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Venture Capital Investment

2019/2020
Учебный год
ENG
Обучение ведется на английском языке
4
Кредиты
Статус:
Курс по выбору
Когда читается:
1-й курс, 3 модуль

Преподаватель

Course Syllabus

Abstract

The course will show you how venture capital projects attract investment. You will learn how to estimate how much money a project needs to be launched, from which sources and how this need can be covered. You will learn how to evaluate innovative companies and investor share. You will understand what affects the effectiveness of a venture project. In the course of mastering the discipline, you will also learn how to assess the attractiveness of an investment project; make investment proposals and presentations to investors.
Learning Objectives

Learning Objectives

  • Knowledge of basic concepts of venture management, venture capital investment methods and tools
  • Ability to creatively solve practical problems, using the experience gained in the history of formation and development of venture management
  • Ability to assess the attractiveness of an investment project methodically and correctly
Expected Learning Outcomes

Expected Learning Outcomes

  • Knows the specifics of preparing an investment proposal for business angels and their associations
  • Knows the basic concepts of venture management, methods and tools of venture capital investment
  • Knows the stages of venture capital investment
  • Knows the main sources of venture capital
  • Knows the peculiarities of the informal venture capital market
  • Understands the mechanisms of corporate venture capital investment
  • is able to develop investment proposals for venture capitalists
  • is able to prepare presentation materials of the innovative project for potential investors
  • is able to assess the attractiveness of an investment project methodically and correctly
  • is able to apply modern methods of assessing the value of an innovative company and investor's share
  • Knows the mechanisms of public-private partnership in venture capital investment
Course Contents

Course Contents

  • The role of business angel associations in forming innovative regional clusters
    Informal business angel associations. Functions of business angel associations. Formation of regional innovation clusters with venture capital participation.
  • Main features of venture capital
    Venture capital as a source of financing for innovative projects. Venture investors as financial intermediaries. Participation of venture investors in the management of financed companies. Revenue from exiting financed companies. Main areas of venture management.
  • Venture capital investment processes
    Stages of venture capital investment. Areas of activity of a venture investor. Structure of the venture fund. Remuneration of the management company.
  • Informal venture capital market
    Informal venture capital market: concept and structure. Problems of the informal venture capital market in Russia. Differences between business angels and institutional investors. Features of business angels in Russia.
  • Corporate venture capital investment models and mechanisms
    The concept of corporate venture capital investment. Aims and criteria of CVI. Classification of corporate venture investment strategies. Direct (corporate) venture capital investment (RVC). Methods for evaluating venture projects and making decisions on corporate venture capital investment.
  • Development of an innovative project to attract venture financing
    Ways of commercializing new technologies. Tools for planning innovative projects. Business modeling of innovative projects. Innovation project market analysis. Development of market entry strategy. Financial model of innovative project. Presentation of the innovative project to the investor.
  • Models of partnership between the state and venture capitalists
    Public-private partnerships and their role in the economy. Use of partnership mechanisms in Russia. Tools and models of public-private partnership in the venture capital industry.
Assessment Elements

Assessment Elements

  • non-blocking Auditorial work
  • non-blocking Home task
  • non-blocking Supervision work. Development of a business model for an innovative project
  • non-blocking Examination
    Экзамен проводится в устной форме (presentation of the investment proposal). Экзамен проводится на платформе Zoom (http://zoom.us/) К экзамену необходимо подключиться согласно расписанию ответов, высланному преподавателем на корпоративные почты студентов накануне экзамена. Компьютер студента должен удовлетворять требованиям: наличие рабочей камеры и микрофона, поддержка Zoom. Для участия в экзамене студент обязан: поставить на аватар свою фотографию, явиться на экзамен согласно точному расписанию, при ответе включить камеру и микрофон. Во время экзамена студентам запрещено: выключать камеру, пользоваться конспектами и подсказками. Кратковременным нарушением связи во время экзамена считается нарушение связи менее пяти минут. Долговременным нарушением связи во время экзамена считается нарушение пять минут и более. При долговременном нарушении связи студент не может продолжить участие в экзамене. Процедура пересдачи аналогична процедуре сдачи.
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.25 * Auditorial work + 0.25 * Examination + 0.25 * Home task + 0.25 * Supervision work. Development of a business model for an innovative project
Bibliography

Bibliography

Recommended Core Bibliography

  • Green, M. B. (2012). Venture Capital : International Comparions. Hoboken: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=506715

Recommended Additional Bibliography

  • Bottazzi, L., Da Rin, M., & Hellmann, T. (2016). The Importance of Trust for Investment: Evidence from Venture Capital. Review of Financial Studies, 29(9), 2283–2318. https://doi.org/10.1093/rfs/hhw023
  • Breznitz, D., Forman, C., & Wen, W. (2018). The Role of Venture Capital in the Formation of a New Technological Ecosystem: Evidence from the Cloud. MIS Quarterly, 42(4), 1143–1169. https://doi.org/10.25300/MISQ/2018/13577
  • Colin Mason. (2007). Venture Capital: A Geographical Perspective. Chapters. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.elg.eechap.3792.3
  • Corporate venture capital: From venturing to partnering. (2011). Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsnar&AN=edsnar.oai.tilburguniversity.edu.publications.24469b84.7f76.4eb1.b08f.68d072811ab8
  • David Lingelbach. (2012). Global venture capital “hotspots”: developing countries. Chapters, 1. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.elg.eechap.13985.11
  • Ennico, C. R. (2015). The Crowdfunding Handbook : Raise Money for Your Small Business or Start-Up with Equity Funding Portals. New York: AMACOM. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=795578
  • Gordon C. Murray. (2007). Venture Capital and Government Policy. Chapters. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.elg.eechap.3792.4
  • Landström, H. (2007). Handbook of Research on Venture Capital. Cheltenham, UK: Edward Elgar Publishing. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=209980
  • Landström, H., & Mason, C. M. (2012). Handbook of Research on Venture Capital. Vol. 2 : A Globalizing Industry. Cheltenham, UK: Edward Elgar Publishing. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=494818
  • Rin, M. D., Hellmann, T., & Puri, M. (2013). A Survey of Venture Capital Research. Handbook of the Economics of Finance, 573. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.eee.finchp.2.a.573.648
  • The Knowledge-based resources of Venture Capital firms’ and Born Global firms’ internationalization. (2018). ASEAN Journal of Management & Innovation, (1), 30. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsswe&AN=edsswe.oai.research.chalmers.se.502647