FTMBA 2020_I Entrepreneurial Finance

The course is divided into four modules:

Module 1: Entrepreneurial finance: The first six months

This module provides an overview of the key financial decisions and considerations entrepreneurs must make in creating and launching a viable new venture (e.g., structuring ownership, founder compensation, employee contracts and options). In addition, we discuss various bootstrapping strategies that can help entrepreneurs reduce their dependence on external credit and capital.

Module 2: Sourcing non-institutional capital

In this module, we focus on raising capital through crowdfunding, accelerators and business angels. We examine and contrast their value proposals, business models and key operational processes and outline strategies for successful fundraising through these channels.

Module 3: Venture capital

This module is about how VCs work with entrepreneurs to create successful ventures. We first explore the venture capital investment selection. Specific topics will include deal sourcing, due diligence, deal structuring, financing instruments, risk minimization, valuation, term sheets and negotiation. Subsequently, we analyze the post-investment management processes.

Module 4: Exit strategies

The purpose of this module is to introduce the exit options for entrepreneurs and to develop a strategic and operational roadmap for a successful execution of an exit strategy.

The course will be delivered in a highly interactive environment using a combination of presentations, class discussions and simulations. In addition, interactions with industry experts will enable participants to gain real world experience.

There is no textbook.

Course slides will be uploaded on Moodle one week before the first session.

We will use our proprietary online simulation software to run valuation and waterfall exercises. Practical information about simulations will be provided separately on Moodle. Each group should be in possession of at least one laptop to perform the simulations.