Entry requirements

200 credits including 150 credits within Science/Technology/Pharmaci of which 30 credits on advanced level.

Learning outcomes

On completion of the course, the student should be able to:

• explain and argue for own results in a clear and correct language, both verbally and in writing, to different audiences and with different limitations in time for preparation and presentation,
• demonstrate the ability to work in heterogeneous groups and to capture the diversity of expertise available in those groups.

Further, the course consists of six modules with separate goals as shown below:

1. Business Development and Venture finance

After passing the course, students will be able to:

• describe the various components and phases of the business development process,
• explain which actors in the innovation system that are important for development of technical ideas and their respective tasks,
• describe the different funding sources and their advantages and disadvantages and available financing options in various phases of an entrepreneurial business development,
• briefly analyse a market with special focus on customer situations,
• assess resource needs and constraints of the early business development in different organisational contexts,
• independently formulate a business plan based on a technological development idea, and based on such a plan be able to critically discuss business planning, discuss the pros and cons of planning, and state alternative ways of describing routes to entrepreneurship.

2. Leadership and organisation

After passing the course, students will be able to:

• apply concepts and models of leadership, group processes and organisation, especially in start-up technology-based companies or business projects,
• critically understand leadership in a socio-cultural context and the various theoretical perspectives on its meaning
• describe some of the methods available to practice leadership and create change,
• explain the "control chain" mode of operation, i.e. owners, board and corporate management roles in connection with the company's management.

3. Management control in entrepreneurial companies

After the course, students will be able to:

• select, prepare, interpret and use calculations as a basis for the entrepreneurial company's different situations,
• interpret financial statements and other financial reports in entrepreneurial companies, including income statement, balance sheet, cash flow statement and key figures in these,
• describe how the management of results, behaviour, personal and corporate work in the entrepreneurial company,
• develop various combinations of system of economic governance of entrepreneurial firms.

4. Intellectual property rights and business law

After passing the course, students will be able to:

• describe the parts of the law (in particular intellectual property rights) that are relevant in the context of new ideas (eg research) that should be transformed from concept to commercial operations,
• explain how intellectual property instruments can provide (strategic) barriers and support in the business development process,
• briefly describe and analyse a concrete course of events in both national and international business development process and in a legally relevant way articulate current and potential legal problems,
• briefly describe and analyse the content of the legal rules applicable in the context of business creation and business development,
• demonstrate knowledge and skills in basic negotiation techniques.

5. Market analysis and customer understanding

After passing the course, students will be able to:

• analyse and define the need for information (customer situations and market conditions) in various stages of technology-based business development,
• independently plan and conduct market research projects in different market situations
• explain and apply the basic methods of collecting, analysing, interpreting and representing (orally and in writing) qualitative and quantitative empirical material,
• interpret and evaluate the results of various studies in order to formulate relevant policies and possible consequences of these in the commercialisation process.

6. Value creation value: motivation, opportunity and risk

After passing the course, students will be able to:

• identify and describe value creation in terms of motivation, problem solving, opportunity, risk and uncertainty, both for the individual and society
• critically analyse the conditions and consequences of entrepreneurship and business development in the prevailing social conditions
• identify relevant issues surrounding these assumptions and consequences that are linked to on social issues (eg: ethics, gender, ethnicity, environment, globalisation)
• discuss and articulate the importance of understanding and interpretation frames in entrepreneurial situations,
• compare, combine and evaluate different perspectives on value creation processes, strategies for dealing with risk and uncertainty, and priorities between values ​​and needs, to understand entrepreneurship in practice.

Content

Business Development and Venture finance

Business idea, business plan, business development. Markets and market development. Innovation cycles. Early market coupling and analysis of customer situations. The financial relay race - from seed funding to venture capital and trade sale. Innovation and incubator environments. Requirements management in different development phases. Reward systems in the knowledge business. Strategic alliances. The ownership role in growth. Driving forces and conditions for entrepreneurship and business development and different roles in the value creation process.

