Data-Driven Business Innovation and Entrepreneurship

Course manual 2018/2019

Course content

Entrepreneurship is fundamental to generate value added from innovation and it is an increasingly important subject for students and professionals, also in the context of data science. The growing complexity of the data science sector and its accelerating dynamics urge professionals to think and act in an entrepreneurial way. Due to the informatization of society, data about nearly everything emerge every day. By using data, searching for inferences and patterns, may entrepreneurs help to better support their new ventures.

This course is especially useful for ambitious students who want to demonstrate their ability to analyze data in order to pursue a career as an entrepreneur or who want to work at an entrepreneurial firm. During the last hundred years entrepreneurial innovation is the main generator of jobs and welfare in Modern Society, the “true source” of national competitive advantage. Many Universities, Research Institutes and Research Departments of large Enterprises have adopted policies to stimulate the relationship between entrepreneurship and innovation, in the hope of facilitating economic growth.

During the course students will learn basic knowledge about how to successfully launch a new venture and its underlying business idea. Working in teams, students will be requested to collect and analyze data in order to identify and validate an innovative and scalable business idea - representing a starting point for a potential start-up - to present in a “business pitch” and a “short final report” at the end of the course. Students must support their proposal by data analysis.

Study materials

Literature

• The recommended book: "Entrepreneurship successfully launching new ventures - global edition - 5th edition” (R. Barringer and R.D. Ireland, 2016).

  The digital version is available at the following link: https://www.studystore.nl/en/p/9781292095387/

  • entrepreneurship-global-edition
  • The printed version can be founded (students are invited to check the fastest delivery) in the following two websites:-        https://www.bol.com/nl/p/entrepreneurship-global-edition/9200000039684261/      https://www.studystore.nl/en/p/9781292095387/
  • entrepreneurship-global-edition  

  2) Academic papers and empirical cases are uploaded on canvas and indicated in the section “Lectures schedule and assignments for each tutorial”.

   

Syllabus

• 5. LECTURES SCHEDULE AND ASSIGNMENTS FOR EACH TUTORIAL

   

  1st Lecture: Introduction Course (Roel van der Voort) – 5th February

   

  Topics:

  • The impact of the Entrepreneurial Innovation Revolution.
  • Recognizing opportunities and generating ideas.
  • The technique entrepreneurs use to generate ideas.
  • The concept of “minimum viable product”.

  Literature (mandatory):

  • Chapter 1 of the book: “Introduction to entrepreneurship”.
  • Chapter 2 from the book - “Recognizing opportunities and generating ideas”.
  • Teixeira, Thales S., and Morgan Brown. "Airbnb, Etsy, Uber: Acquiring the First Thousand Customers." Harvard Business School Case 516-094, May 2016.

  Literature (optional):

  • Martin A. Carree and A. Roy Thurik, The Impact of Entrepreneurship on Economic Growth (2010).
  • Introducing: www.stratupandrunning.nl platform.

  Teams can find a business mentor on the platform in order to develop their business idea and “minimum viable product”. https://www.startupandrunning.nl/

  In the end of the course, teams that are able to create a website connected with their business idea can launch the website on the platform.

   

  1st Tutorial: Blockchain workshop by PwC – 11th February - Joint Session in one class

   

  -        Short introduction on blockchain

  -        Interactive activity: students do blockchain transaction

  -        Case: risks in implanting blockchain in Companies.

  Guest Diederik van Oppem. PwC

   

  2nd Lecture: Conducting a feasibility analysis (Roel van der Voort) – 12th February

   

  Topics: 

  • Explaining the definition and importance of a feasibility analysis.
  • Discussing critical issues in conducting a feasibility analysis.
  • Describing a feasibility analysis template.

  Literature (mandatory): 

  • Chapter 3 of the book: “Feasibility analysis”.
  • Harari, G. M., Lane, N. D., Wang, R., Crosier, B. S., Campbell, A. T., & Gosling, S. D. (2016). Using smartphones to collect behavioral data in psychological science: opportunities, practical considerations, and challenges. Perspectives on Psychological Science, 11(6), 838-854.

