Universidade Nova de Lisboa

Universidade Nova de Lisboa

Nova School of Business and Economics

Venture Simulation

Code

2364

Academic unit

null

Department

null

Credits

3,5

Teacher in charge

Antonio Marinho Torres

Teaching language

English

Objectives

This course aims to provide students with an understanding of the challenges faced by an entrepreneur developing and managing a new venture in a high-tech industry. Students manage a start-up from seed to exit in a computer-simulated environment, experiencing the difficulties and thrills of turning a technological development into a successful high-growth business. This hands-on approach is supported by a structured framework (InFACt) based on the four essential elements to turn ideas into successful businesses: innovativeness, feasibility, attractiveness, and clarity. Innovativeness, addresses the question: Is it a good idea?- focusing on customer value proposition, go-to-market strategy, and business model, feasibility addresses the question: Can you make it happen? - focusing on competitive advantage, team capability, and growth path, attractiveness addresses the question: Does it make money focusing on market sizing, financial models, and funding strategy? Finally, Clarity addresses the question: Can you explain it?- focusing on mission statement, elevator pitch, and business plan.

Prerequisites

N/A

Subject matter

1. Introduction

High-Tech Start-Ups

InFACt 1: Innovativeness
2. Case Study 1

Simulation Results 1

InFACt 2: Feasibility
3. Case Study 2

  • Simulation Results 2

  • InFACt 3: Attractiveness

    • 4. Case Study 3

  • Simulation Results 3

  • Business Model (Own Venture)

    • 5. Case Study 4

  • Simulation Results 4

  • InFACt 4: Clarity

    • 6. Business Plan (Own Venture)

  • Simulation Results 5

  • Conclusion

    • Bibliography

    A. Simulation

  • EntrepSim Entrepreneurship Simulation

    • B. Case Studies

  • Clocky: The Runaway Alarm Clock. HBS (9-507-016)

  • Collabrys, Inc. (A) - The Evolution of a Startup. HBS (9-603-064)

  • Dropbox: "It Just Works". HBS (9-811-065)

  • Term Sheet Negotiations for Trendsetter, Inc. HBS (9-801-358)

    • C. Notes and Articles

  • Eisenmann, Thomas (2014). Business Model Analysis for Entrepreneurs. HBS (9-812-096)

  • Eisenmann, Thomas, Eric Ries, and Sarah Dillard (2013). Hypothesis-Driven Entrepreneurship: The Lean Startup. HBS (9-812-095)

  • Kerr, William and Ramana Nanda (2011). Financing New Ventures. HBS (9-811-093)

  • Sahlman, William (1996). Some Thoughts on Business Plans. HBS (9-897-101)

    • D. Tool Kits

  • Entrepreneurship Education Course (Modules 1-8), European Private Equity and Venture Capital Association (EVCA)

  • A Guide to Venture Capital Term Sheets, British Venture Capital Association (BVCA)

    • E. Useful Books

  • Bussgang, Jeffrey. Mastering the VC Game. Portfolio, 2010.

  • Dorf, Richard and Thomas Byers. Technology Ventures: From Idea to Enterprise. McGraw-Hill, 2008.

    • Teaching method

    This course is delivered through a three-pronged approach:
    -(1) venture simulation: students participate in groups of four to six in the EntrepSim Venture Simulation, managing a start-up from seed to exit across five rounds, each involving group discussions and a decision on the way forward;
    -(2) business plan: students work on a brief business plan for a new product, service, or venture of their choice, producing and presenting a short report;
    -(3) lectures: there are six formal lectures in which relevant topics are presented, together with discussions on related case studies, venture simulation results, and group presentations.

    Evaluation method

    A. Individual Assignments

  • Final exam - 40%

  • Class participation - 10%

    • B. Group Assignments

  • Short Business Plan - 25%

  • EntrepSim Venture Simulation - 15%

  • Case-Study Report - 10%

    • Courses