TECHNOLOGY ENTREPRENEURSHIP

(2ND Semester, AY 2017-2018)

Instructor: Maria Sheila K. Ramos, Ph.D. ([email protected],
[email protected], [email protected])
Classroom: COE&T Amphi-Theater/MICEL Lab (video conference lecture)
Schedule: 9 A.M. – 12 Noon, Friday

Disclaimer: Most of the entries of this document are taken from Prof. Naeem Zafar of SCET, UC-
Berkeley Engineering especially on the course outline. Many entries are taken in toto. Some
modifications are done to some to suit the needs and current situation and be compatible with
the culture of the class.

Lectures in class are enriched by inputs of the Product Management, Finance for Startups, and
Challenge Lab Classes of Profs. Ken Sandy, Ken Singer and Rick Rasmussen respectively. Most of
all, there will be inputs from Silicon Valley and UC-Berkeley Engineering mentors that will truly
bring classroom experience to new heights even if coaching will be done virtually thru video
conference.

All class materials for the whole semester are shared in a google folder.
 Class-by-Class Syllabus

WEEK 1 : January 19 (Class Overview & Anatomy of a Startup & Myths of Business Plans)
Learning Objectives: What is a startup and the process of creating a venture from scratch? Understand
course objectives and key themes, consider reasons for creating a business plan, share business plan
assumptions and think about what makes a great business plan. Understand what is expected from
students & what should their final product look like.
Case to be Prepared: None (“Deodorant” case will be discussed in class)
Assignment 1: A ½ page description of ~5 business ideas about which you might want to create a startup
in the class with at least one co-founder listed (another student from the class) if already identified. (It
will be ideal to have formed a team of 4 or 5 persons)
Guest Presenter: None but a video on Dado Banatao will be shown
Oral Presentation: Be prepared in class to give a 1 minute “sales pitch” for your business plan ideas --4
to 5 people per team expected.

Week 2 : January 26 (Team Dynamics: Attracting Talent & Assembling Startup Teams)
Learning objective: Startup dynamics & politics within the founding team and how they influence the
growth of the business, and the key dos and don’ts of personnel issues in the early phase of a startup.
Managing and setting up global teams. Dividing equity among co-founders and using 3 currencies that an
entrepreneur has to attract talent.
Case to be Prepared: Vermeer Technologies (A) & (B)
Prep questions:
a) What qualifies a person to be considered a “founder”?
b) What type of resources must you gather for a startup? How did Vermeer do as a team?
c) Imagine you are Ferguson – will you accept the deal from the VC?
Guest Lecturer: none
Assignment: Your Major Takeaway from class discussion aside from what the head mentor pointed out
Assigned reading: none
Class Activity: the Buy & Sell Game

Week 3 : February 2 (Team Formation & Opportunity Identification & Assessment)

Learning Objectives: Think about how to screen entrepreneurial ideas and begin to create your own
opportunity screen.
Case to be Prepared: Veridicom A [Haas Business School case]
Questions to prepare:
a) What problem is Veridicom trying to solve?
b) Who are Veridicom’s customers & who needs them more?
c) If you were Tom Rowley, how will you set the strategic direction?
d) How are the team dynamics here as a startup team?
Assigned reading: Market Research on a Shoestring! Read Section 1 (Chapters 1- 4)
Class activity: the Communication Game
finalize team formation & initial ideas [Break-out sections]
Guest Lecturer: Regina Manzana-Sawhney, Program Manager for Corporate Engineering, Google and
PhilDev Trustee
Written Assignments: (1) for every student in class: Upload your main take-away from the last class [2-5
bullets] AND research and (2) upload details about one startup that got funded last week [what they do,
who funded them? How much did they receive? What stage is this company at?]
Plan Related: Be prepared in class to give a 1-minute pitch for your business plan idea (to finalize your
team composition).
Teams Finalized & Receive Green Lights from instructor

Week 4 : February 9 (Conducting Market Research & Discovering 5 Critical Metrics)

Learning Objectives: To understand how to apply, adapt and interpret classic market research techniques
towards entrepreneurial business ventures. What assumptions to make and how to ask the questions to
get the data that you need. What are ½ a dozen key metrics that all startups are built on (CAC, LTV, Churn,
Market size etc.)
Case to be Prepared: none (will use student’s market research plans for discussion)
Class activities: Conducting Interview Workshop
break out in sections with mentors & refine ideas, market research techniques
Guest Lecturer: Dado Banatao, Technology Innovator and Venture Capitalist the Bill Gates of the
Philippines.
Assigned reading: Market Research on a Shoestring! Section 2 (chapters 5-9)
Deliverable: At the start of class, hand-in your final team roster and the (hopefully) approved concept for
your business plan (one hand-in per team).

