Entrepreneurship (ENT)

ENT 422. Generating and Screening Entrepreneurial Ideas. 3 credits

As the foundation course in Entrepreneurship, this course covers: idea generation, opportunities screening, entrepreneurial characteristics. This course outlines a critical evaluation process used by successful entrepreneurs to prioritize new venture ideas. The focus of this course is on the technical and market evaluation of very early-stage ideas when information is greatly lacking, and the time and money to research such answers is also limited. Students, in group format, generate and filter their own ideas and evaluate them based upon technical merit, business challenges, and early market indicators. Teams present their idea-filtering rationale to a panel for review and feedback. Behind this evaluation process, the class review reference material on the subject and several accomplished entrepreneurs will share their personal experiences. While the nomenclature align most directly to high-technology for-profit start-up companies, parallels to low-tech-no-tech, intra-preneurship, non-profits, and social entrepreneurship will be discussed.

ENT 423. New Venture Development And Managing For Long Term Success. 3 credits

The focus of ENT 423 is learning how to prepare an effective business plan that will communicate the inherent value of the concept. Among the critical issues that will be addressed are: competitive conditions and industry trends, sustainable competitive advantages, management team, marketing plan, financial plan, exit possibilities, franchising, legal entities. The approach used is appropriate for start-ups and for corporate venturing. It is also suitable for both profit and for not-for-profit organizations. Also included is a social entrepreneurship module. At the same time plans are prepared, other entrepreneurial issues are studied, such as assembly resources, launching and building new ventures and harvesting results. Lectures, cases and guest speakers are utilized. The speakers will address a range of new venture topics from the development of management teams, marketing, finance, venture capitalists and legal issues. The completion of a business plan for a proposed new venture is required.

ENT 424. Projects in Entrepreneurship. 3 credits

This course combines a supervised internship with a start-up firm with lectures and in-class discussion on the management of new ventures. The internship places students with Rochester-area firms where they work closely with senior managers for approximately 120 hours over an academic term. In their internship, students will focus on the commercial viability of the firm's offerings. This will be accomplished through shadowing management, reviewing reports, participation in meetings and work assignments. Complementing this hands-on entrepreneurial experience are weekly classes held to discuss student experiences. In addition, there will be lectures on pertinent entrepreneurial subjects as well as guest speakers.

ENT 425. Technical Entrepreneurship. 3 credits

This course provides an opportunity to examine the management practices associated with technical innovation and new business development. The analysis of entrepreneurship is evaluated primarily from the perspective of a start-up venture that requires equity capital investment. Management issues discussed include organizational development, analysis of market opportunities, market engagement, financial planning and control, capitalization, sources of funds, the due-diligence process, and valuing the venture. An important reason for taking this course is to learn how to develop a business plan. Therefore, a significant component of a student's final grade will be based on this. In too many instances, a new venture does not become a viable entity because either there is no plan, or if there is, it is poorly conceived. Furthermore, a good plan is an effective communications tool for the investment community. An additional benefit is learning to work in multidisciplinary teams. Teams of three to four students collaborate in the preparation of a business plan. The course includes time for students to share business ideas and identify possible team members. In general, each team includes two students and two science/technology graduate students. Other team configurations are possible with instructor approval. Each team's business plan will receive a grade and that grade will apply to each individual on the team. Each team has a coach who is an experienced businessperson. The coach is available to provide feedback to the team. This course is cross listed at OPT 481 and is taught by a faculty member at Simon and who is from Engineering.

ENT 426. Technology Transfer and Commercialization. 3 credits

The creation of value in today's globally competitive environment is increasingly driven by technology. Corporations are reaching out for new technologies, and start-up companies with the highest potential are being formed around novel disruptive technologies. Radical innovation creates a 'gale of creative destruction' which transform industries. The identification and evaluation of technologies with high potential is today a key to success. With the decline of corporate research functions, novel technologies are increasingly sourced from other firms and universities. This course examines the overall technology commercialization process, with an emphasis on the processes by which intellectual property is protected, valued and transferred from one organization to another. The course addresses the strategic decisions involving novel technology: the identification of target markets, the economic valuation along the phases of the commercialization process and the assessment of alternative commercialization strategies including licensing, startup company formation and venture capital funding. The course is taught by a combination of lectures and real-world case studies of current technologies, primarily from the University of Rochester in science, engineering and medicine.

