This module aims to provide students with an understanding of what defines and shapes a start up, appraising the academic perspective (how, when and why should one form a start-up), how to value your asset(s), differences between ‘know-how’ and intellectual property, and will place this analysis in the contexts of the investor perspective, financial management and company legal obligations.

Students will consider sources of investment such as venture capital, how a start up is structured with regard to share holders, directors and employees, and the various responsibilities of each, how successive rounds of investment work, and impact on control of the company and decision-making, and the inevitability of dilution of equity. We will look at key inflexion points, what these mean and their impact on company value, decisions to go to initial public offering, or possible sale to a big pharma/biotech, with a basic understanding of the processes involved.

The module will be based on a mixture of traditional lectures, seminars, tutorials, eLearning and flipped teaching, and will maximise access to diverse guest speakers drawn both from academics who have created start ups and those from the investment community.



This module aims to provide students with the opportunity :

To develop a sound understanding of of the mechanics of company formation, the processes of finance and investment, and the development journey of start ups

To acquire the knowledge of current legal and financial responsibilities involved, the stakeholder relationships within the process and the determinants of success and failure

To develop analytical skills in respect of identifying and appraising assets, to market decision making and key inflection points in the process

To develop evaluative and critical skills in respect of the existing markets and offerings

To communicate evidence based evaluations and conclusions

 

On completion of the module, students should expect to demonstrate the following outcomes:

Knowledge and understanding of

1) the definition, purpose, formations, structures, status and obligations of start ups

2) the financial and legal stakeholders, responsibilities and frameworks which impact on start ups

3) the processes and key inflexion points which impact on and shape decision making through the life cycle of a start up

4) the determinants which measure and inform asset value, to market decisions and success and failure

And will demonstrate the skills and abilities to

5) Interpret and evaluate start up case study samples to identify drivers and contexts which shaped the process and outcomes