Venture Creation

Creating a knowledge-based venture demands skills of many kinds. This course aims at giving an overview of the process from taking a high tech invention to the market as well as providing basic tools.

The aim of the course is to provide students with an understanding of how to develop a business plan as a means to communicate the unique attributes of a venture to potential investors and other stakeholders. This encompasses how to present the business opportunity, management team, competition, sales and marketing, technology/product, manufacturing/service/logistics, and financing. The internal designing and external negotiations the firm and negotiating with potential investors are also covered.

Knowledge and comprehension

• Knowledge of the need for a business plan
• Knowledge of how to determine the optimal amount of financing needed and its timing.
• Comprehend the different elements of a business plan and their importance.
• Comprehension of the investor¿s perspective and the drivers of valuation of the venture.
•  Knowledge of how to negotiate with internal and external actors to achieve a successful result.

Skills

 The course should prepare the student to

•  Identify and present convincingly the business opportunity
• Write the business plan
• How to negotiate with internal and external parties successfully

 Competence

The student should be able to present a business opportunity to investors and negotiate internally and externally to achieve a successful result. The student should be able to adapt the presentation and the structuring to best match the attributes of the venture being considered.

If you pass the examination in this course, you will get an reduction in credits (as stated below), if you previously have passed the following courses:

• BED-2015 Commercialisation 0 stp
• BED-2009 Introduction to entrepreneurship 5 stp

Lectures and seminars

Case studies

The course is built around a simulated reality and it is to a large extent based on role play pedagogy, under which students in interaction with real innovation projects start a venture. The role play is primarily built around internally negotiating the structure of the firm, externally negotiating with investors, and by designing the communicative interface of the firm e.g. the business plan.

Case studies provide students with an additional active learning experience by making complex real-world problems the focus. It challenges students to learn skills that will be appropriate to deal with the practical problems that they may face as entrepreneurs.

Language of instruction and examination

Portfolio evaluation and oral examination in Tromsø.

There will not be arranged a re-sit exam for this course.