| CODE | IOT1020 | |||||||||
| TITLE | Funding Issues in Innovation and Entrepreneurship | |||||||||
| UM LEVEL | 01 - Year 1 in Modular Undergraduate Course | |||||||||
| MQF LEVEL | 5 | |||||||||
| ECTS CREDITS | 4 | |||||||||
| DEPARTMENT | The Edward de Bono Institute for Creative Thinking and Innovation | |||||||||
| DESCRIPTION | An essential element for making a business idea happen is to secure adequate funding, especially in the early stages of a venture until profits are being generated. This study-unit shall comprise all the financial basics needed by an entrepreneur, to be used both as a planning tool as well as an instrument for approaching potential financiers. These tools are also essential for monitoring performance over the lifetime of the business as well as in determining future strategies. The various legal forms of a business available shall also be covered. Study-Unit Aims: - To provide students with the necessary knowledge regarding the various planning and monitoring financial mechanisms in entrepreneurship; - To enable them to use such mechanisms as an effective tool in order to increase the likelihood of business success. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Describe the various legal forms of business entities; - Explain different pricing strategies; - Discuss the various forecasting tools used for planning and presentation to various potential funders; - Understand the financial data required for a Feasibility study; - Explain the operational sections of a Business Plan; - Identify the sources of funding available for startups. 2. Skills: By the end of the study-unit the student will be able to: - Decide on the most appropriate legal form for a business entity; - Formulate product pricing strategies; - Utilise forecasting tools for estimating performance, including calculation of maximum sales and break even point; - Develop the preliminary financial estimates as part of a Feasibility study; - Develop the Operating Plan and Resource Requirement sections of a Business Plan; - Understand and prepare a multi-annual Cash Flow Forecast and Profit & Loss Account, based upon assumptions concluded from current information available; - Select the most appropriate funding opportunities for the business. Main Text/s and any supplementary readings: Harvard Business Review (2012) HBR Guide to Finance Basics for Managers. Massachusetts: Harvard Business Review Press. Smith, R. (2010) How to Start a Successful Business. Oxford: Boffins House Publishing. |
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| STUDY-UNIT TYPE | Lecture and Independent Study | |||||||||
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| LECTURER/S | Darin Pace |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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