The course provides foundational knowledge on various aspects ofentrepreneurial venture creation and management during its life-cycle. Ithas been designed to address multidisciplinary audiences. The objectiveof the course is to teach key issues faced by entrepreneurs and managersat different stages of the life-cycle of an enterprise and is relevant both foraspiring entrepreneurs and for decision makers in establishedenterprises. Topics can be classified in some major themes such as:Making a choice to create an entrepreneurial venture, current trend oftechnology entrepreneurship, how to start a start-up, identifyingopportunities, factors driving competitive advantages, organizationalstructure, basic knowledge of financial statements and project report,introductory knowledge on marketing management, human resourcemanagement, & strategic management, risk analysis, legal aspect ofbusiness, how to raise fund during life-cycle of a new ventures.
INTENDED AUDIENCE: All students with education up to higher secondary can take up thiscourse.
UG/PG: UG and PG
INDUSTRY SUPPORT: All start-ups, companies in emerging technology domains, companiesadopting ‘corporate entrepreneurship’, professionally managedcompanies
Manoj K Mondal, Assistant Professor, Rajendra Mishra School ofEngineering Entrepreneurship IIT Kharagpur, is a senior financialprofessional, an academician and an innovator with several patents to hiscredit. He has received several laurels for his innovations including goldmedal for Best Innovation (2008) awarded jointly by Lockheed Martin,Stanford University, University of Texas at Austin USA and FICCI India,and the best innovation award by Ministry of Chemicals & Fertilizers(2014). Dr. Mondal is presently teaching entrepreneurship at IITKharagpur and has been mentoring many aspiring entrepreneurs for morethan a decade. He is also an active member of an entrepreneurial venture(nucleodyne.com).
Week 1 : Definition, Innovation and entrepreneurship, Contributions of entrepreneurs to the society, risk-opportunities perspective and mitigation of risks. Corporate entrepreneurship or intrapreneurship.
Can entrepreneurship be taught / learnt? The story of Dhirubhai Ambani and Sophia Amoruso.
Profile of an entrepreneur (entrepreneurial qualities).
How to start a new venture, Decision to start a startup,
Myths and realities.
How risky is entrepreneurship, can the risks be mitigated?
Week 2 : Opportunity Identification (pain point), factors
determining competitive advantage (community development, continuously innovate
and remain ahead of others), Market segment, market structure, blue ocean strategy, Marketing research. Industry and Competitor Analysis (market structure,
market size, growth potential), Demand-supply
analysis, Week 3 : Value proposition
Business Model Canvas
Developing an Effective Business Model (concluding part about scalability and repeatability).
Legal forms of business.
Week 4 : Lean product development
Week 5 : Design Thinking,
Design-Driven Innovation, TRIZ (Theory of Inventive Problem Solving),
Zero-based design, Systems thinking, SPRINT
Week 6 : What is a balance team and why is it important
Recruiting early employees. Why entrepreneurs should be very careful about recruitment?
Writing a business plan.
Writing a business plan.
Week 7 : Preparing financial statements, analysis of opportunities based on financials, break-even & margin of safety analysis Week 8 : Government incentives for entrepreneurship (1 lecture),
Funding new ventures – bootstrapping, crowd sourcing, angel investors, VCs, debt financing, due diligence
Legal aspects of business (IPR, GST, Labor law)
SUGGESTED READING MATERIALS:
• Effective Entrepreneurial Management: Strategy, Planning, RiskManagement, and Organization - Robert D. Hisrich • VelandRamadani, Springer (2017)
• Entrepreneurship- Theory, Process Practice –by Kuratko &Hodgetts, Thompson South-Western Publication
• Entrepreneurship –by Robert D. Hisrich (Edition-9)
CERTIFICATION EXAM :
The exam is optional for a fee.
Date and Time of Exams: April 27 2019 (Saturday) Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.
Registration url: Announcements will be made when the registration form is open for registrations.
The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published.
Final score will be calculated as : 25% assignment score + 75% final exam score
25% assignment score is calculated as 25% of average of Best 6 out of 8 assignments
E-Certificate will be given to those who register and write the exam and score greater than or equal to 40% final score. Certificate will have your name, photograph and the score in the final exam with the breakup.It will have the logos of NPTEL and IITKharagpur.It will be e-verifiable at nptel.ac.in/noc.