Entrepreneurship Seminar

Objectives and competences

The aim of entrepreneurial seminar is to prepare future economy engineers to potentially their own entrepreneurial path. In addition to providing know-how needed for establishment of one’s own enterprise, the course aims to encourage entrepreneurial mindset of students. It is important for them to see entrepreneurship or establishment of their own enterprise as an opportunity, to further develop their intellectual self-confidence and to view engineering know-how as an entrepreneurial challenge.

The course basic aim is to teach students independent decision making, entrepreneurial thinking, working in teams, team leading and assumption of responsibilities in their role as organizers. Furthermore, the seminar aims to show how to draw a business plan project with team efforts, become familiar with processes and procedures of starting up a new enterprise and gain knowledge necessary for business plan presentation to various audiences.

Prerequisites

Required prerequisit knowledge from courses: Economics and Organization of the Enterprise. Marketing, Labour and organizational law and Accountabcy and Business Finance and Human Resource Management.

Content

The course is designed as a guided teamwork project, a combination of lectures, presentation of good practices, preparations for elaboration, drafting and presentation of the final seminar paper i.e. a business model. The introduction contains the presentation of entrepreneurship (significance of entrepreneurship and dynamic enterprises, seizing opportunities, self-employment), an entrepreneur (self-assessment, personal growth, education), establishment of an enterprise (procedures, phases, ownership, initial capital), and examples of good practices (invited lectures with commentary and discussion). Drafting of a business model is based on a lean enterprise methodology using a variety of tools (canvas, business plan) and encompasses the following topics:
• An entrepreneur (entrepreneurship as a choice, an individual, types of entrepreneurship, networking, teams)
• Business opportunities (problem – solution, competences, differentiator, value proposition)
• Basic metric methods, hypothesis and pivoting
• Customer (customer segmentation, market scope, market analysis, market research)
• Value proposition (design, price, accessibility, risk, applicability)
• Customer relationships (communications, implementation, and management, tools, communities)
• Distribution channels (access to customers, optimizing)
• Revenue streams (income projections, sales methods such as registration fees, leases, user fees, sales, royalties)
• Key resources (entrepreneurial team, knowledge (know-how), finances, other resources)
• Key activities (production, platforms, networking, problem-solving)
• Partners’ network (optimizing risks, the economy of scale, necessary resources)
• Expected costs (planning, fixed and variable costs, integration)
• Business plan elements (sector, product or service development, market, sales, organization, financial projections, risk assessment, time schedule)
• Financing an enterprise’s establishment and growth
• Presentation of an entrepreneurial project (pitch).

Intended learning outcomes

Knowledge and understanding:
First of all the students will learn about the basic principles of entrepreneurship and general approaches to planning and designing business models. This will be followed by a selection of entrepreneurial ideas and discussion of individual ideas as opportunities (key assumptions: good value proposition for customer target segments, business model adjustment to an individual example; testing of entrepreneurial hypothesis on the market; document modification and design to include metrics and financial assumptions. The focus will be on grasping the basic methods, tools and constructs needed in order to verify business ideas and, based on market confirmations, identify them as business opportunities. Within this framework, emphasis is on 9 block business model generation and other software tools used in business planning.

By using the mentioned tools, small groups of students will, under guidance of the mentor, develop their own idea into a business model and present it to their classmates. Major efforts will be aimed at encouraging innovative thinking and creative work of students whilst using and integrating the knowledge gained during their study of different courses. Incorporation of the seminar into the third year curriculum will allow students to realize that there is close integration and interdependency between numerous contents and areas which they came across during their studies.

