INNO 202 Leadership for Entrepreneurs (4 units)
Entrepreneurs need to build relationships and find people to support their new enterprises. Whether that involves persuading early- or later-stage investors, deciding whether to hire contractors or employees, or the many other challenges of launching a start-up, entrepreneurs need to work with other people to move from ideas to successful organizations. Yet, despite this importance, surprisingly few people are accomplished at working with and persuading others, and entrepreneurial failure due to an inability to build the support of others and manage successfully is all too common. This course is intended to assist experienced and inexperienced entrepreneurs with some of the challenges of managing others, and to help them build their understanding and skills so they can become more successful managers of people. The objective is to improve their abilities to diagnose, analyze and take effective action in their organizational work. In addition to readings, discussions, and cases, students will work in teams on a quarter-long project analyzing an actual start-up organization.
INNO 203 Financial Accounting for Entrepreneurs (2 units)
This is an introductory course in Financial Accounting. It provides the building blocks of financial accounting that are essential to entrepreneurs. It covers financial ratios, and statements, incl. forecasting financial statements, basic transaction analysis, and Generally Accepted Accounting Principles.
INNO 205 Marketing for Entrepreneurs (4 units)
This course provides the fundamentals or building blocks of marketing knowledge, primarily for entrepreneurs involved in start-ups, and secondarily for intrapreneurs involved in growing and established companies, which need entrepreneurial skills to fast track products and services to market. Our focus is on how to create and deliver value, in innovative ways, and communicate this to multiple stakeholders from customers to investors. For example, we will cover topics such as how to think creatively about identifying new value propositions for customers and thereby redefine existing markets or develop entirely new markets; how to assess market potential and demand for products/services that are novel; how to determine the minimal viable product or service design including pricing necessary for market entry; how to evaluate alternative ways in which to communicate the marketing message to customers using conventional and social media; and how to assess the optimal way in which to distribute and deliver products/services using both direct and indirect channels.
We will employ a combination of cases and a project. For the project, students will be offered two options. The first option is for students who have an idea for a new product or service. They will apply the principles discussed in the class to write a plan for the design and marketing of their new product or service. The second option is for students to select two existing products or services, at least one of which has been recently introduced, compare them on their design, pricing, promotion, distribution, sales, and profits, and make recommendations for change, all from a customer point of view. Students can combine the two options by comparing their new product or service idea with one which exists in the market.
INNO 209 Managerial Finance for Entrepreneurs (2 units)
This is an introductory course in Managerial Finance. It provides the building blocks of finance knowledge that are essential to entrepreneurs. It covers investment and financing decisions, including the time value of money, cash flow creation, cost of capital and capital budgeting.
INNO 211 New Venture Competition (0 units)
The New Venture Competition (NVC) at the Beall Center for Innovation and Entrepreneurship, in partnership with UCI Applied Innovation, is one of the nation’s premier new venture competitions, offering all UC Irvine students, staff and researchers the opportunity to form a team, create a startup and potentially fund their idea all within six months. Participants start by forming teams, submit a concept paper describing and pitching an idea of their choosing, while attending the various workshops covering a broad area of startup development skills led by experts and NVC judges. Teams compete for more than $100,000 in cash and in-kind awards.
INNO 214 Entrepreneurship (4 units)
This course is designed to expose you to an overview of the entire entrepreneurial process: identifying new venture opportunities, developing a business model, preparing a business plan, assembling a team, raising the necessary financing, and launching a new business. Our primary learning vehicle will be the exercise of working with a team of classmates to create a business plan for a new company. For background, we will use a comprehensive text supplemented by key readings on different facets of entrepreneurship. For inspiration, you will hear presentations from experienced and successful professionals in the field of entrepreneurship. The heart of the course will be working in project teams to prepare a business plan for a new company of your choosing. You will present portions of it to your classmates in a workshop environment, culminating in the presentation of the completed plan in lieu of a final exam. To ground your new company in reality, you will be required to seek out and talk to at least ten customers, distributors or other relevant market representatives to validate that your concept has attractive potential. All of these efforts are designed to help you craft a more credible new business plan, one that can earn funding support and succeed in the marketplace.
INNO 215 Lean Startup (4 units)
This is a practical class – essentially a lab, not a theory or “book” class. The goal, within the constraints of a classroom and a limited amount of time, is to create an entrepreneurial experience for you with all of the pressures and demands of the real world in an early stage startup. The class is designed to give you the experience of how to work as a team and turn an idea into a company. You will be getting your hands dirty talking to customers, partners, and competitors, as you encounter the chaos and uncertainty of how a startup actually works. You’ll practice evidence‐based entrepreneurship as you learn how to use a business model to brainstorm each part of a company and customer development to get out of the classroom to see whether anyone other than you would want/use your product. Finally, based on the customer and market feedback you gathered, you will iterate on a Minimum Viable Product (MVP) to rapidly evolve something customers would actually buy. Each block will be a new adventure outside the classroom as you test each part of your business model and then share the hard‐earned knowledge with the rest of the class.
INNO 218 Venture Capital for Entrepreneurs (2 units)
Venture Capital and Private Equity constitute the so-called “alternative” asset class as opposed to conventional investments in stocks, bonds and commodities. Many start-up and entrepreneurial firms require substantial capital. Bank loans and other conventional debt financings are unlikely due to high risk and uncertain prospects. Venture Capital and Private Equity organizations finance these high-risk but potentially high reward companies. This course is structured as a 2-unit (5-week) course. Topics include: Introduction to Venture Capital (VC), Fund Raising, Management Fees & Carried Interest, How VCs and Angels finance start-ups, Pre-money and Post-money Valuation, Series A, B and C investments, how VCs evaluate deals, Valuation of Start-up firms, % ownership and Target IRR, VC financings & Types of Preferred Securities issued and Deal Structure, Team Presentations.
INNO 292 Business Law for Entrepreneurs (2 units)
Business Law for Entrepreneurs is an introductory course focused on educating individuals starting, or investing in, a new business in the United States. Its objective is to provide an overview to common legal issues most likely to be faced by entrepreneurs, such as Business Formation and Structure, Governance and Employment Contracts, Intellectual Property and Taxation. Lectures will revolve around readings and case studies, but will emphasize active discussions concerning hypothetical situations for which students will need to analyze the law to determine a likely outcome. The course will require students to develop the ability to identify both sides of an issue, to analyze the legal risk associated with business decisions, and to communicate information to third parties.
INNO 294 Edge: Innovation in a Digital Age (4 units)
External forces – globalization, technology, demographic shifts, macroeconomic trends, changing consumer preferences, and sustainability – have fast become catalysts for business innovation and reinvention. This course will explore the strategic and operational issues that business leaders face in adapting to the new business environment, what we call innovating, managing and competing at the Edge. The overarching objective for this course is to enable students to better identify, understand and act upon these forces for change, which have the potential to impact and transform not just businesses, but entire industries. From typically more evolutionary trends in globalization, geopolitics, demographics and economic conditions to more disruptive shifts in the technological and competitive landscape, our attention will be on the ‘long view.’ The specific objectives for the course are to: (1) Identify strategic frameworks and tools to help identify and address the risks and opportunities associated with transformational business and technology catalysts; (ii) Learn how to apply these frameworks to evaluate the business implications of these catalysts of change from the perspective of both existing companies (incumbents and new entrants (insurgents), and (iii) Develop experience in putting these ideas into action.