in the subsequent phases of the course. For instance, it is inherently a team effort, never solely an individual one. The team consists not only of multiple founders but also—right from the beginning—of investors who come on board and share both the risks and the rewards with the founders.

In the following lessons, we will analyze and examine the key components of a Business Plan, not intended as a mere financial spreadsheet or detailed budget—tools that startups typically don’t need until they gain real traction (often after a few years)—but rather as a comprehensive description of all the essential elements that must be studied and defined to build a business project. These include:

    •    The business idea and the product/service,

    •    Market analysis,

    •    Competitive analysis,

    •    Definition of the business model and competitive advantages,

    •    Description of innovative aspects, both technological and in the business model itself,

    •    Go-to-market strategy,

    •    Funding strategy,

    •    Basic financial tables focused primarily on cost forecasting and cash flow analysis in the early years.

The Business Plan can be represented in various formats:

    •    The classic, detailed text-based format,

    •    A concise Executive Summary,

    •    And most importantly, the graphic and narrative version known as the Elevator Pitch.

This teaching focuses particularly on the Elevator Pitch, aiming to provide students with the foundations and practical tips needed to create a compelling and engaging pitch capable of attracting interest from potential investors and future customers.

Throughout the teaching, numerous high-quality pitch examples will be shown as models to follow and as inspiration for developing one’s own business strategy. More broadly, each topic covered in the course will be supported by real-world examples, drawing on successful companies that students are likely already familiar with.

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.

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

The lessons take place in the second semester, according to the schedule and timetable defined by the Department of Economics, https://easyacademy.unige.it/portalestudenti

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

For attending students, the final evaluation is based on group project presentations. Specifically, students will be required to draft and present in class an Elevator Pitch, developed in small teams of up to 5 students, following the guidelines provided during the course.

The Elevator Pitch consists of a visually engaging and persuasive presentation (maximum 10–12 slides) that summarizes the key components of a Business Plan for a new innovative company. The Pitch must cover all the essential topics typically included in a Business Plan.

The entrepreneurial idea featured in the Pitch will be selected by each team, with the main objective of simulating the actual process of developing an innovative business project. Business and market ideas may also be imaginative or hard to implement in practice; the true goal is to build awareness and understanding of the methodology behind preparing a Business Plan for an innovative startup.

For non-attending students, the final evaluation consists of a 30-minute oral exam, to be taken according to the official exam schedule.

This course is classified as an “Other Educational Activity”, and the final result is expressed as pass/fail (idoneità).

ASSESSMENT METHODS

The final evaluation of the Elevator Pitch will typically take place during the last scheduled class session, in a dedicated session where all students and teams that are ready will present their projects in front of the class and a qualified jury, which will select the best project.

This “pre-exam” session may fulfill the pass requirements (idoneità) for the students in each presenting team.

As previously mentioned, non-attending students must take the official oral exam during the regular exam sessions listed in the academic calendar.

There is no doubt that a significant part of the educational and formative value of this teaching lies in active participation and in the completion of the group project, which simulates the real process of launching a startup by a founding team.

Students are therefore strongly encouraged to attend the course—which requires just two hours per week—and to actively participate in the group project.

FURTHER INFORMATION

Any additional information not included in this teaching schedule may be asked directly to the professor using a mail message at the address: massimo.vanzi@edu.unige.it