ENT 427. Practicum in Technology Transfer and Commercialization. 3 credits

Students in this course will work in the Office of Technology Transfer on projects which are a best fit to the student's background and the range of inventions from the University of Rochester in science, engineering and medicine. Projects can include either marketing to existing companies or work on catalyzing a startup company. Either type of project will require assessments of novel concepts based on discussion with the inventors and direct market research and interactions with potential customers. The skills required are primarily those of marketing and business assessment, but some facility with technical content will be helpful. The students will prepare a technology commercialization and/or new venture plan and assist the licensing executives in the University's Office of Technology Transfer in the negotiation process to implement the plan.

ENT 431. Legal and Tax Considerations of New Ventures. 3 credits

This course surveys, from the entrepreneur's perspective, legal and tax considerations that impact strategic choices in organizing, funding, staffing, governing, and operating new ventures. The course's principal focus is on how to create and retain competitive advantage through the skillful ordering of legal affairs. Emphasis will be transactional and include analysis of such issues as the creation and protection of intellectual property, technology licensing, global expansion, and internet commerce. The course will include, as a context for applied learning, a term project involving the creation and evolution of a selected new venture opportunity.

ENT 432. Basic Business Law. 3 credits

This course surveys the law of contracts, agency, and business associations with the objective of developing familiarity with selected laws, regulations, legal principles, and legal processes that govern (a) efficient exchange, generally; and (b) how and in what ways managers and entrepreneurs organize and interact to facilitate exchange. Although emphasis will be on United States law, there will be selected reference throughout the course to issues related to international transactions and to pertinent differences in legal systems of countries outside the United States. The course has a distinct transactional focus, with heavy reliance upon contemporary cases, commercial practices, and issues. Particular attention will be given to the impact of the legal framework upon sound managerial decision-making, business risk management, commercial rights and responsibilities, and ultimately business valuation.

ENT 435. Negotiation Theory And Practice: Bargaining For Value. 3 credits

This course surveys the theoretical and behavioral underpinnings of negotiation practices and develops skills that enhance the ability to capture value in cooperative and competitive bargaining scenarios. Students participate in and evaluate several cooperative and competitive negotiation simulations. Grades depend, in large part, on performance in these exercises.

ENT 441. Special Topics in Entrepreneurship. 3 credits

This course aims at educating medical technology innovators how to increase their likelihood of success in identifying important clinical needs; inventing new medical practices, devices, and instruments; and transforming these advances into businesses that improve health. It covers several topics, including clinical cost effectiveness methodologies, needs finding and formulation, market analysis for biotech, patient searching strategies, and models of disease state and existing technologies. The course is unique in that it attracts both medical students and business students who are working on supervised projects together.

ENT 441A. Special Topics: Medical Entrepreneurship. 3 credits

This course aims at educating medical technology innovators how to increase their likelihood of success in identifying important clinical needs; inventing new medical practices, devices, and instruments; and transforming these advances into businesses that improve health. It covers several topics, including clinical cost effectiveness methodologies, needs finding and formulation, market analysis for biotech, patient searching strategies, and models of disease state and existing technologies. The course is unique in that it attracts both medical students and business students who are working on supervised projects together.

ENT 442A. Special Topics In Entrepreneurship: Fundamentals Of Social Entrepreneurship. 3 credits

This course provides both an academic exploration of social impact and entrepreneurship, as well as real-world clinical projects with clients and deliverables. Readings will explore the background, overview, evolution, challenges, structures, and potentials of applying social entrepreneurial tools and attitudes to address critical societal issues, such poverty, education, public health, and environmental threats. The role of both for-profit and not-for-profit entities will be examined. Clinical projects will address business strategies, financing, and that have clearly defined, implementable solutions for real-world problems.

ENT 442C. Practicum in Urban Entrepreneurship. 3 credits

This course provides an academic exploration of social impact and entrepreneurship at the urban/city level, as well as real-world clinical projects with clients and deliverables. Readings will explore the background, foundational framework, programmatic solution attempts, challenges, structures and potentials of applying entrepreneurial tools and attitudes to address critical urban development issues with a particular focus on Rochester. The roles of both for-profit and not-for-profit entities will be examined. We will also explore the role of local government in addressing these urban issues. Clinical projects will address business strategies, financing and approaches that have clearly defined, implementable solutions for real-world problems of recovering cities and urban areas.

ENT 444. Entrepreneurial Finance. 3 credits

This course provides an introduction to financial theories and tools an entrepreneur needs to start, build, and harvest a successful venture. Lectures and case studies cover financial planning, business valuation (including the venture capital and the real option approach), financing, venture capital funds, compensation structures, and exit strategies.