Financing New Ventures 2600-DSMz3zmpFNP
The course includes an analysis of financing sources for new business ventures, with particular emphasis on the financing gap problem, the hierarchy of financing sources, and the matching of financial instruments to the stage of venture development. The classes discuss equity and debt sources, repayable and non-repayable financing, as well as practical aspects of obtaining finance. Traditional instruments such as loans, leasing and factoring are analysed, together with non-standard solutions including non-bank financing, sureties and guarantees, seed capital, mezzanine financing and crowdfunding. The course also includes examples of repayable financial support programmes for new ventures.
Type of course
Mode
Learning outcomes
Upon completion of the course, the student:
In terms of knowledge:
• has knowledge and understanding of the principles governing traditional and non-conventional sources of financing for new ventures, including equity and debt sources, repayable and non-repayable financing, and public and market support instruments (S1_W02);
• has advanced knowledge and understanding of the economic and organisational premises of financing decisions concerning new ventures and their consequences for enterprise development (S1_W03),
• Has knowledge of technological, social, economic and legal processes, including the financing gap and their impact on the functioning and development of new ventures (S1_W05) ,
• Has knowledge of the principles of intellectual property protection and copyright in the context of financing and developing new ventures (S1_W06).
In terms of skills:
• is able to identify, select and assess sources of financing appropriate to the specific characteristics, development needs and stage of development of a new venture, using relevant sources of information and analytical criteria (S1_U01);
• Can develop their competencies and engage in self-directed learning in the field of financing new business ventures (S1_U07).
In terms of social competences:
• is ready to critically assess available sources of financing and the conditions of their use from the perspective of the development needs of a new venture and financial risk (S1_K01),
• Is ready to think and act in an entrepreneurial manner when selecting and acquiring sources of financing (S1_K04),
• is ready to make responsible and ethical decisions related to acquiring and using capital in business activity (S1_K05).
Assessment criteria
Assessment is based on a final written test consisting of multiple-choice questions and 2 problem-solving tasks.
Bibliography
Core reading:
• Grzywacz, J. (2016), Sources of Financing for Enterprises’ Development Activity in Poland, SGH Publishing House.
• Dutta, S., Casanova, L., Cornelius, P. (2017), Financing Entrepreneurship and Innovation in Emerging Markets, Academic Press.
• Rutkowski, A. (2016), Financial Management, PWE.
• Daily, J.E., Kieff, F.S., Arthur, E. (eds.) (2014), Perspectives on Financing Innovation.
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Term 2025L:
• Grzywacz J. (2016), Źródła finansowania działalności rozwojowej przedsiębiorstw w Polsce, Oficyna Wydawnicza SGH. |