This is UCL’s principal Entrepreneurship course for students who are actively seeking to develop and test a new business idea. It is most relevant to those who are considering forming their own business but is also valuable for “intrapreneurs” promoting new initiatives within existing organisations.
Through the study of existing high-potential ventures and the development of a business feasibility plan the course provides deep insights regarding critical success factors (desirability feasibility and viability) along with strategies to attract and retain the necessary resources (personal, technical and finance) to launch a new venture.
In doing so the course seeks to develop the entrepreneurial skills, behaviours and attitudes that are essential for individuals seeking to create and capture value through innovative business activities.
First hand experience of the selection and deployment of tools, techniques and theories for the identification, validation and structuring of a new business venture.
Invention and innovation – finding & qualifying new opportunities. Business Model Generation.
Confirming customer needs & testing market demand. Customer development.
Lean Start-ups: what is your minimum viable product? The value of prototyping.
Delivery channels and customer relationships. Business Plan & Preparing a Pitch.
Financial Forecasting, Costing and Pricing. Management accounts. Cash-flow and Profit & loss
Developing sustainable competitive advantage. Intellectual Property Rights.
Corporate form & structure. Founder dilemmas - team, equity, remuneration etc. Developing your brand.
Defining and testing critical business model uncertainties. Measuring progress - common start-up metrics.
Sources of Funding. Presenting to VCs.
Class presentations. Conclusions and next-steps.
60% for group coursework portfolio; 40% for individual coursework
Current students should refer to Moodle for specific details of the current year’s assessment.
Blank, S. & Dorf, B. 2012. The Startup owner’s manual: The step-by-step guide for building a great company. K&S Ranch inc.
Mullins, J. 2006. The New Business Road Test. FT Prentice Hall
Osterwalder, A. et.al. 2014. Value Proposition Design. Wiley.
Ries, E. 2011. The Lean Startup: How Constant Innovation Creates Radically Successful Businesses. Portfolio Penguin