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Business Entrepreneurship Project – Spring 2013 Instructors: Karim Jabbar & Erdem Ovacik Time: Mondays and

Business Entrepreneurship Project Spring 2013

Instructors: Karim Jabbar & Erdem Ovacik

Time: Mondays and Thursdays, 8:30 9:50

Location: Vestergade 23 - 201

Study Tours: Southern Sweden & Dublin Suggested Majors: Business, Management, Marketing, Entrepreneurship, Leadership, Economics

Instructors:

Karim Jabbar, Cand. Marc, International Business Administration and Development Studies Copenhagen Business School, kja@dis.dk Erdem Ovacik, Master of Public Policy, University of California at Berkeley; erdemovacik@gmail.com

DIS Contacts:

Susanne Goul Hovmand, Program Director, sgr@dis.dk Monika Prokop, International Business Program Assistant, mpr@dis.dk

Course Description:

This core course is aimed at students who are interested in learning some of the main tools and skills required to successfully start up a business venture, and who are motivated to apply these tools in a real- life business project. Throughout the semester you will work on your own specific business project, get advice from experienced mentors, inspiration from real-life cases and academic visits, and hands-on experience tackling the challenges faced by real life entrepreneurs. We will employ modern methods and theories in this class. This includes lean methods, effectuation and business model generation techniques. Students will be asked to build hypotheses about their businesses and test these hypotheses hands on by in example conducting interviews, building websites. Through an intensive process you will get exposed to some of the main players on the Danish and Irish entrepreneurship scenes, including (i) start-ups in knowledge intensive industries such as IT, Life Sciences and Clean Tech, (ii) leading incubation mechanisms, and (iv) policy makers. The course will also be a great opportunity to build a strong network in northern European startup scene, which is seen as an up-and- coming global region for successful startups especially in IT and pharma. The course will work toward developing your own individual business plan in a format that is suited for pitching to potential funders and team members

Learning objectives:

Learning how to prepare and deliver an effective pitch of your (business) idea.

- Learning how to develop a business model for a startup venture through a process of mapping, testing and reassessing

- Understanding that entrepreneurship is an inherently dynamic process that requires a balance between planned focus and flexibility, and gaining the tools to better manage such a process.

- Applying the acquired tools to a specific personal business project.

Business Entrepreneurship Project | International Business | DIS - Danish Institute For Study Abroad | Related Majors: Business, Communications, Management

- Being able to see patterns in various entrepreneurial business cases, and being inspired to

- Being able to see patterns in various entrepreneurial business cases, and being inspired to use some of these patterns in your own business project.

- Getting an understanding of the entrepreneurial process in the tech industry, from idea to exit.

- Getting an understanding of the role and interplay between different actors on the entrepreneurial scene (Entrepreneurs, Science Parks, Venture Capitalists, Incubators/acceleration programs, Policy Makers).

- Getting first-hand knowledge of the entrepreneurial scene in Denmark, Sweden, and Ireland.

About the instructors:

Karim Jabbar holds an M.Sc. in International Business Administration and Development Studies from Copenhagen Business School (2001). He has held positions as Programme Manager at the Delegation of the European Commission in Cotonou, Benin (2002-2003), Research Assistant at the Danish Institute for International Studies (2001), and Managing Director for a travel company with subsidiaries in five African countries (2004-2007). With DIS since 2009. Erdem Ovacik: Master of Public Policy, University of California, Berkeley, 2007. Management consultant (2003-2005) Business development manager at MYC4.com (2007-2010), CoFounder Wedecide.com (2010- current). With DIS since 2012

Literature list:

- Godin, Seth: The dip: a little book that teaches you when to quit (and when to stick), 2007

- Kawasaki, Guy: The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything, 2004

- Ries, Eric: The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses, 2011

- Osterwalder, Alexander, et.al. : Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, 2010

- Read, Stuart, et.al. : Effectual Entrepreneurship, 2010

- + specific company cases and articles TBA

Core course week:

This week is entirely dedicated to the core course, and all other electives will be put on hold. The purpose of this exercise is to have an intense and unobstructed focus on the course, through workshops and seminars, as well as a 3-day study tour to Southern Sweden. Objectives of the core course week:

- Build a strong bond among the students, and an ease in sharing the ideas that will be the foundation of the projects for the remainder of the course.

- Inspire the student teams through interaction with key actors on the entrepreneurial scene in Copenhagen and in Southern Sweden

- Get an in depth understanding of the structure of the high-tech entrepreneurship sector in Scandinavia, hereunder the role of policy makers, science parks and business accelerator schemes, and well as the venture capital market in the region.

- Have workshops aiming at developing an initial draft business plan for the projects.