Week 5 : February 16 (Positioning & Customer Value Proposition)

Learning Objectives: Learn why and how you must establish customer value proposition and then chose
channel and execution plan to deliver that value.
Guest Lecturer: Ken Singer, Faculty and Managing Director, SCET, UC-Berkeley Engineering
Case: Virgin Mobile USA [Harvard case 9-504-028]
Case questions to prep:
a) What segment should Virgin Mobile target in a crowded space?
b) How can you differentiate your offerings?
c) What are the risks that you must mitigate for the target segment?
Assigned reading: Market Research on a Shoestring! Section 3 (chapters 10-13)
Class Activity: Interview Workshop

Week 6 : February 23 (Understanding Sources of capital)

Learning Objectives: Who are investors, how do they make money and what happens to founders and
their equity. Angels vs VCs and Crowd-funding option
Case to be Prepared: Get Funded, Chapter 2, 3 & 4 (VC Model and Approaching Investors)
Guest speaker: Prof. Ken Sandy, Product Management Expert, SCET Faculty and Industry Partner, UC-
Berkeley Engineering
Class Activity: Gate 1
Business Plan Deliverable: First draft of the Executive Summary (1-3-page WORD document)
Gate 1 Class Activity: For the second half of the class, there will be breakout sessions to permit the groups
to present to the mentors and instructors their business plan opportunity. Each team will present their
business idea, market research and customer discovery results in a 5 to 6-minute PowerPoint
presentation.

Week 7 : March 2 (Business Models, Revenue Models & Market Size)

Learning Objectives: To understand various startup business models, the key lessons in business models,
and how to size a market. Sizing your market and weighing various business models and their pros and
cons.
Case to be Prepared: Golf Logix [Harvard case 9-503-004]
Questions to prep:
a) what should Golf Logix do?
b) Should Golf Logix even offer the Complete System? Why?
c) How does the channel choice affect long term differentiation?
Assigned reading: Get Funded, Chapter 7 (12-Step process of getting funded)
Deliverable: 2 Year hiring plan for your company & estimated HR budget
Guest speaker: Prof. Naeem Zafar, serial entrepreneur, SCET Faculty and Industry Partner, UC-
Berkeley Engineering

Week 8 : March 9 (Go-to-Market Strategies, Marketing & Sales)

Learning Objectives: How to think about creating a brand, manage channels and decide how to bring a
product to market. How has the Internet changed the landscape for product launch? How does one build
a sales organization?
Assigned reading: Get Funded, Chapter 5 (Getting Investor-Ready)
Case: Zoosk; pivoting to win the dating game HBS: B57768-PDF-ENG
Guest speaker: Gigi Wang, Chair & Director, Berkeley StartUp Bootcamps & Collider Workshops
Deliverable: Research comparable public companies in your space and outline what percent of
revenue do they spend on (a) R&D, (b) sales and marketing, (c) G&A, their gross profit and net income as
a % of their revenue.

Week 9 : March 16 (Cont. of G2M & Sales Lectures)

Guest speaker: Kathryn Kranen, ex-CEO of Jasper Design Automation

WEEK 10 : March 23 (Financial Modeling & Estimating Financial Needs)

Learning Objectives: How to communicate effectively? How to present to investors. & How to build a
financial model – estimating how much do you need?
Format A few teams will be randomly selected to present their partnership strategy while the rest will be
the judge & provide feedback
Case to be Prepared: Elite Personal Training (Ivey case no: 907NO5)
Questions to prep:
a) Who should Menard & Craciun target & at what price point?
b) How much should they allocate as the startup capital?
c) how much will it take to run this business? Make a 2-year budget
d) does it make sense to build the 3rd gym?
Assignment: 1. Discussion on the G2M of your Team’s Company including the Market size
2. Reflections on ZOOSK pivot and on Kathryn Kranen’s Lecture

WEEK 11 : March 30 : NO CLASS …. GOOD FRIDAY

BUT SUBMIT THE ASSIGNMENT ON P&L
Assignment: P & L of your proposed company
PREPARE FOR GATE 2 PRESENTATION ON APRIL 6, 2018

WEEK 12 : APRIL 6 (Gate 2 & VC Pitching)

