| Course Objectives: |
Startups play a very important role in supporting innovation in an economy due to their dynamic structures. In today's business world, creating and supporting a dynamic startup ecosystem is of great importance for economic development and growth. Universities make significant contributions to the startup ecosystem through university-industry collaboration, academic research, and education. From this perspective, this course will enable students to comprehensively learn about startups, their financing methods, and the ecosystem within a local and international context. |
| Course Content: |
The course is designed to introduce students to startups and their financing methods in local and international contexts. To achieve the learning objectives, there will be lectures, relevant videos, and readings. Guest speakers from the startup ecosystem will create an opportunity for students to connect with the industry and understand the real-life environment. The course will also include projects and the analysis of real-life cases. In short, this course aims to provide a balanced examination of theory and practice related to its subject matter |
Course Learning Outcomes (CLOs) are those describing the knowledge, skills and competencies that students are expected to achieve upon successful completion of the course. In this context, Course Learning Outcomes defined for this course unit are as follows:
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| Knowledge
(Described as Theoritical and/or Factual Knowledge.)
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1) Differentiate between traditional corporate finance and startup finance, identifying unique challenges (e.g., high burn rate, rapid growth). * Define and explain the basic financial statements (Income Statement, Balance Sheet, Cash Flow Statement) in the context of a new venture. * Understand core accounting concepts like accrual vs. cash basis.
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2) Construct a basic three-statement financial model from scratch using a spreadsheet. * Identify and model key business drivers (e.g., customer acquisition cost, churn rate, pricing) that impact a startup's financial performance
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3) Develop robust revenue projection methodologies (e.g., bottom-up, top-down) appropriate for an early-stage company. * Forecast critical operational expenses, including Cost of Goods Sold (COGS) and Operating Expenses (OpEx), distinguishing between fixed and variable costs.
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4) Calculate and interpret fundamental startup metrics like Customer Acquisition Cost (CAC), Lifetime Value (LTV), and the LTV:CAC ratio. * Analyze and optimize a startup's unit economics to ensure long-term profitability and scalability.
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5) Create a detailed cash budget and cash flow forecast to anticipate funding needs. * Calculate and monitor a startup's Net Burn Rate and Runway, and propose strategies to extend the runway. * Analyze and mitigate risks associated with cash flow volatility.
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6) Explain the limitations of traditional valuation methods (e.g., DCF) for early-stage startups. * Apply and critique common early-stage valuation methods (e.g., Berkus Method, Scorecard Method, Venture Capital Method
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7) Understand the concept of equity dilution and its impact on founders and investors over multiple funding rounds. * Construct and interpret a basic Capitalization Table (Cap Table), showing ownership percentages and valuations pre- and post-money
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8) Midterm
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9) Outline the stages of the fundraising process, from Seed to Series A/B and beyond. * Develop a compelling investor deck that effectively communicates the startup's financial story and traction.
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10) Analyze the key terms within a Venture Capital (VC) term sheet, focusing on valuation, liquidation preferences, and protective provisions. * Evaluate the implications of different anti-dilution clauses and vesting schedules
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11) Prepare a startup for financial due diligence by organizing key documents and financial models. * Manage ongoing investor relations, including timely and transparent financial reporting.
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12) Analyze and model potential exit scenarios (e.g., acquisition, IPO) and their financial implications for shareholders. * Summarize the role of the founder/CFO in establishing financial controls, governance, and a long-term financial strategy for scale.
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13) Wrap-up session
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14) Final exam
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| Skills
(Describe as Cognitive and/or Practical Skills.)
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| Competences
(Described as "Ability of the learner to apply knowledge and skills autonomously with responsibility", "Learning to learn"," Communication and social" and "Field specific" competences.)
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Programme Learning Outcomes |
Contribution Level (from 1 to 5) |
| 1) |
Explains the fundamental and theoretical knowledge required for business management. |
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| 2) |
Approaches problems encountered in the field of business administration with an analytical mindset and produces solutions. |
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| 3) |
Develops problem-solving and decision-making abilities through individual and team work. |
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| 4) |
Demonstrates the ability to manage employees and processes in a dynamic business environment. |
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| 5) |
Acquires the skill of writing a thesis that contributes to the field by examining a current problem in business administration from a scientific perspective. |
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| 6) |
Evaluates existing norms and standards in tasks undertaken with a critical perspective, and develops innovative and entrepreneurial ideas. |
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| 7) |
Enhances professional-level competencies beyond undergraduate qualifications in accordance with the expectations of the business world and society, as well as the institutional outcomes defined by our university, and applies them in professional or academic life. |
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| 8) |
Possesses cultural awareness and conveys it to groups both within and outside the field. |
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| WORKLOAD OF TEACHING & LEARNING ACTIVITIES |
| Teaching & Learning Activities |
# of Activities per semester |
Duration (hour) |
Total Workload |
| Course |
0 |
0 |
0 |
| Laboratory |
0 |
0 |
0 |
| Application |
0 |
0 |
0 |
| Special Course Internship (Work Placement) |
0 |
0 |
0 |
| Field Work |
0 |
0 |
0 |
| Study Hours Out of Class |
0 |
0 |
0 |
| Presentations / Seminar |
0 |
0 |
0 |
| Project |
0 |
0 |
0 |
| Homework Assignments |
2 |
8 |
16 |
| Total Workload of Teaching & Learning Activities |
- |
- |
16 |
| WORKLOAD OF ASSESMENT & EVALUATION ACTIVITIES |
| Assesment & Evaluation Activities |
# of Activities per semester |
Duration (hour) |
Total Workload |
| Quizzes |
0 |
0 |
0 |
| Midterms |
1 |
15 |
15 |
| Semester Final Exam |
1 |
30 |
30 |
| Total Workload of Assesment & Evaluation Activities |
- |
- |
45 |
| TOTAL WORKLOAD (Teaching & Learning + Assesment & Evaluation Activities) |
61 |
| ECTS CREDITS OF THE COURSE (Total Workload/25.5 h) |
6 |
ECTS Information Package / Course Catalogue
