School of Entrepreneurship & Business
**On hold**
MSc Venture Finance and Innovation
(subject to validation)
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The MSc in Venture Finance and Innovation Management in concerned with the critical aspects of venture finance and innovation management of newly created and high growth businesses. The programme aims to provide a critical perspective on management of entrepreneurial growth, types of the finance available to the new start-ups and large businesses and the management of the financial resources and the creation of new product/service in the entrepreneurial venture. The program also covers the macro level issues related to the characteristics of the financial markets and their influence on the new venture growth. The program responds to the growing recognition for the development of the entrepreneurial venture finance knowledge, capabilities, skills and techniques required by the newly created and existing businesses. The one year programme for full time students is also available ton part-time students on a modular format (available over a maximum period of 5 years).
The programme should benefit graduates looking for a career in international business, to employees of transnational and entrepreneurial organisations, to those setting up new ventures in knowledge-based or high technology industries, which are located in the global market place, to policy makers, and to others interested in critically investigating the global market place of business and entrepreneurship.
Course Structure
The programme has three parts – the certificate level, the diploma level and the dissertation.
Stage One – the Postgraduate Certificate Level
Entrepreneurship: Theories, Policies, and Practices – economic, sociological and psychological theories of entrepreneurship; forms and typologies of entrepreneurship; enterprise culture and attitudes; national and international policy issues and imperatives; entrepreneurship in practice; international entrepreneurship
Managing New and Growing Ventures - The management of sustainable new and small and medium sized enterprises. The module will focus on small business development processes and their management, including networking, marketing, financial and behavioural aspects in different international environments. The focus of the module will be practical and it will be concerned with enabling students to examine and organise different forms of learning, skills, product and service development of new ventures. The module will combine learning of the operational issues (finance, marketing, human resources and business planning) together with firm-specific and firm-related externalities, such as the economics of small businesses, cultural, technological, environmental issues as well as customer-orientation issues that are essential for entrepreneurs in different contexts.
Financial Markets - Critical understanding of the international and domestic financial environment and how it affects entrepreneurial ventures in the short and the long term period. The module focuses on several broad and interrelated conceptual issues such as international financial markets and institutions; international risk management; management and measurement of foreign exchange exposure. The module provides a critical understanding of the theoretical concepts systems and functions of the international financial markets, institutions and financial risk management.
Entrepreneurial Finance- Theory, process and context of entrepreneurial venture finance. Financing issues from both entrepreneur and investor perspective will be reviewed. The process of investment will be explored in depth by using live examples and case studies. This modules covers the characteristics of different types of venture finance available to entrepreneurs from standard provision such as bank loans or credit guarantees to more sophisticated venture finance instruments (private equity, hedge funds, venture capital funds, business angels private equity, micro credits, etc.). Knowledge of theoretical and practical issues will enable students to understand and appreciate the broad range of different sources of finance in specific contexts, and variations in deals and contracts.
Stage Two – the Postgraduate Diploma
Entrepreneurial Finance Management- The process of building a financial forecast by the managers of the entrepreneurial ventures (setting financial goals, using financial statements, expense and revenue forecasting). The module focuses on the monitoring the financial performance of entrepreneurial ventures, management of the internal and external sources of funds and financing high growth ventures. The module examines appropriate scenarios for their efficient use of venture finance by entrepreneurial organisations (new ventures, management buyouts, mergers and acquisitions and small community-based projects) and the process of management of the finance available both by the recipients and by the providers of entrepreneurial finance.
Innovation Management -Managing innovation for creative competitive advantage. It provides students with knowledge and skills to manage innovation at the strategic and operational levels. Specifically, it integrates the management of market, organizational and technological change to improve the competitiveness of entrepreneurial ventures. The module is structured to cover six broad and interrelated issues: a) defining innovation management, b) developing an innovation strategy, and c) establishing effective external linkages, d) managing the internal processes, e) building innovative organisations and f) managing innovation performance.
Business Research Methods -This module will help the student to acquire key skills and competencies to carry out management research or prepare a comprehensive business plan, suitable for the completion of a Masters level programme. The module will address philosophical issues underlying management research, how to select methods and judge the quality and value of research outcomes. Students will develop an in-depth understanding of the research process and applications of a range of research techniques. Key contents include defining and managing a research project, identifying research topic, developing research proposal, searching for information; designing, doing, communicating research and writing up research project. In addition, and especially, for those opting for the business plan route, the module will provide a platform for evaluating the quality of relevant, market-oriented research designs, business planning methods, researching the task environment and new venture
Stage Three – The Masters (MSc) Level
Dissertation or Comprehensive Business Project
Research methods course preceding Dissertation
Understanding and doing research in marketing; Secondary research for scoping markets, countries, competition, industry analysis; Primary research - Quantitative and qualitative research methods for data collection and data analysis
Dissertation topic addresses issues of Venture Finance and Innovation Management in a specific context by drawing upon the learning from previous stages. Students will have the option of exploring in greater detail a specific topic covered in the whole programme.
Student may opt to do the Comprehensive Business Project in lieu of the dissertation. This option should suit those students who wish to explore in depth the development of a business plan for an international new venture, a new product or service, or indeed the preparation of a broad business development strategy for any organisation planning to explore or extend their business in international markets.
Teaching and Learning Methods
The programme will be taught through a mix of traditional and innovative learning methods, workshops, presentations by entrepreneurs and research inputs. Action learning or direct interaction with ‘real life’ business situations will be a key component of the learning method used in the programme. International case studies will be used for teaching and learning and students will be encouraged to make direct links with entrepreneurial organisations in order to test and validate their own learning in the ‘real world’.
Full time and part-time students will be studying together in intensive learning settings. Guided self-learning will be feature of the programme, enabling students to explore, investigate and research into the various topics, interact with practitioners, and work with peers on projects.
Future opportunities
Successful completion of the postgraduate programme should enable students to see rewarding future careers in
a) management in large organisations, specialising in marketing/ international business development/ new venture management/project management ;
b) management in internationally-oriented small businesses, such as high technology ventures;
c) the development of new international or ‘born global’ ventures operating in international markets;
d) the public sector especially in national or regional government departments or agencies providing support for international business/marketing activity or the development of international economic and business policy;
e) non-governmental organisations operating in international environments; and
f) research and education.