MGMT 751/CHEM 751/MSCI 751 (S) NEW VENTURE CREATION FOR SCIENCE AND ENGINEERING (3 credits).
This course deals with the concepts and theories relevant to new venture creation. Our primary focus is the start-up process with particular emphasis being placed on market issues, intellectual property and entrepreneurial finance. As part of the course we will evaluate the commercial potential of a live technology drawn from the Rice engineering/science community. The concepts covered will be particularly relevant to students who are interested in careers in technology or entrepreneurial ventures.
T-Th 5:00 0 6:20 PM New Jones School Building, Room 217
If you have a documented disability that will impact your work in this class, please contact me to discuss your needs. Additionally, you will need to register with the Disability Support Services Office in the Ley Student Center.
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Jones Graduate School of Management |
Department of Chemistry |
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249 JGSM Building |
410C Butcher Hall |
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(713) 348-6234 |
(713) 348-5610 |
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Industry Participants
| Chris Coker | |
| Oxane Materials, Inc. | |
| chris@oxanematerials.com |
Required Course Material:
| Startup: A Silicon Valley Adventure. Jerry Kaplan. |
| Reading Packet |
Additional Reading Material:
E Boys. Randall E. Stross
Inc Magazine - http://www.inc.com/
RedHerring Magazine - http://www.redherring.com/
The "Growing Concerns" section in issues of the Harvard Business Review is often valuable.
Fast Company Magazine &endash; http://www.fastcompany.com/homepage/
Course Description:This course deals with the concepts and theories relevant to the management of new and/or small technology based businesses. Our primary focus is the start-up process with particular emphasis being placed on market issues, intellectual property and entrepreneurial finance. In the process of covering this material we shall:
A variety of methods will be used to explain the concepts, theories and practices of entrepreneurship, including, class lectures, site visits, and case analyses. A number of entrepreneurs and professional supporting the new venture process will lead and participate in several of the class discussions. You are expected to have prepared the assignment and be prepared to engage the guest speaker.
Assignments We are extremely fortunate
to have the participation of Chris Coker, CEO of Oxane Materials, Inc., who
has kindly agreed to participate in the class and allow us to evaluate the commercial
potential of Oxane Materials’ ceramic nanoparticle technology from several
different perspectives. Oxane Materials Inc. was founded in 2002 to develop
products utilizing this technology.
Market Evaluation Assignment
In teams of 3 / 4 we will assess the market potential of the ceramic nanoparticle
technology in the Ultra-filtration market, the initial market targeted by Oxane
Materials. In this assignment we will examine potential market segments and
evaluate each of them for commercial potential.
Intellectual Property
Assignment
At the base of the competitive advantage for the Oxane Materials are the
patents filed by Rice University. In this assignment the robustness of the patent
portfolio will be appraised.
Product Concept Assignment:
One of the exciting opportunities facing Oxane Materials is the commercial
potential of the ceramic nanoparticle technology in additional markets using
different product offerings. A major component of this course is to create and
develop a business concept for one of these potential products. This exercise
will be conducted in teams of 3 / 4. The purpose of this assignment is to prepare
an opportunity assessment of not more than 20 pages, roughly 8-10 pages identifying
the opportunity and 8-10 pages identifying the resources and critical success
factors for your business idea. The viability of your concept will be assessed
in a presentation to your peers, the course instructors, and industry participants.Hints:
• Develop ideas
for your product
t• Identify the
attributes that are important and solicit customer feedback on your concept.
• Identify market segments and estimate the size/potential growth rate.
Think about price points.
• Build a prototype of your product and identify the resources needed to
produce the product.
• Conduct a rough financial analysis.
• What type of organization would you form to pursue this opportunity?
Effective management teams
are critical for the success of high-tech new ventures. This project will afford
you the opportunity to develop skills in this area. At the conclusion of the
project, each team is encouraged to analyze their team’s dynamics and discuss
ways in which the team could have been more effective.Outside Class Requirement.