Learning Objective: Understand how VCs view entrepreneurs & how the process of seeking investment
works. How to compare term sheets and what is important regarding getting funded.
Guest Speaker: Prof. Rick Rasmussen, Director for Startup Programs, SCET, UC-Berkeley Engineering
Assigned Reading: Get Funded, Chapter 8 (Funding process & term sheets)
Assigned Viewing: YouTube Sales Force Pitching Competition
Deliverable: Sales & marketing plan (1-3-page WORD document)
Gate 2 Class Activity for the 2nd half of the class, there will be breakout sessions. All groups will present
the sales and marketing plan for their project and solicit peer feedback. They will work with the mentors
to fine-tune.

WEEK 13 : April 13 (Partnerships, IP & Legal Issues for Startups & Understanding VC model)
Learning Objectives: Understand how IP should be protected and what legal issues surround startups.
Understanding basic legal structure and aligning the agendas of the founders and investors. How does
one think about creating meaningful partnerships?
Format A few teams will be randomly selected to present their partnership strategy while the rest will be
the judge & provide feedback
Assigned reading: Get Funded, Chapter 6 (Approaching Investors)
Deliverable: create your partnership strategy plan – who would you ideally like to partner with and why
[3 slides, teams will be randomly called to present their partnership plan]
Case to be prepared none
Assigned Reading: “Legal forms of organizations”, M. Roberts, HBS 9-898-245
Guest speaker: (none)

WEEK 14 : April 2 (Analyzing Term Sheets & negotiating with investors)

Learning Objective: What is dilution & how does it work. How does one negotiate with investors?
Basics of the term sheets. Understand how VCs view entrepreneurs & how the process of seeking
investment works. How to compare term sheets and what is important regarding getting funded. Funding
ecosystem – accelerators, angels, VCs, strategic, Grants
Case to be prepared: none
Assigned Reading: “How Venture Capital Works” HBS Reprint 98611 (December 1998)
Guest speaker: Faraz Hoodbhoy, accomplished entrepreneur & now a Fortune 10 company executive
Founder, Pix Sense, Director of Outreach, Ecosystem & Innovation at AT&T
Assigned Reading: Get Funded, chapter 8 (Funding process & term sheets)
Deliverable: Generate revenue projections for your startup for the first 5 years. State your assumptions.
Financial section of the business plan- 1-pager on 5-year P&L statement

WEEK 15 : April 27 (Cont. Analyzing Term Sheets & negotiating with investors)
Guest Speakers: Hulya Koc, globally accredited investor, serial entrepreneur and mentor to
American and international entrepreneurs with 40 years of experience.

Howard Lee, Co-Founder and Managing Director at Founders Equity Partners, a

venture investment firm focused on both early stage and secondary opportunities
Class Activity: Review key metrics of financial plan for each team
Each team will list these numbers on the board:
1) Revenue for year 1, 3 & 5
2) Market size
3) % of revenue spent in year 5 on S&M, R&D, G&A
4) Amount being raised from investors
5) How long this money will last?
Deliverable: Financial section of the business plan- 1-pager on 5-year P&L statement
Include Yearly revenue, COGS, Gross Profit, costs by Dept. and net income. Must also include % of revenue
column for Year 5
Class Exercise: All teams present first 5 minutes of their VC presentation and seek feedback from
instructors and peers– feedback from VC on what they like to see and not see from entrepreneurs

WEEK 16 : May 4 (FINAL WEEK – Part 1)

Summary of the Entrepreneurial Process + Life as an entrepreneur
FINAL PITCHING DAY PART 1 (Groups 1 – 7)
Learning Objectives: Real world lessons from a life in entrepreneurship are shared by mentors &
instructor. Teaching team members share their own experiences and give advice to the students. How
can you apply the learning in this course to being entrepreneurial at work? How do you when to pull the
trigger?
Assigned reading: The Questions Every Entrepreneur Must Answer (HBS: Bhide)
Keynote Speaker: Prof. Ikhlaq Sidhu, Ph.D., Chief Scientist, Director & Founder, SCET UC-Berkeley
Engineering (Mentor point of view)

WEEK 17 : May 8 (FINAL WEEK – Part 2)

Summary of the Entrepreneurial Process + Life as an entrepreneur
FINAL PITCHING DAY PART 2 (Groups 8 – 14)
Business plan presentation to panel of investors
Keynote Speaker: Jessica Mah, CEO & Founder In-Dinero
(Mentee point of view)