Leadership and organisation

The dynamic company characterised by both stability and change. The need, in other words, organised in such a way that new ideas can be developed while the established structures and systems will make it possible to operate in an efficient manner. The module addresses this important balance between stability and change. Learning and leadership styles, team building, personal development and psychology of groups and function. Leadership in knowledge-based companies.

Management control in entrepreneurial companies

Cost-benefit analysis, product costing, investment calculations, accounting and bookkeeping, financing, financial analysis, and financial treatment in support of and around the entrepreneurial corporate decision-making.

Intellectual property rights and business law

Business and law: introduction to the subject and the source doctrine, legal concepts and a commercial approach, relevant areas of law based on the company and stakeholders. Contract law: general contract law, various types of contracts, commercial and international agreements, strategies and the specific issues involved in contracts with public bodies and authorities Company law: the grounds in general corporate law, questions about decisions, responsibility and representatives of companies. Shareholder agreements and company management, aspects of representation in practice. Intellectual property: patents, trademarks and other industrial intellectual property, industrial property, in practice, license and compulsory license. Intellectual property as a strategic tool. Negotiation Skills.

Market analysis and customer understanding

Market analysis´ role and function in the company. Analysis of customer situations. Important questions about the market at different stages of the innovation process. Study Design in different market situations. Studies of market characteristics (size, segmentation, development). Studies of market / customer function (market channels, buying behavior). Studies on the characteristics of the product (customer situations, customer demands for products / services). Survey methodology: the breakdown of the purpose and main challenges of a market survey to survey questions, and measurement variables, market investigator's tool kit, standard analytical techniques and their data requirements, different ways to collect, analyse / interpret, evaluate and present empirical data (questionnaires, interviews, focus groups, usability testing).

Value creation: motivation, opportunity and risk

Value creation takes place in a historical, social and societal context. What are the conditions for entrepreneurship in the prevailing social conditions, and the consequences it can have on the surrounding community? Studying the feasibility of not only solve predefined problems, but also of identifying what they might be to begin with. Strategies for dealing with uncertainty and risk. Strategies to prioritize between different needs and opportunities. Stressing the importance of pre-understanding, role models, interpretations and multiple perspectives on value creation situations. Sustainability and Corporate Social Responsibility. Social entrepreneurship.

Instruction

Lectures, seminars, guest lectures and practical exercises. Assignments and group projects as well as oral presentations. Study visits.

Assessment

The course consists of six modules that are examined separately as below. To pass a module, it is required that all examination parts are approved.

Business Development and Venture finance (5 credits)

Written presentation of assignments and project assignments, and active participation in practical sessions . Oral and written examination.

Leadership and Organisation (5hp)

Oral and written examination, the PM task, and active participation in practical sessions.

Management control in entrepreneurial companies (5hp)

Oral and written examination.

Intellectual property rights and commercial law (5hp)

Oral and written examination, groups examination at seminars, and active participation in practical sessions.

Market research and customer understanding (5hp)

Oral and written examination, written and oral presentations of assignments and project assignments, completed laboratory work, as well as active participation in practical sessions.

Value creation: motivation, opportunity and risk (5 credits)

Written and oral examination. Active participation in lectures, seminars and practical sessions.

If there are special reasons for doing so, an examiner may make an exception from the method of assessment indicated and allow a student to be assessed by another method. An example of special reasons might be a certificate regarding special pedagogical support from the disability coordinator of the university.

Other directives

The course is solely given to students admitted to the School of Entrepreneurship at Uppsala University. The course may not be included in a degree together with any of the following courses: 1TE915 Technology-Based Business Development, 1TE916 Marketing and Market Research, 2FE824 Management, organisation and management control, 2HR106 Patent, Contracts and Negotiation for an Agreement, 1TE062 Innovation Management and 1TE063 Customer-Focused Product Development.