JOHN CABOT UNIVERSITY

COURSE CODE: "FIN 335"
COURSE NAME: "Entrepreneurial Finance"
SEMESTER & YEAR: Spring 2025

SYLLABUS

INSTRUCTOR: Silvia Pulino
EMAIL: [email protected]
HOURS: TTH 11:30 AM 12:45 PM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Recommended: FIN 301 for Business, International Business, and Economics
OFFICE HOURS: By appointment

COURSE DESCRIPTION:
Entrepreneurial activity is a powerful engine for growth in today’s economy. The financial issues confronting entrepreneurial firms are drastically different from those faced by established companies; this course is designed to address those unique financial issues and develop a set of skills appropriate for such situations. The course will be articulated in three main parts: 1) investment analysis – understanding sources of value, reading financial statements and using pro-forma models in the context of acquisitions; 2) financing the entrepreneurial firm – various sources of capital, including seed and angel financing, crowdfunding, venture capital and strategic alliances; 3) harvesting – investment exit strategies including IPOs and acquisition by a third party.

NOTE: the course is opened to all students interested in entrepreneurship. While some prior knowledge of finance will be helpful, the basic concepts will be covered in the course.

SUMMARY OF COURSE CONTENT:

The course will be articulated in three main parts: 1) Investment Analysis – understanding sources of value, reading financial statements and using pro-forma models in the context of acquisitions. 2) Financing the Entrepreneurial Firm – various sources of capital from angel financing to strategic alliances. 3) Harvesting – investment exit strategies including IPOs and acquisition by a third party.

LEARNING OUTCOMES:

At the end of the course students will be able to:

- Determine which financial factors that affect entrepreneurial firms at various stages of development

- Value early stage businesses and assess their funding requirements

- Identify and select appropriate sources of finance according to the various stages of the entrepreneurial firm

- Structure a financial contract so as to manage risk and align incentives

- Apply analytical tools such as financial analysis, pro-forma modelling, capital budgeting, valuation methods, negotiation and deal structuring

- Identify the problems faced by entrepreneurial firms, and quantify the impact that present-day financial decisions may have on the available range of future choices

- Choose appropriate ways for an entrepreneur to “harvest” success and value, understanding the advantages and disadvantages of each

- Take into account the possible motivations, objectives and considerations of all stakeholders

TEXTBOOK:

NONE

REQUIRED RESERVED READING:

NONE

RECOMMENDED RESERVED READING:

NONE

GRADING POLICY
-ASSESSMENT METHODS:

Assignment	Guidelines	Weight
Preparation	Based on percentage of completion on home assignments (quizzes, short papers, readings, etc.)	10%
Class Participation	Based on the quality and frequency of contribution to class discussion.	20%
Elevator Pitch Competition	Students will take part in a university-wide new venture pitching competition, assessed on presentation, feasibility, business model, originality.	5%
Bloomberg Certification	Students are required to complete the self-paced Bloomberg Certification.	5%
Comprehensive Case Analysis and Presentation	Students will work in groups on an assigned case that will enable them to apply the concepts learned in class, relating them to a real-world situation. The assessment will be based on the depth of the analysis, mastery of the topics covered, and presentation of recommendations.	40%
Final Exam	Students will take a comprehensive, multiple choice final exam (60'). The exam will be followed by a debriefing session with the instructor (30'). Students will then have 60') to write a reflection paper on their performance on the test.	20%

-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.

-ATTENDANCE REQUIREMENTS:

Students are expected to come to class and arrive on time. Perfect attendance will be rewarded with a bonus of 5 percentage points, while TWO unexcused absences or less will result in a bonus of 3 percentage points. The only excused absences are those justified by the Dean’s Office; absences in the first week are not counted.

ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.

STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

INDICATIVE SCHEDULE

CLASS	SECTION / Topic
1	I. OPPORTUNITY EVALUATION and BUSINESS MODELING ANALYSIS People, Opportunity, Context, and Deal Analysis
2	Understanding the Sources of Value
3	Business Model Analysisin Entrepreneurship
4	evaluating Opportunity
5	II. SHAPING BUSINESS PLANS Review of financial statements and financial statement analysis
6	Business Plan Evaluation
7	Financial Projections
8	Financial Statements Test
9	Adapting the Business Plan in Response to Market Feedback
10	III. VALUATION METHODS Overview of valuation methods
11	DCF Valuation.
12	CCF and VC Valuation Methods
13	SPEAKER
14	Seed financing and Convertible Notes
15	Assessing the Financial Need
16	Elevator Pitch Workshop
17	SPEAKER
18	III. FINANCING THE FIRM Sources of Funds in the Entrepreneurial Journey
19	Venture Capital and VC Term Sheets
20	Structuring the Venture
21	SPEAKER
22	SPEAKER
23	Recap case
24	IV. HARVESTING The IPO Process
25	Strategic Alliances
26	Comprehensive Case
27	Comprehensive Case (continued)
28	REVIEW
	FINAL EXAM