Entrepreneurship: New Venture Creation
This track consists of four compulsory courses equivalent to 30 ECTS credits along with the entrepreneurial project and the degree project, together equivalent to 30 ECTS credits.
The Entrepreneurial Process and Opportunity Recognition (7.5 ECTS)
This course provides students with basic tools and methods to discover, sample and evaluate new business opportunities. The course covers a range of creative problem-solving methods including idea-generation methods and the evaluation and implementation of creative ideas. The objective is not to “teach” creativity but to assist students to develop whatever creative capacity they bring to the course in order to develop their abilities to discover and generate lucrative opportunities. The course consists of four parts; introduction to the entrepreneurial process, opportunity recognition, entrepreneurial decision making and teamwork in the new venture creation process.
Course code: ENTN01
Entrepreneurial Marketing (7.5 ECTS)
The aim of this course is twofold. It introduces students to a comprehensive approach to analyze industry/market conditions and tools on how to gather information about their potential markets. The skills to be developed include analyzing principal dimensions of competition, investigating the position and performance of current players, appreciation of the feasibility and desirability of a potential idea, product or service, and identification of key factors contributing to the efficiency of industry operations.
In addition, it introduces the students to how to communicate their business idea, product or service to potential investors, customers and other stakeholders. The course consists of three parts; industry and competitor analysis, customer analysis and market research, and market communication in new ventures.
Course code: ENTN06
Entrepreneurial Finance (7.5 ECTS)
This course provides students with theoretical and practical knowledge about resource management and finance of new ventures. The students will get to know and use basic frameworks and techniques for analyzing and utilizing critical resources and capabilities in emerging ventures. There will be emphasis on issues like the control and influence over resources in the pursuit of new venture opportunities, the assessment of financial requirements in new ventures, bootstrapping strategies, venture capital markets, and decisions about company foundation, ownership, outside assistance, and other legal issues (corporate governance).
In addition, the course will enhance the students’ knowledge about the financial markets for new ventures, particularly the way different investors, such as banks, venture capitalists and business angels, make their investments in new ventures, and how they manage their portfolio after the investments are made.
Course code: ENTN05
Entrepreneurial Leadership (7.5 ECTS)
The course provides students with knowledge and skills to identify, understand and tackle key challenges associated with leading a startup with growth ambitions. The course focuses on “people-problems” faced and created by different groups of people, such as founders, co-founders, hires, investors and successors. Critical issues include identifying and recruiting co-founders, establishing roles, relationships and rewards within the startup team, hiring new talent, onboarding investors, and managing succession.
Course code: ENTN14
Entrepreneurial Project (15 ECTS)
The students start the project work already at the outset of the programme. Most of the project workload of the entrepreneurial projects take place during the second study period. The project is based on the development of a potential business opportunity that stems from research at Lund University, firms in the Öresund region, or students’ own projects. The basic aim of the entrepreneurial project is to commercialize research that is conducted at universities and companies, at the same time as entrepreneurs are developed. The entrepreneurial project is an important part of the programme as it provides students the opportunity to learn how to successfully commercialise research-based new venture ideas into viable businesses. Successful completion of the entrepreneurial project is required to obtain the certificate at the end of the Master's course.
It should be explicitly mentioned that successful completion of the entrepreneurial project does not necessarily mean that the project must end up as a successfully launched venture, although this is a desired goal. A project may as well be decided to be abandoned at the end of the studies after a careful analysis of the new venture idea. What is important is that the entrepreneurial project has served as a learning process and that the students involved have been equipped with valuable experiences that can be utilized in future entrepreneurial ventures.
The process of carrying out students’ entrepreneurial projects will be characterized by continuous supervision, “milestones” with written and oral reports, and contact with external mentors. Each project group will have access to a tutor (a person from the staff management) and a coach (an experienced professional). These people will follow the project from beginning to end in order to assess, modify and add new aspects to the project. Depending on the project’s character and technology, a specialist can also be connected to the project.