  Guest speaker: Peter Boeiijnk: Ceo and Founder of LR Systems: Large Robotic Solutions

   

   

  2nd Tutorial: Student Teams present their opportunity for a new business – 18th February- joint session in one class

   

  Guests:

  • Liza Kolesnichenko, ACE/Amsterdam Startup Village,will introduce the Incubator program.
  • Yoram Iedema, last year student, CEO and Founder of Dyme, will present his experiences of starting a business and being a participant of Incubator program

   

  Each Team needs to present a “new business opportunity” and will get feedback. Every Total time: Each team has about 10 minutes.

   

   

  3rd Lecture: Entrepreneurial Ecosystems and Knowledge Transfer (Roel van der Voort) – 19th February

   

  Topics:

  • Entrepreneurial Ecosystems as innovation accelerators
  • Structure of Amsterdam Entrepreneurial Eco System
  • Networking and Incubators
  • Performance Measurement
  • Knowledge Transfer and Entrepreneurial Ecosystems

  Literature (mandatory):

  • Stam E. (2014). The Dutch entrepreneurial ecosystem.
  • Daniel Isenberg (2011), The Entrepreneurship Ecosystem Strategy as a New Paradigm for Economic Policy: Principles for Cultivating Entrepreneurship.
  • Joris Ebbers (2013), Networking Behavior and Contracting Relationships Among Entrepreneurs in Business Incubators. Entrepreneurship, Theory&Practice.

  Recommended:

  • Bell-Masterson, J., & Stangler, D. (2015). Measuring an entrepreneurial ecosystem.
  • C. Taich et al., (2016) Measuring Entrepreneurial Ecosystems, Urban publications

  Guest speaker: Prof. De Bakker (VU University)

   

   

  3rd Tutorial:  Feasibility Analysis – 25th February

   

  Each team has to present a feasibility analysis, such as:

  • A synthetic table (max 5 slides) with the following key elements (see Chapter 3, Appendix 3.1 and 3.2 of the book): 1) Strength of the business idea; 2) Industry-related issues; 3) Target market; 4) Founders related issues; 5) financial issues; 6) Overall potential; 7) A list of the internet resources they believe useful to develop their business idea.

   

  During the tutorial, teams have the chance to present how they are developing their business idea to instructors and discuss possible improvements. A team needs to explain how it is collecting the data and analyzing them in order to develop their new business idea. The team can also communicate if they have a business mentor helping them.

  Total time: 20 minutes per team (presentation and discussion).

   

   

  4th Lecture: Designing an effective business model (Angelo Tomaselli) – 26th February.

   

  Topics: 

  • Describing a business model and its importance.
  • Distinguishing different types of business models.
  • Explaining the components of a business model.
  • Comparing the Barringer-Ireland template and the Canvas template.

  Literature (mandatory): 

  • Chapter 4 of the book: “Developing an effective business model”.
  • Sorescu, A. (2017). Data‐driven business model innovation. Journal of Product Innovation Management, 34(5), 691-696.
  • Hartmann, P. M., Zaki, M., Feldmann, N., & Neely, A. (2016). Capturing value from big data–a taxonomy of data-driven business models used by start-up firms. International Journal of Operations & Production Management, 36(10), 1382-1406.

  Guest speaker: to define

   

  4th Tutorial: Business Model Workshop – 4th March - Joint Session in one class

   

  Students will be working in teams. Each team needs to bring a laptop in class.

  The instructor will guide each team to design the draft of a “Canvas business model template” with respect to the final idea the team wants to develop.

  The team needs to use https://realtimeboard.com/examples/business-model-canvas/

  Please, register your team on “realtimeboard” before the class.

  At the end of the Seminar, the teams will briefly present their templates and discuss the main insights. 

