Course 2017-2018 a.y.

Classes: 31 (II sem.)

Instructors:
Class 31: RENZO CENCIARINI

Focus of the course is the launch of new entrepreneurial ventures, and their ability to create value as the company grows. This often requires financial support and company valuation. During the course we examine the creation and development of new industrial projects, both from a strategic and from a managerial point of view. We then explore the criteria that the company should follow in its search for the optimal financial support and in order to effectively manage relationships with the specialised intermediaries. The course focuses on generating value from the invested capital, i.e. the left-hand side of the Balance Sheet, as opposed to courses that analyse Venture Capital firms, which focus instead on the right-hand side of the Balance Sheet.
The underlying theme of the entire course is the role of the entrepreneur, from the start-up of a new venture, to its development and sale. The course includes the use of case studies and real-life experiences of guest speakers, mostly entrepreneurs.

• Starting a new venture and creating the conditions for a successful growth pattern.
• Putting an entrepreneurial idea into practice and preparing a business plan.
• Valuing the internal consistency and the feasibility of a business plan.
• Structuring and managing an innovative venture. The serial entrepreneur.
• The entrepreneur's choice to be supported by external investors.
• Value creation and value drivers used by Venture Capital investors.
• Internal and external growth strategies. Corporate diversification and its limits.
• Scalability and defensibility in the early stages of a company.
• The choice of financial investors for the development of the company. Managing the relationship with the investors. Exit. Consequences from the standpoint of the investee company.

For attending students

• The evaluation of Attending Students consists in a written exam at the end of the course, for the first exam session; oral exam for the following sessions.
• Attending Students are required to participate in the Start-up Contest of the course, which consists in the guided development of a new entrepreneurial initiative, including the development of a business plan.

For non attending students

• Oral exam.