Readings

Assessment

• Knowledge needed for establishment of one’s own enterprise, entrepreneurial know-how, understanding examples of good practice and how to design a business plan, will all be assessed by marking verbal and written presentations of the final paper. • When marking verbal presentation, attendance and participation at lectures and practical work will account for 20% of the mark as will one’s zealousness and understanding, while verbal presentation will account for 60% of the mark. With regards to the written paper, the following elements will be taken into account: Innovation and creativity of the idea and the team (25%), Cogent argumentation and suitable coverage of key contents of the business plan will also account for 25% of the mark, the Idea’s market potential will account for 20% of the mark as will Feasibility of the business plan, whereas Suitability of technical implementation will account for 10% of the mark. 40/60

Lecturer's references

Mag. Iztok Lesjak
Actively involved in: Management of the international regional development projects, management of the science and technology parks, incubators and accelerators development projects, management of infrastructural and investment projects, assessment of entrepreneurial ideas, consultancy in enterprise development, development of services and environment for entrepreneurial beginners, entrepreneurial mentor
Employment/career: Iztok Lesjak was born in 1955 in Koper, and graduated at the Faculty of Electrical Engineering and Computer Sciences in Ljubljana, Department of computer sciences; subsequently he became a Master of Economic Sciences at the University of Ljubljana, Department of operational research. His research activities date back in 1980 when he became a researcher at the Institute “Jozef Stefan” in Ljubljana. He took part in research and development projects in the area of automated processes and digital telephony and as a result he registered two patents and five technical innovations. His career led him to become the head of the Technology Park Ljubljana project at the Institute “Jozef Stefan”. He participated in building development strategies of technological parks in Slovenia and since 1995 he has served in his role as the managing director of the Technology Park Ljubljana. At present, Iztok participates at and coordinates applied projects aimed at encouraging innovative entrepreneurial culture in Slovenia, transfer of good practices in the sphere of promoting innovation and technical transfer from academic sphere into the industry. He successfully implemented investment and infrastructure construction project of Technology Park in Ljubljana Brdo (7 facilities covering an area of 61,000m2, investment worth EUR 42 million). He is head of consultation and implementation of programmes aimed at high-tech enterprises, members of the Technology Park Ljubljana.

Iztok is the author and co-author of numerous scientific publications, conference papers and articles promoting innovative entrepreneurship and supportive entrepreneurial environment such as technology parks and incubators, Slovenian economic and regional development, innovative services, as well as specific programmes aimed at high-tech enterprises, members of technology parks. During his work at the Technology Park Ljubljana, he assessed over 400 business plans and various entrepreneurial initiatives.

Achievements: 4 expert and popular articles, 3 scientific papers at conferences, 13 published expert contributions at conferences, 2 chapters in scientific monographs, over 10 research projects, more than 20 applied projects, over 10 monographs and other final papers, and 7 mentorships for diploma papers.

Selected bibliography

  1. LESJAK, Iztok. Networking for internationalization. V: REBERNIK, Miroslav (ur.), RUS, Matej (ur.) The power of networking : proceedings of the 28th Conference on Entrepreneurship and Innovation Maribor - PODIM, Maribor, 27th-28th March 2008. Maribor: IRP Institute for Entrepreneurship Research, 2008, str. 117-124. [COBISS.SI-ID 22652455]

  2. LESJAK, Iztok. Nuturing champions experiences of technology park Ljubljana. V: REBERNIK, Miroslav (ur.), MULEJ, Matjaž (ur.), RUS, Matej (ur.), KROŠLIN, Tadej (ur.). Nurturing champions of innovation and entrepreneurship : proceedings of the 27th Conference on Entrepreneurship and Innovation Maribor PODIM, Maribor, 21st - 22nd March 2007. Maribor: Faculty of Economics and Business, Institute for Entrepreneurship and Small Business Management, 2007, str. 107-114. [COBISS.SI-ID 20668967]

  3. LESJAK, Iztok. Tehnološki parki - zaloga znanja in inovacijskih idej. V: PODOBNIK, Marta (ur.), ŠIP, Nataša (ur.), KOKELJ, Marija (ur.), ZUPANČIČ, Mihela. Posvet Odprti prostor evropskih malih in srednjih podjetij, 26. januar 2009, [Ljubljana]. Zbornik prispevkov. Ljubljana: Zavod Meta, 2009, str. 74-76. [COBISS.SI-ID 22862887]

