POST GRADUATE PROGRAMME IN MANAGEMENT

AY 2021-22 TERM: V

TITLE OF THE ELECTIVE/WORKSHOP: BEFORE YOU START-UP

CREDITS: 4 NO. OF SECTIONS: 2

Name of the Faculty Faculty Email Telephone

Block/ Number
Room No.
Prof. Sachidananda B S C-109 sachidanandab@iimidr.ac.in 409

CONSULTATION TIME FOR STUDENTS

Name of the Faculty Timing
Prof. Sachidananda B S By Appointment

COURSE DESCRIPTION

India has one of the fastest growing entrepreneurial ecosystems in the world. Cities like
Bangalore, Mumbai, NCR and Hyderabad have already gotten noticed for their emerging
entrepreneurial ecosystems and are providing stiff competition to the global ecosystem. Given the
growing prominence of entrepreneurship, it is very likely you have caught or would catch the
entrepreneurship bug sometime in the near future.

This course is designed to provide you a basic understanding of how to go about the venture
creation process beginning with your idea. It focuses on familiarizing you with the application of
certain frameworks and tools that could increase the odds of your success when applied.
COURSE OBJECTIVES

At the end of the course, the course student is expected to:

1. Develop an understanding of the entrepreneurial ecosystem and the players there in

2. Develop and structure their venture idea using available tools
3. Demystify the approaches that could be used to build their venture idea.
4. Develop a simplified understanding of the corporate entrepreneurship challenges

PEDAGOGY/TEACHING METHOD:

The course would be taught using a mix of lecture, video presentations, cases discussion, in-class
exercises, and take home assignments
PRE-REQUISITE FOR COURSE, IF ANY: NONE

IF DOUBLE SECTION, ATTENDANCE IN SISTER SECTION: ALLOWED

EVALUATION

Individual Component Group Component Weightage

Class Participation 30
Take home Assignment- 40
1. Submission on Ecosystems† or,
2. Analysis of an existing start-up† or,
3. Developing venture idea†
Quizzes‡ (2) 30
Total 100%
† Written assignments ‡ Each quiz carries equal weightage

Details of Assignments:
1. Students to trace the development of any single component of the entrepreneurial ecosystem, and
submit a 3000 word report with the corresponding references.
2. Students to analyse a star-up using any of the canvases familiarized in the course, and also
highlight the approach the startup adopted to grow from idea.
3. Students to develop their own idea, present it using the appropriate canvases, and also highlight
their assumptions, hypothesis etc, and experiments to validate them.

ACADEMIC DISHONESTY
IIM Indore believes in Academic honesty. Academic dishonesty or misconduct is cheating that
relates to an academic activity. It is a violation of trust between the Institute and its stakeholders.
Plagiarism, fabrication, deception, cheating and sabotage are examples of unacceptable academic
conduct. Please consult the Programme manual for the section on academic dishonesty.

SCHEDULE OF SESSIONS

Module I : Context of de novo entrepreneurial activity

Module Objective: To understand the context of venture development. The role of ecosystem in
which entrepreneurs operate. How would a corporate setting vary from the creation of de novo
venture?
Session 1 De-novo ventures and the Entrepreneurial Ecosystem
Objective: To develop an understanding of the entrepreneurial ecosystem is necessary
independent ventures. What and who form part of the ecosystem? What are
the critical factors that drive the emergence of entrepreneurial activity?
Reading:  Colin, N. (2016, July 29). What Makes an Entrepreneurial Ecosystem? Medium.
https://salon.thefamily.co/what-makes-an-entrepreneurial-ecosystem-
815f4e049804
 Benegal S. (2021) - The Entrepreneurial Ecosystem
Case: Nil

Session 2 Ecosystem Actors and their roles

Objective: To develop familiarity of how some of the actors in the ecosystem act and
interact to enable the formation of an entrepreneurial ecosystem.
Reading:  Benegal S. (2020) - The Indian Incubator story
 Gupta N. & Benegal S. (2021) – An introduction to Venture Capital
Case: Nil

Module II Detailing out - What to do?

Module Objective: This module intends to help participants structure their thoughts (the venture
idea) to highlight and address potential challenges in the venture they intend to build.

Session 3 Idea and Opportunity

Objective: To develop an understanding of - What is an entrepreneurial idea? What are
the different ways of generating an idea? What biases enter into the ideation
process?
Reading: Nil
Case: Nil

Session 4 & 5 Modelling your Idea - Business Models

Objective: To structure a venture idea using the Business Model canvas. Develop an
understanding of the structuring process grounds up. Represent the venture
idea using the business model canvas, and its use to make relevant startup
choices.
Reading:  Jeffries, I. (2020, September 8) How To Fill In A Business Model Canvas. Isaac
Jeffries. Retrieved September 19, 2020, from
https://isaacjeffries.com/blog/2018/9/8/how-to-fill-in-a-business-model-canvas
 Jeffries, I. (2020, Febuary 27) How To Fill In A Value Proposition Canvas. Isaac
Jeffries. Retrieved September 19, 2020, from
https://isaacjeffries.com/blog/2018/2/27/how-to-fill-in-a-value-proposition-
canvas
Case: Nil

Session 6 Other Canvases to Work on your Idea

Objective: To develop familiarity with other common canvases, and representing the
venture idea using canvases.
Reading: Nil
Case: Nil

Module III How to do?

