This module introduces entrepreneurship and corporate entrepreneurship. It covers startup definitions, key terminology, and the essential lexicon of the startup world. Students will also be provided an overview of innovative ecosystems, with a deep dive into Silicon Valley. Readings: Kerr, Sari Pekkala, William R. Kerr, and Tina Xu. "Personality traits of entrepreneurs: A review of recent literature." Foundations and trends in entrepreneurship 14.3 (2018): 279-356. Khosla, Arunachal, and Puneet Gupta. "Traits of successful entrepreneurs." The Journal of Private Equity (2017): 12-15. Kenney, Matthew, and Bahaudin G. Mujtaba. "Understanding corporate entrepreneurship and development: A practitioner view of organizational intrapreneurship." Journal of Applied Management and Entrepreneurship 12.3 (2007): 73-88. Amo, Bjorn Willy. "Corporate entrepreneurship and intrapreneurship related to innovation behaviour among employees." International Journal of Entrepreneurial Venturing 2.2 (2010): 144-158. https://mindthebridge.com/2023-policy-building-startup-ecosystem-stars/

During the second week of the course, students will further deepen their understanding of the Silicon Valley ecosystem through in-depth analyses and case studies of successful startups. The course will also provide an overview of the Italian and European startup ecosystems, alongside a comparative perspective on other major global hubs, including Israel and Asia. In addition, the week will focus on the development of key competencies for identifying business opportunities, with particular emphasis on ideation techniques and design thinking methodologies (es. Business model canvas). Murray, Alan, and Veronica Scuotto. "The business model canvas." Symphonya. Emerging Issues in Management (2015): 94-109.

During the third week, students will gain an in-depth understanding of the Lean Startup methodology, with particular emphasis on the Build–Measure–Learn cycle as a systematic approach to rapidly test, validate, or reject business ideas in real market conditions. The course will introduce practical tools for customer discovery, including techniques for gathering and analyzing user insights, as well as the development of a Minimum Viable Product (MVP) to support iterative experimentation. Additional topics will include the analysis of alternative business models, the formulation of effective go-to-market strategies, and key approaches to scalability, business development, and internationalization. Significant attention will also be devoted to team formation, focusing on the importance of complementary skills, as well as the identification of the key characteristics and roles of effective co-founders within startup ventures. Students will be asked to form founding groups to create their own startup. Ries, Eric. Lean startup.

During the fourth week, students will gain an in-depth understanding of the Lean Startup methodology, with particular emphasis on the Build–Measure–Learn cycle as a systematic approach to rapidly test, validate, or reject business ideas in real market conditions. The course will introduce practical tools for customer discovery, including techniques for gathering and analyzing user insights, as well as the development of a Minimum Viable Product (MVP) to support iterative experimentation. Additional topics will include the analysis of alternative business models, the formulation of effective go-to-market strategies, and key approaches to scalability, business development, and internationalization. Significant attention will also be devoted to team formation, focusing on the importance of complementary skills, as well as the identification of the key characteristics and roles of effective co-founders within startup ventures.

During the fifth week, the course will focus on consolidating students’ learning through a hands-on analysis of both successful startups and notable high-profile failures. This comparative approach will enable students to critically assess the key drivers of success and the common causes of failure within entrepreneurial ventures. The week will also feature a guest lecture by a startup founder, who will provide students with a first-hand perspective on the entrepreneurial journey, offering practical insights into the challenges, decision-making processes, and lessons learned in building a startup.

During the sixth week, the course will introduce the fundamental principles of entrepreneurial finance, with a focus on how startups raise funds throughout their lifecycle and the concept of “equity capital” will be explored. Students will develop an understanding of the structure and dynamics of funding rounds, including pre-seed, seed, and later-stage investments such as Series A and beyond. Also, the role of incubators, accelerators and venture building studios will be examined. The module will provide a comprehensive overview of the main sources of financing available to startups, including bootstrapping, business angels, venture capital, corporate venture capital and alternative instruments such as crowdfunding. In addition, the course will explore the basics of term sheet negotiation, introducing key clauses and mechanisms that regulate the relationship between founders and investors. Students will gain insight into venture capital dynamics and develop an understanding of how to effectively manage VC–founder relationships. Gompers, Paul, and Josh Lerner. 2001. "The Venture Capital Revolution." Journal of Economic Perspectives 15 (2): 145–168. Manigart, S. and Sapienza, H. (2017). Venture Capital and Growth. In The Blackwell Handbook Of Entrepreneurship (eds D.L. Sexton and H. Landström).

During the seventh week, the course will provide students with a comprehensive overview of the venture capital landscape, offering key data and insights to navigate the dynamics of global investment ecosystems. Particular attention will be devoted to comparing the characteristics of the Italian and European markets with those of more mature ecosystems, such as Silicon Valley, as well as other emerging global hubs. The module aims to develop students’ ability to understand how venture capital markets operate across different contexts, including investment trends, sectoral focus, and the role of institutional and private investors in fostering innovation. Also basics notions regarding how to redact a business plan, on termesheet clauses, captable math and valuation will be provided.

During the eight week, the course will provide a streamlined overview of the key legal and organizational aspects of startup creation. Students will examine the main types of legal entities and the criteria for selecting an appropriate corporate structure, with reference to the Italian context. Particular attention will be devoted to the fundamentals of intellectual property protection - patents, trademarks, and copyrights - as essential tools for safeguarding innovation. The module will also introduce the core regulatory frameworks relevant to startups in Italy and Europe, including the Italian Startup Act and selected EU-level initiatives supporting innovation and entrepreneurship. https://www.mimit.gov.it/it/impresa/competitivita-e-nuove-imprese/start-up-innovative/start-up-act-normativa

During the ninth week, the course will explore the main exit strategies available to startups, with a focus on initial public offerings (IPOs), acquisitions, and alternative exit options. The module will also examine how exits represent a critical stage in the startup lifecycle, shaping investor returns and long-term value creation, while providing insights into the factors that influence successful exit outcomes. Data and case studies will be shared in class.

The course will focus on the development of effective pitching skills, a critical component of entrepreneurial success. Students will learn how to structure and deliver a compelling startup pitch, clearly communicating their value proposition, business model, market opportunity, and growth strategy. The module will introduce the key elements of a successful pitch deck, including problem–solution fit, traction, financial projections, and team presentation. Emphasis will be placed on storytelling, clarity, and the ability to tailor the message to different audiences, particularly investors.

During the eleventh week, the course will focus on entrepreneurship in the field of artificial intelligence, analyzing how AI is reshaping startup creation across multiple industries, including energy, healthcare, finance, and consumer applications. The module will include in-depth case studies of leading AI startups and scale-ups, such as ChatGPT and Perplexity, examining their origins, technological foundations, product-market fit strategies, and rapid growth trajectories. Through these examples, students will gain insight into how AI-native companies are built, funded, and scaled within highly competitive and fast-evolving ecosystems.

The week will feature a guest lecture by a venture capital investor, providing students with direct exposure to industry practices and decision-making processes, as well as an opportunity to engage with real-world perspectives on startup evaluation and investment strategies. Students will be asked also to prepare a pitch to present their entrepreneurial idea to the investor.