RICE UNIVERSITY  

ENTREPRENEURIAL MANAGEMENT COURSES

 

Course Description

Syllabus

Schedule

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.

 

Note: Course is offered to senior and graduate students only. Prerequisites: MGMT750/CHEM750/MSCI750.

Cross-reference numbers are CHEM 751, MGMT 751, and MSCI 751

 

T/TH - Keck Hall Rm. 101 - 5:00PM - 6:20 PM

 

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.

 

 

Instructors

 

Professor Michael B. Heeley		Professor Andrew R. Barron
Jones Graduate School of Management		Department of Chemistry
341 Herring Hall		Butcher Hall
(713) 348-6234		(713) 348-5610
heeley@rice.edu		arb@rice.edu

 

 

 

Industry Participants

 

Professor Naomi Halas		Dr. Tim Westby, Attorney
Dept. of Electrical and Computer Engineering		Conley, Rose and Tayon, P.C.
halas@rice.edu		TWestby@crtlaw.com
Adrienne Bond		Dennis Murphree
Bond & Lee LLP		Murphree Venture Planners

 

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Required Course Material:

 

Startup: A Silicon Valley Adventure. Jerry Kaplan.

 

Reading Packet

 

 

Additional Reading Material:

 

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:

 

1. Identify and determine what entrepreneurs need to know about the critical driving forces of the new venture success.
2. Identify how successful entrepreneurs and investors create, find and differentiate profitable and durable opportunities.
3. Evaluate and determined how successful entrepreneurs and investors create and build value for themselves, and others.
4. Identify and determine the necessary financial and non-financial resources necessary for new ventures, identify the criteria used to screen and evaluate proposals.
5. Apply venture opportunity screening techniques to an actual start-up idea.

 

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.

 

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Assignments

 

We are extremely fortunate to have the participation of Professor Naomi Halas, who has kindly agreed to participate in the class and allow us to evaluate the commercial potential of her Metal Nanoshell technology from several different perspectives. Professor Halas is currently forming a start-up to pursue commercial opportunities using this technology.

 

Market Evaluation Assignment:

 

In teams of 3 / 4 we will assess the market potential of the Metal Nanoshell technology in the initial market targeted by Professor Halas. In this assignment we will examine potential market segments for this product and evaluate each of them for commercial potential.

 

Intellectual Property Assignment:

 

At the base of the competitive advantage for Metal Nanoshell technology start-up 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 Professor Halas is the commercial potential of the Metal Nanoshell 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.

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Hints:

 

• Develop ideas for your product.
• 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 schedule

 

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Grading Criteria:

 

Classroom participation:	15%
Rice Alliance Forum:	C/NC
Market Evaluation Assignment:	10%
Intellectual Property Evaluation Assignment:	15%
Exam:
Product Concept Report	20%
Written:	20%
Presentation:	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

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Schedule - CHEM/MSCI/MGMT 751

 

Please Note: Due to the participation of individuals from industry this schedule is very likely to change.

We will endeavor to provide timely notice of changes.

 

Day	Date	Instructor	Subject
Tuesday	1/16		Course Introduction and Overview Perspectives on Entrepreneurship
Thursday	1/18		New Venture Ideas Reading Assignment: Opportunity Recognition (Chapter 3) and The Venture Opportunity Screening Guide Bring three new venture ideas to class ready to answer the following questions for each idea: Who is going to bujy it? Why are they going to buy it? How are they going to buy it?
Tuesday	1/23		Stages of Entrepreneurship Reading Assignment: Start-Up: A Silicon Valley Adventure
Thursday	1/25		Presentations of Start-Up Models
Tuesday	1/30	Prof. Naomi Halas	Metal Nanoshells - Professor Naomi Halas Overview of technology and initial target market
Thursday	2/1		Market Segmentation
Tuesday	2/6		Market Segmentation
Thursday	2/8		TBA
Tuesday	2/13		Conjoint analysis I
Thursday	2/15		Conjoint analysis II
Tuesday	2/20	Dr. Tim Westby Professor Andrew Barron	Delineating the scope of the patent claims. Reading Assignment: Patent Applications
Thursday	2/22		Assessing potential competing technolgical claims
Tuesday	2/27		Strategic Options for Metal nanoshells Reading Assignment: Strategies for Profiting from Technological Product Innovations IP Evaluation assignment due.
Thursday	3/1		Mid -Term Exam
Tuesday	3/6		Mid-Term Recess
Thursday	3/8		Mid-Term Recess
Tuesday	3/13		Outline of Product Concept Assignment
Thursday	3/15		Presentations of IP findings IP Evaluation assignment due.
Tuesday	3/20		Vaulation Models Reading Assignment: A Note on Valuation in Private Equity Settings. HBS #9-297-050
Thursday	3/22		Providing Venture Funding Guest Speaker: Dennis Murphree, Murphree Venture Planners
Tuesday	3/27		Raising Venture Money - Perspectives from the Frontline
Thursday	3/29		The Business Plan Reading Assignment: Chapter 11 - The Business Plan
Tuesday	4/3		Legal forms of Organizations I
Thursday	4/5		Legal forms of Organizations II
Tuesday	4/10		Creating the New Venture Team Reading Assignment: Chapter 8 - The New Venture Team
Thursday	4/12		Corporate Entrepreneurship I
Tuesday	4/17		Corporate Entrepreneurship II
Thursday	4/19		Practical Corporate Entrepreneurship III
Tuesday	4/24		Product Concept Assignment
Thursday	4/26		Product Concept Presentations Note: Class will run from 5:00 to 8:00 PM. Dinner will be provided.

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