Module Objective: Students are expected to develop an understanding of two dominant ways to
go about building their venture. Also understand the underlying differences in the two approached
to apply them in tandem.

Session 7 & 8 The Lean Start-up Methodology

Objective: To develop familiarity with the principles of lean start-up. Understanding
the concepts of MVP, Pivot, Optimize.
Reading: Eisenmann, T. R., Ries, E., & Dillard, S. (2012). Hypothesis-driven
entrepreneurship: The lean startup., (812-095).
Case: Eisenmann, T. R., & Winig, L. (2011). Rent the Runway. – (812-077)

Session 9 & 10 Effectuation

Objective: To develop familiarity with non-predictive control mechanism –
effectuation. Understand the principles of effectuation. Compare and
contrast with the Lean start-up methodology.
Reading: Sarasvathy, S. D.(2006) The Entrepreneurial Method : How Expert Entrepreneurs
Create New Markets (UV0890)
Case: Sarasvathy, S. D., & Aronsson, M. (2010). Cold Opportunity (A): The Nils
Bergqvist Story. (UV2032)

Session 11 & 12 Using Lean and Effectuation in Tandem

Objective: To develop an understanding of how the two approaches – lean and
effectuation could be employed in tandem to aid venture growth.
Reading: Nil
Case: Benegal S. (2021): Just Books (A), (B) and (C).

Session 13 Bootstrapping
Objective: To develop and understanding of the concept of Bootstrapping and its
application via examples in the financing of startups at early stages.
Reading: Bhide A.(1992). Bootstrap Finance: The Art of Startups. (92601)
Case: Nil

Module II The Corporate Context for Entrepreneurship

Module Objective: This module intends to help participants structure their thoughts (the venture
idea) to highlight and address potential challenges in the venture they intend to build.
Session 14 Entrepreneurial Projects in Corporate Context
Objective: To develop an understanding of how entrepreneurial activity in corporate
project. Understanding the challenges that could lead to failure of the project.
Reading: Nil
Case: Christensen, C. M. (2006). Hewlett-Packard: The Flight of the Kittyhawk (A).

Session 15 Modes of Corporate Venturing

Objective: To familiarize with different modes that corporates use to create new ventures
like –
 internal venturing process,
 venture capital model, and
 startup accelerator models
Reading: Lerner, J. (2013). Corporate Venturing; Harvard Business Review
Case: Nil

Session 16 Corporate-Startup Partnerships

Objective: To understand the challenges and mechanisms of small firm-large firm
dynamics when attempting to work with each other.
Reading: Prashantham, S., & Birkinshaw, J. (2008). Dancing with gorillas: How small
companies can partner effectively with MNCs. California management
review, 51(1), 6-23. (CMR408-PDF-ENG)
Case:

Module II The context of Social Entrepreneurship

Module Objective: This module examines social entrepreneurship using the business model lens
and explores some of the issues of hybridization that social enterprises create.

Session 17 Business Models for Social Enterprises

Objective: To familiarize with the business model aspects of social enterprises that are
aimed at achieving some of the sustainability goals
Reading: Seelos C. & Mair J.(2005). Social Entrepreneurship: Creating New Business
Models to Serve the Poor. (BH-135)
Case: Nil

Session 18 Hybridization
Objective: To develop familiarity with the concept of hybridization and its associated
challenges in implementation by social enterprises.
Reading: Nil
Case: Khanna T.& KasturiRangan V. (2011). Narayana Hrudayalaya Heart
Hospital: Cardiac Care for the Poor (A). (9-505-078)

Module II Growth, Equity and Exit

Module Objective: This module takes the course to a logical conclusion with introduction of some
of the challenges of growth and the use of equity as an instrument to create, capture and distribute
value.
Session 19 Growth & Exit
Objective: To familiarize with the various challenges that growth gets along, the
evolution of an entrepreneurs’ perspective and exit related dilemmas.
Reading: Nil
Case: Shalman W. A. (2010). RightNow Technologies. (9-805-032)

Session 20 Understanding Equity

Objective: To develop familiarity with equity as a tool to form partnerships in the venture
building process. Identifying biases in the process of distributing equity.
Reading: Sarasvathy S. D (2011). Ownership, Control and the Role of Equity in New Ventures
– (UVA-ENT)

Text Book for the course: Please give the details of the book if students need to buy the book
Author Title Publisher Edition Remarks, if any

Reference Text Book: The following books are recommended for supplementary reading:
1.
2.

Additional Readings:
 Maurya, A. (2012). Running lean: iterate from plan A to a plan that works. " O'Reilly
Media, Inc.".
 Moore, G. A. (2014). Crossing the chasm. Harper business.
 Ries, E. (2011). The lean startup: How today's entrepreneurs use continuous innovation to
create radically successful businesses. Currency.
 Senor, D., & Singer, S. (2011). Start-up nation: The story of Israel's economic miracle.
Random House Digital, Inc..
 Thiel, P. A., & Masters, B. (2014). Zero to one: Notes on startups, or how to build the
future. Currency.
 Wasserman, N. (2008). The founder’s dilemma. Harvard business review, 86(2), 102-109.
 Packard, D., Kirby, D., & Lewis, K. R. (1995). The HP way: How Bill Hewlett and I built
our company. New York: Harper Business.
 Raz, G. (2020). How I Built This: The Unexpected Paths to Success. Macmillan.
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