Credits: 5

Schedule: 27.02.2020 - 02.04.2020

Contact information for the course (applies in this implementation): 

My office is in Tuas Talo (Maarintie 8) next to Aalto Ventures Program on 2nd floor. I maintain an Open Door / By Appointment policy - if my door is open, please pop in or schedule appointment.

email:   peter.kelly@aalto.fi

mob:    +358 (0)41 503 4508

Teaching Period (valid 01.08.2018-31.07.2020): 

IV spring (2018-2019, 2019-2020)

Learning Outcomes (valid 01.08.2018-31.07.2020): 

This course is designed to enhance student's understanding of the dynamic challenges faced by entrepreneurial ventures in securing financial backing to support future growth and development. After this course, participants can: a) identify and assess various sources of finance to support entrepreneurial ventures, b) interpret information presented in historical financial statements and forward looking projections, c) evaluate the "value" of a venture, and d) understand the dynamics of negotiation and structuring deals.

Content (valid 01.08.2018-31.07.2020): 

Sources of finance (crowdfunding, bootstrapping, debt, business angel and venture capital investment), Pricing equity stakes (valuation), Negotiating shareholders agreements, Managing venture development, and Realising value (trade sales, initial public offerings).

Details on the course content (applies in this implementation): By the end of the courses, students should know:

1) How to interpret financial statements
2) The sources of finance available
3) The mechanics of how financing decisions are made
4) How to assess what source(s) of finance are appropriate at various stages of venture development
5) What issues need to be covered in structuring a deal

Assessment Methods and Criteria (valid 01.08.2018-31.07.2020): 

Individual case write-ups, take home exam, group assignment.

Elaboration of the evaluation criteria and methods, and acquainting students with the evaluation (applies in this implementation): 

Individual assignments (25%)

Small write ups based on material covered in face-to-face sessions

Individual take home exam (25%)

Determining a valuation and financing structure for purchasing an established business

Group project (50%)

Working in groups of no more than 4 students and choosing from 4 options (financing plan, valuation, technical note, "unicorn") described in detail in the course syllabus and discussed during our first session together.


Details on calculating the workload (applies in this implementation): 

5 ECTS = 135 hours

Class sessions (6)     18 hours

Class preparation      40 hours (including individual assignments)

Take home exam       12 hours

Group project             65 hours       

Study Material (valid 01.08.2018-31.07.2020): 

Cases and notes delivered in class.

Details on the course materials (applies in this implementation): 

There is no formal textbook, however, the course syllabus is a comprehensive resource of books, web sites, journals and leading authorities

Substitutes for Courses (valid 01.08.2018-31.07.2020): 

Replaces to course TU-91.2009 and TU-E4030

Prerequisites (valid 01.08.2018-31.07.2020): 

No prerequisites

Registration for Courses (valid 01.08.2018-31.07.2020): 

The course is intended mainly for students majoring Industrial Engineering and Management, those participating in minors of Creativity & Venturing, and Aalto Ventures Program Minor/Startup minor.

Details on the schedule (applies in this implementation): 

Week 9   Interpreting Financials

Week 10 Crowdfunding / FFFs

Week 11 Public Sector Support / Business Angels

Week 12 Financing with internal cash flow / Venture Capital method

Week 13: Financing growth strategy / Shareholders Agreements

Week 14: Bootstrapping and Leveraging Networks

Description

Registration and further information