Entrepreneurship and Innovation for PhD students

Entrepreneurship and Innovation for PhD students (Pilot)

Date:
28 May 2015 00:00 hrs. - 31 December 2015 00:00 hrs.
Location:
Location see remarks
Title:
Entrepreneurship and Innovation for PhD students (Pilot)
28-05-2015 00:00:0031-12-2015 00:00:00Europe/AmsterdamEntrepreneurship and Innovation for PhD students (Pilot) Location see remarksRimlsrimls@radboudumc.nl

Remarks / more information:

Entrepreneurship and Innovation for PhD-students

Lecturers
dr. Robert Kok, dr. Paul Ligthart

Course description
Key to both entrepreneurship and innovation is creating a new venture through the development of new products and/or services. Both practices do not only have societal benefits like economic growth and employment but become increasingly also a career path for individuals aiming at initiating a start-up enterprise (business or as freelancer (e.g. “zzp-er”) or within an existing company as an intra-preneur. Also within the “business” of scientific research, researchers are considered to be more and more focused on valorization.

The focus of this course will be on the challenges an entrepreneur faces when starting a business in a high-technology and/or high-service context. To increase the chances of success in such a context, the entrepreneur has to anticipate key decisions with respect to 1) the development of product/service innovation, its proactive marketing and 2) the development of the business/organization (e.g. strategic positioning, organizational structures, financial feasibility) to realize the added value of the innovation. The aim of this course is to apply models and concepts from strategy, marketing, finance and innovation management to substantiate key decisions of a (starting) enterprise.

Goals
After completion of the course, Ph.D.-students are familiar with the setup of a business plan, and are able to apply strategy, marketing, finance, and innovation concepts in order to substantiate critical strategic decisions underlying the start of a new business.

Prime learning objectives are that:

  • participants acquire insights regarding strategy, marketing, finance and innovation concepts relating to creating a new business in high technology markets;
  • participants learn to apply these concepts from business administration to analyze the challenges that entrepreneurs encounter when starting a business in a high-technology / high-service context;
  • participants learn to substantiate the critical decisions underlying the development of a feasible business plan;


Workshops

Appropriate concepts and models will be discussed in class by means of 10 interactive workshops, 6 assignments, and presentations. In every workshop an assignment (part) is introduced with a short lecture and/or discussed through presentations and feedback. Based on these activities and assignments, students will develop a substantiated business plan for a startup in a multi-disciplinary teams (of preferably two persons), acting as upcoming entrepreneurs either in a high-tech or high-service context. Such a business development plan enables startups to anticipate on issues that have short and long term consequences for the performance of the enterprise. For each assignment the teams may consult the lecturer.

Guest speaker(s) will address practical issues that starting entrepreneurs face when looking for interesting product/market combinations and to start a business.

Outline of workshop and assignment topics
Session 1. The challenge of entrepreneurship and innovation in a business context

  • Defining innovation and entrepreneurship
  • Describing perspectives such as open innovation and network perspective
  • Understanding the new product/service process model and models of strategy and organization

Session 2. Generating and screening of ideas and concepts

  • Using research and creativity to generate ideas and screen them on ‘must meet’ criteria
  • Develop ideas into concepts and screen them on preliminary technical and market assessment

Session 3. Guest speaker (CEO of a start-up / Director of incubation centre)

Session 4. Developing and reviewing business case and prototype

  •          Writing a business case and review its market potential
  •          Develop a prototype and review its technical feasibility

Session 5. Setup market testing and launch plan

  •          Setup a feasible market test
  •          Develop a launch plan for Production (upscaling) and Marketing (segmenting, targeting, positioning),

Session 6. Develop a customer value proposition

  •          Integrating market analyses with technical knowhow

Session 7. Develop the strategy of the startup

  •          Draw up the objectives, mission, vision and strategy

Session 8. Organizational development

  •          Setting in motion (organization structure/human resources, legal structure, and ICT)

Session 9. Writing financial paragraph

  •          Break-even point analysis
  •          Cash flow analysis
  •          Balance sheet / profit-loss statement

Session 10. Integrating all organizational aspects into a business plan and closing the course

  •          Synthesizing all aspects in a coherent business plan structure
  •          Final concluding remarks


Suggested literature

Selected chapters from:

  •          Allen, K.R. (2012). New Venture Creation, 6th International edition, South-Western Cengage.com Learning ISBN-13: 9780538481977
  •          Trott, P. (2012). Innovation Management and new product development. 5th Prentice-Hall
  •          Handouts


Number of Ph.D.-students

min. 6 and max. 16

Workload for Ph.D.-students
3 ECTS (84 hours):

  •          10 workshops of 2 hours: 20
  •          6 assignments of 6 hours: 36
  •          Reading literature: 28


Registration

To register for this course you need to fill in this registration form.

Personnel Department
Do you want more information? Please contact Daisy van de Geijn on (024) 36 12702 or send an email to d.vandegeijn@dpo.ru.nl



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