In addition to the class assignments you should attend at least one Rice
Alliance for Technology and Entrepreneurship Forum. These are held periodically
during the spring semester. Please see http://www.alliance.rice.edu for more
information about the scheduleGrading Criteria:
| Classroom participation: | 15% |
| Rice Alliance Forum: | C/NC |
| Market Evaluation Assignment: | 10% |
| Intellectual Property Evaluation Assignment: | 15% |
| Exam: | 20% |
| Product Concept Report | |
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20% |
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20% |
Course Policies:
Classroom attendance is required. Students who miss class sessions will
have points deducted from their final participation grades. Students who miss
class sessions for “legitimate” reasons can avoid having points deducted
from their final participation grade by informing Michael Heeley via email (heeley@rice.edu)
of the reason for the absence (no later than the day of the absence).
Any student with a documented disability needing academic adjustments or accommodations
is requested to speak with one of the instructors during the first two weeks
of class. All discussions will remain confidential. Students with disabilities
should also contact Disabled Student Services in the Ley Student Center.
Personal Information Sheet
During the first class session you will be asked to complete a description of
your background and the nature of your entrepreneurial interests (last page
of this outline). You will be also asked to summarize this orally in the first
class.Personal
Information Sheet
During
the first class session you will be asked to complete a description of your
background and the nature of your entrepreneurial interests (last page of this
outline). You will be also asked to summarize this orally in the first class
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1 |
1/13 |
Course
Introduction and Overview
Perspectives on Entrepreneurship |
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2 |
1/15 |
New
Venture Ideas
Reading Assignment: Opportunity Recognition (Chapter 3) and The Venture Opportunity Screening Guide Bring three new venture ideas to class ready to share them. Be able to answer the following questions for each idea: Who is going to buy it? Why are they going to buy it? How are they going to buy it? |
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3 |
1/20 |
Stages
of Entrepreneurship Reading Assignment: “Start-Up: A Silicon Valley Adventure.” |
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4 |
1/22 |
Presentations of Start-Up Stage Models |
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5 |
1/27 |
Creation of
Ultra-filtration membranes using Ceramic Nanoparticle technology.
Chris Coker, CEO of Oxane Materials Inc. |
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Evaluation
of Initial Target Market
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6 |
1/29 |
Pre-Venture Market Analysis |
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7 |
2/3 |
Market Segmentation |
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8 |
2/5 |
Perfecting Your Positioning |
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9 |
2/10 |
High Tech. Marketing |
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10 |
2/12 |
Marketing Research |
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Evaluation
of Patent Portfolio
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11 |
2/17 |
Delineating
the scope of the patent claims. Professor Andrew Barron Reading Assignment: Patent Applications. Market Evaluation assignment due. |
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12 |
2/19 |
Assessing potential competing technological claims. Professor Andrew Barron |
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13 |
2/24 |
Mid-term Exam |
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14 |
2/26 |
Strategic Options
for Oxane Materials Inc. |
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15 |
3/2 |
Mid-Term Recess |
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16 |
3/4 |
Mid-Term Recess |
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17 |
3/9 |
Outline of Product Concept Assignment |
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Entrepreneurial
Finance
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18 |
3/11 |
Presentations
of IP findings. Professor Andrew Barron IP Evaluation assignment due |
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19 |
3/16 |
Valuation
Models Reading Assignment: A Note on Valuation in Private Equity Settings. HBS #9-297-050 |
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20 |
3/18 |
Providing
Venture Funding Guest Speaker: Dennis Murphree, Murphree Venture Partners |
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21 |
3/23 |
Raising
Venture Money – perspectives from the frontline. Guest Speaker: Chris Coker, CEO of Oxane Materials Inc. |
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Creating
the Organization
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22 |
3/25 |
The
Business Plan Reading Assignment: Chapter 11 – The Business Plan |
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23 |
3/30 |
Legal
forms of Organizations I Guest Speaker: Adrienne Bond (tbc) |
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24 |
4/1 |
Legal
forms of Organizations II Guest Speaker: Adrienne Bond (tbc) |
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25 |
4/6 |
Creating
the New Venture Team Reading Assignment: Chapter 8 – The New Venture Team I |
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Entrepreneurship
within Established Corporations
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26 |
4/8 |
Corporate Entrepreneurship |
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27 |
4/13 |
Practical
Corporate Entrepreneurship Guest Speaker: To be determined |
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Product
Concept Assignment
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28 |
4/15 |
Communicating your venture idea |
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29 |
4/20 |
Product Concept Assignment |
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30 |
4/22 |
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