The course is examined on three items: the organization and execution of a functional trade show, documentation of weekly work, and a business plan towards external actors. The trade show is an event that the project groups, with some support of the entrepreneurship topic, will organize. Main tasks are to bring in visitors to the show, and to persuasively convince visitors and other exhibitors to contribute in creative ways to their businesses (supply resources, equity, buy goods/services). Each project group will also have the possibility to present their ideas in an auditorium.
Learning journals: Entrepreneurial processes are dynamic, functional and creative. To track such processes over time, it is good to learn to document one's creative process on a regular basis. Students on the programme need to document their process in terms of weekly learning journals. By doing this, they can gain a deeper, more reflective knowledge about the entrepreneurial process.
Course code: ENTN08
Degree Project (15 ECTS)
In addition to the entrepreneurial project, the students are also following a course specifically aimed at developing their analytical and reflective skills by making a scientific investigation about a topic within the area of entrepreneurship and new venture creation. There is a large accumulated body of actionable knowledge about how to practise various forms of entrepreneurship. However, this knowledge is primarily accessible to people that can interpret, “absorb” and implement these research findings into their own venturing efforts. During the course, the students are provided with opportunities to develop their ability to critically examine, evaluate and draw conclusions from entrepreneurship research.
The main activity in the course is the scientific investigation, which is conducted during the spring term. This investigation will be reported in the form of a thesis and its content presented at a final seminar at the end of the course. A series of lectures, seminars and direct supervisions are organized to support the students in the process. There will be a special emphasis on various research methodologies and their implications for collecting and analysing empirical data. Although the course focuses specifically on research methodologies applied in the entrepreneurship discipline, the content constitutes the basis for methods in any area of social research. In all, the course encourages hands-on experience and collaborative learning, and involves interactions and discussions with research-active faculty members in the exploration of various approaches and methodologies.
Course code: ENTN19
Corporate Entrepreneurship and Innovation
This track consists of four compulsory courses equivalent to 30 ECTS credits along with an internship in an existing organisation together with a degree project equivalent to 30 ECTS credits.
Corporate Entrepreneurship (7.5 ECTS)
On the basis of this course, the student develops an understanding of and familiarity with entrepreneurial activities in established businesses, so-called “corporate entrepreneurship”. The course consists of the following parts: (i) the entrepreneurial process in the corporate context with particular focus on the identification and evaluation of business opportunities, (ii) business model renewal and innovation, (iii) different forms of corporate entrepreneurship, and (iv) factors supporting and hindering corporate entrepreneurship.
Course code: ENTN31
Organizing for Innovation and Entrepreneurship (7,5 ECTS)
This course is focused on understanding how to build, maintain, and develop organizations suitable for innovation and entrepreneurship in a corporate context, i.e., within and alongside established businesses with other logics. Within this context, it is also focused on understanding the role and actions of intrapreneurs and on performance measurement in intrapreneurial settings.
Course code: ENTN33
Innovation Management and Open Innovation (7.5 ECTS)
This course introduces students to the concepts of innovation and innovation management in existing businesses and networks. The aim of the course is to give an understanding of the creation of new ideas and the management of innovations, particularly New Product Development processes, in existing organisations. The course consists of four parts: (i) the concept and process of innovation, (ii) innovation strategy and technology management, including ‘Open Innovation’ management models, (iii) organizational management and product development team management, and (iv) innovation strategies for a global context.
Course code: ENTN32
Project and Research Methods for Entrepreneurship (7.5 ECTS)
In this course, students develop knowledge in project and research methods related to entrepreneurship, serving as the foundation for the degree project (ENTN39). The course focuses on the different steps and decisions involved in undertaking a project and degree project (thesis) with a particular focus on methods for data collection and analysis.
Course code: ENTN35
Internship and Degree Project (30 ECTS)
During the Internship, the student works in the host organization with a project focused on business development and innovation. The basic aim of the Internship and Degree Project course is that the student will learn to apply and use knowledge and skills gained on business activities. Based on the business development project, the student writes his/her degree thesis.
Course code: ENTN39