The module Startups furnishes necessary knowledge, skills as well as some best practices being used in planning, founding and growing innovative startups. Students are exposed to many of the challenges and problems faced by entrepreneurs who start new ventures. However, supported by case studies students will learn that evidence-based methods will be a necessary complement besides relying on their creative urges, their best efforts or their fortunes. Hence, in addition to the well-established tools, the so called lean startup methods will be learned, which offer good guidance, particularly when times get hard.
Entrepreneurs make an important contribution to the wealth in our society when they introduce innovations. However, what will make the real differences at the planning, founding and growing of new ventures?
The course will kick off with an introduction to the nature of innovations and of startups and to their relevance to market places respectively. The requirements and success factors of new ventures are examined. Important aspects of the entrepreneurial process before, during and after the formation of an enterprise are reviewed. The business plan as an established tool will be applied to coordinate the individual plans relating to product, marketing, organization, finance and realization. That will be complemented by the rather modern lean startup methods (MVP, Validated Learning, Pivoting, etc.).
The course will make use of video clips covering the contributions of established investors and founders of famous startups. The videos will also be discussed and applied during the practicals.
The course is particularly suitable for those students, who take a great interest in the challenges faced by innovative enterprises or consider launching their own inbovative venture.
- Ries (2011): “The Lean Startup”, Portfolio Penguin, London
The module is offered in the winter semester.
The module is credited in bachelor IISM in A6 and bachelor WI in A5.