  Goal per team: 50 minutes to design the business model & 10 minutes to present it in class.

   

   

   

  5th Lecture: The main sources of financing (Angelo Tomaselli) – 5th March

   

  Topics: 

  • The main sources of financing that are available to entrepreneurs.
  • Debt and equity and financing.
  • The phenomenon of bootstrapping
  • Focus on crowdfunding (which data influence investment decisions).

  Literature (mandatory): 

  • Chapter 10 from the book - “Getting Financing or Funding”. 
  • Bi, S., Liu, Z., & Usman, K. (2017). The influence of online information on investing decisions of reward-based crowdfunding. Journal of Business Research, 71, 10-18.

  Literature (optional):

  • Mollick, E. "The dynamics of crowdfunding: An exploratory study." Journal of Business Venturing, 29, no. 1 (2014): 1-16.
  • Guest speaker to be announced.

   

  5th Tutorial: “Crowdfunding workshop” (blended learning: online and offline activities) – 11th March

   

  Teams need to create a possible “crowdfunding campaign” for the new company they intend to develop, using “Kickstarter” https://www.kickstarter.com/

  In their campaign teams needs to strategically decide about 1) the project basics (project image, funding goal, duration, etc.). 2) the project rewards structure (pledges, types of rewards); 3) the project story (image and video. Students can download images and short video on www.shutterstock.com

  Goal: 50 minutes to design the business model & 10 minutes to present it in class.

   

   

  6th Lecture: The business plan and the new venture’s financial strength – 12th March

   

  Topics: 

  • Explain the purpose of a business plan.
  • Explain how to effectively present a business plan and basic financial indicators (ratio analysis and forecasts).

  Literature (mandatory): 

  • Chapter 6 from the book - “Writing a Business Plan”.
  • Part of chapter 8 - “Assessing a new venture financial strength and viability”, p.281-299.
  • Guest speakers: Mario Bertorelli, Business Consultant

   

  6th Tutorial: Final coaching – 18th March

   

  Teams can present their final business idea in form of a pitch to the instructors in order to have final feedback.

  Goal: 20 minutes per team (presentation and discussion).

   

   

  Final business idea presentation : 19th March:

   

   

  The teams will present their business ideas during a pitch presentation.

  Industry and faculty experts will be invited.

   

  Final Exam: 29th March

  There will be a final exam based on multiple choices, focusing on lectures topics. Further instructions will be given during the course.

Practical training material

Objectives

The successful accomplishment of the course will lead the students to:

§  Better master and use the academic literature on entrepreneurship. In particular, critically making use of theoretical foundations for practice-based ideas.

§  Acquire the ability to search for and recognize an innovative and scalable business idea (i.e., think ‘out of the box’).

§  Translate a business idea into a set of criteria for a “minimum viable product”, using data analysis.

§  Approach entrepreneurial challenges with confidence.

§  Develop the ability to cooperate and constructively communicate a business idea by a simulated business presentation and the writing of a business plan.

§  Develop a “minimum viable product” using insights from Data Science.

Teaching methods

• Lecture
• Seminar
• Presentation/symposium
• Self-study
• Supervision/feedback meeting

Learning activities

Attendance

In OER-B of the programme no requirements regarding attendance are mentioned.

Additional requirements for this course:

Attendance in lectures and Tutorials is manadtory

Assessment

Multiple Choice Exam of 40 Questions; cut-off score 22

Literature: Book and Articles discussed in the tutorials

Fraud and plagiarism

The 'Regulations governing fraud and plagiarism for UvA students' applies to this course. This will be monitored carefully. Upon suspicion of fraud or plagiarism the Examinations Board of the programme will be informed. For the 'Regulations governing fraud and plagiarism for UvA students' see: www.student.uva.nl

Course structure

Timetable

The schedule for this course is published on DataNose.

Contact information

Coordinator

• Roel van der Voort

Staff

• dr. Angelo Tomaselli