  4. LESJAK, Iztok. Ot znanieto k''m umenieto. V: Inovaciite : Jervopejski, nacionalni i regionaljni politiki. Sofija: Fondacija "Priložni izsledovanja i komunikaciji", 2008, str. 569-580. [COBISS.SI-ID 22107431]

  5. LESJAK, Iztok. Spin-offs in the Ljubljana region. V: The Slovenian experience : best practice in the development of entrepreneurship and SMEs in countries in transition : [entrepreneurship and small and medium-sized enterprises]. Geneva: United Nations, Economic Commission for Europe; Ljubljana: Ministry of the Economy Slovenia, 2003, str. 42-47. [COBISS.SI-ID 17467431]

  6. LIKAR, Borut, LESJAK, Iztok, STRES, Špela, PLEŠKO, Mark. Pomen inovativnosti in inovativnih procesov v podjetništvu : prispevek na okrogli mizi Pomen inovativnosti in inovativnih procesov v podjetništvu ter predstavitev rezultatov temeljnega projekta Referenčni model inoviranja, Tehnološki park Ljubljana, 9. marec 2011. Ljubljana: Tehnološki park, 9. mar. 2011. [COBISS.SI-ID 3930071]

  7. TURK, Marta (ur.), KERIN, Andrej (ur.), VRHOVEC, Igor (ur.), LESJAK, Iztok (ur.). Izzivi gospodarskega razvoja : inovativnost v porečju Save : zbornik prireditve, Ljubljana, maj 2012. Ljubljana: Gospodarska zbornica Slovenije, 2012. ilustr. [COBISS.SI-ID 1501276]

  8. LESJAK, Iztok, OBER Kristina: Ljubljana: A Telent-Friendly City HUB, New business models for incubators in STPs, 30th IASP World Conference on Science and Technology Parks 2013, Recife Brazil, junij 2013.

  9. LESJAK, Iztok: “Technology park as the link between multinationals and SMEs« ,31st IASP World Conference 2014, 19-22.10.2014, Doha, Qatar

  10. LESJAK, Iztok, BOLE, Domen: Regional Collaborative Innovation Ecosystem: STPs as Enablers in Globally Oriented Regional Areas of Collaborative Innovation, 34th IASP World Conference in Istanbul, Turkey September 26th -29th , 2017. Page 121-134
  11. Lecturer at various events - subject: commercialization of knowledge and research results, among others for the Regional development agency of Ljubljana urban region within project Podjetno v svet podjetništva, specifically on business planning, market analysis, business idea development and verification

  12. Project: Western Balkans Proof of Concept Scheme (Ref.No: EuropeAid/140158/DH/SER/MULTI, Contract No: I.P.A./2019/412-593. Key expert to provide hands-on support in education, promotion, selection and support to 40+ promising technology-based projects from the WB6 countries at the TRL 3 - "Proof of Concept Stage" (16 universities and in some economies also enterprises) and move projects closer to the market. January 2021 – December 2022

  13. Project: “Ministry of Economy Luxembourg – Innovation campus” AA-010875/001 / CC13843. Key Expert 1, Team Leader (Category I) for the study on developing Luxemburg innovation campus (EU and worldwide best practices, Strategic and socioeconomic vision, Alternative financial options, Recommendations for Luxemburg innovation campus development, validation workshop). March 2022 – January 2023

  14. Project: Innovation and Training Park (ITP) Prizren (PN 70.3040.6-001.00) – GIZ project on the transformation of the former camp of the German contingent of the NATO-led peacekeeping Kosovo Force (KFOR) in Prizren into an innovation and training park (ITP Prizren). Development of business support services and initial backstopping. March-October 2022

  15. Slađana and Aleš KANDORFER, Iztok LESJAK "A new economy framework of the circular economy as a basis for the future social and production processes regulation and cohesion" III. International Scientific Conference "Transforming regional governance in a value-added environment." Moscow State Institute of International Relations (MGIMO), December 17-18, 2020, Pages 136-146