Long Study tour: Dublin The core course study tour will take you to Dublin, which prior to financial crisis became a hub for entrepreneurial activity primarily in high-tech sectors. Today, despite the downturn, Ireland is still one of the leading European countries in terms of entrepreneurship – and home to Google’s and Facebook’s

Business Entrepreneurship Project | International Business | DIS - Danish Institute For Study Abroad | Related Majors: Business, Communications, Management

European headquarters. According to the Global Entrepreneur Monitor report 2010 Ireland has the highest ranking

European headquarters. According to the Global Entrepreneur Monitor report 2010 Ireland has the highest ranking of all innovation driven economies in terms of innovation among early stage entrepreneurs.

Furthermore Ireland’s relative rate of entrepreneurial activity remains high compared to peer EU-15 countries. In 2010 Ireland ranked 2nd of thirteen EU-15 countries. Startupbootcamp is an entrepreneurship incubator in Ireland, and we will visit their offices. Objectives of the study tour to Dublin:

- Getting acquainted with the institutional set-up that contributed to establishing Ireland on the world entrepreneurship map

- Meeting with a number of successful start-up companies and entrepreneurship communities that will share their experiences with the student teams

- Getting inspiration that can be transferred to the specific projects that the student teams are working on during the semester

Grading:

In-class participation

Business model development: developing business canvas based on research and facts, and writing a

business plan. Validate assumptions supporting business model with lean techniques.

Attracting resources: includes presentation / pitch; funding seeking, team seeking, online presence. 30%

30%

40%

Note that this class is centered on students’ own business idea, and students must have strong drive to learning by doing, rather than passive studying.

Business Entrepreneurship Project Lecture Outline

Class

Date

Summary

Readings prior to class

Assignment to next class

1

17/01

Intro to course

   

(Th)

E&K

2

21/01

Ecosystem for entrepreneurship

Reading? KJ,

What is your idea? 1-2 slides and up to 3 ideas. Basic template, Pain and Customer and Product or Service you want to provide.

(Mo)

infograph EO

K

 

22/01 Last day to add a class

 

3

24/01

Entrepreneur’s journey

The Dip EO

Reflect on the journey and pick an idea.

(Th) E

4

28/01

Students' ideas thinking markets, pain points and own capabilities

Business Model Generation & Effectual Entrepreneurship

Investigate online the need, competitors, who would be first customers, etc.

(Mo) E

5

31/01

Intro to Business Canvas

Business Model

Establish your draft business model canvas

(Th) K

Generation

 

4-8

Short study tour in Sweden

Visiting Hyperisland, Minc, Media evolution, CSE, SBC-Nokia, Founders House.

/02

and Denmark

6

11/2

Session on good pitch & presentation: theory, how to

The Art of the Start

Update presentation and train 1min & 5 min pitch slides. Practice your 1-min pitch.

(Mo)

K/E

make one, what to include

Business Entrepreneurship Project | International Business | DIS - Danish Institute For Study Abroad | Related Majors: Business, Communications, Management

7 14/02 (Th) The Lean Startup idea The Lean Startup What are your main hypotheses

7 14/02

(Th)

The Lean Startup idea

The Lean Startup

What are your main hypotheses in your project?

E/K

8 18/2

(Mo)

The Lean Startup idea - concrete examples

The Lean Startup

Fine tune hypotheses and start validating them

E/K

9 21/02

(Th)

Webpage / Analytics / etc IT tools for fact-finding

TBD. (EO)

Validate hypotheses with both online and interview initiatives

E/K

10 25/02

(Mo) E

Practice your 1-minute pitch

The Art of the Start

 

11 28/02

(Th) E

Sharing session on validated learnings

The Lean Startup

 

1/03 - Deadline to drop courses & Deadline to declare pass-fail

 
 

4

Long study tour in Dublin

Startupbootcamp and more

 

10/03

12 14/03

 

Sumup Dublin learnings & Effectuation theory

Effectual

 

(Th) K

Entrepreneurship

13 18/03

 

Effectuation: what is your unique skill set?

Effectual

Who could be your funding sources in the next 6 months

(Mo)

Entrepreneurship

K/E

 

14 21/3

(Th)

Entrepreneurship = the art of attracting resources:

The Art of the Start (EO)

Submit biz application for funding to relevant sources

E/K

identifying funding + people

15 04/04

(Th) E

How to get the money going

TBD.

Who would you like to see in your team - how do you reach them?

16 08/04

(Mo) E

How to build a good team

The Art of the Start (EO)

Clean up your pitch prepare to make a 5-min pitch.

17 11/04

(Th)

Pitch session on video - how to improve your pitch

TBD. (Youtube videos of good pitches)

 

E&K

18 11/04

(Th)

Sum up.

   

E&K

Business Entrepreneurship Project | International Business | DIS - Danish Institute For Study Abroad | Related Majors: Business, Communications, Management