Foundations of Entrepreneurship Course Prepared and presented by Ralph Khairallah

Overview The closest classroom experience to actual value creation in the marketplace It starts by introducing students to the concept of entrepreneurship and then requires students to form interdisciplinary teams before building and testing their ideas Created during the Summer of 2016 Offered for the first time during the Fall of 2017 When I was summoned to work on this course, I was briefed that this is to increase the pipeline of entrepreneurs from all faculties.

RALPH Khairallah 2001 2002 2005 2009 2010 2012 2015 2016

Why? Circular 331& Lebanese ecosystem Mission statement of USEK & FOB Importance of interfaculty collaboration Past experience: As Faculty of Business, we offer a Business Plan Methodology (BUS303) course All students were from the same background (business administration) Created a limitation on the team since they lacked the technical skills to create technologies and products described in their business plans. Just like the real world outside the university, students need to collaborate together and try to adopt a holistic approach towards solving problems leading to innovations and financial success in the marketplace.

The spark The Foundations of Entrepreneurship course is the start of something bigger – the creation of a Center for Entrepreneurship in USEK With the establishment of the Asher Center for Innovation and Entrepreneurship (ACIE) on campus, the aim is to spread a culture of entrepreneurship across all faculties in USEK

Journey from idea to Business Entrepreneurship Startup Ecosystem Business Model Getting out of the Building Testing and Iterating Ralph Khairallah - USEK

Supplying the pipeline & Participating in the ecosystem

Content: Entrepreneurial Tools Topic 1 Intro and discussions about entrepreneurship Start thinking of an idea Topic 2- Disruption & Creativity Topic 3- Ideation Workshop & Elevator Pitches Topic 4- Start-up Teams Topic 5- Startup Ecosystem Topic 6- Life Cycle of a Startup Topic 7- Financial Topic 8- Lean Startup Methodology Topic 9- Business Model Canvas Topic 10- Details on how to build a BM canvas Topic 11- Build your own canvas Topic 12- Test you BM Canvas and MVP Topic 13- Incorporate Learnings into BM Canvas Topic 14- Learn how to pitch Topic 15- Prepare your pitch deck Topic 16- Speaker Topic 17- Demo Day Ralph Khairallah - USEK

Form: Experiential learning In terms of form, this course is innovative due to its reliance on “experiential learning” as a mode of delivery of content. Students are required to ideate and come up with real life solutions that can work in the marketplace, then they are asked to test their ideas in the market using the lean startup methodology which is rooted in experiential learning as a way to improving product development. Ralph Khairallah - USEK

METHODOLOGY (Agreement) Instructor Student Make the course as interactive and relevant as possible. 3 more things: Make the course relevant and interesting. Interest in students’ individual concerns. Help students and guide them to create a successful business plan. Consider class sessions as business meetings. Feel free to behave as you would behave in a business meeting. 3 more things: Participate in class. Prepare for class and read the assigned material. See this an opportunity to develop an idea. In case u skip a class a valid reason must be given in the following session. Not later. No plagiarism on topics. Ralph Khairallah - USEK

Universal Concepts – Local context Power Point + word document was prepared to explain all the terms and definitions that the students are responsible for Aside from the main instructor who prepared the material, two other lecturers have taught the same course using the same syllabus and content The material can be applied to all countries and institutions but it focuses on the Lebanese entrepreneurial ecosystem as a case study

What Students like about the course Real project with real market potential Availability of funding if you prove a strong case Leadership and teamwork experience If you are “street smart”, this is your chance to prove it Create jobs for others instead of compete for jobs with others Make an impact on society “Coolness” factor of the startup culture See what all this “startup buzz” is about Ralph Khairallah - USEK

the “Gate keepers” in different faculties Academic Advisors are the “gate keepers” and can refer students from their faculties to register this course The Asher Center of Innovation and Entrepreneurship (ACIE) has delegated an Academic Committee formed of various faculty representatives to encourage student and faculty participation in entrepreneurial activities. The Academic Committee suggested that the course be delivered in a concise manner to the faculty members and advisors who will in-turn communicate the importance of such a course to their students in their respective faculties. Ralph Khairallah - USEK

Impact Promotes an entrepreneurial mindset – see problems as opportunities It empowers students to believe that they can commercialize their ideas Transfer of scientific ideas from the lab to the marketplace by teaming up with others who can help them commercialize their ideas The course links students with the Asher Center for Innovation and Entrepreneurship (ACIE) where their ideas can grow beyond the classroom and into the marketplace They are provided with mentorship, incubation, and seed funding to validate their ideas and then helps link them to the entrepreneurial ecosystem. Ralph Khairallah - USEK

General Inquires: ralphkhairallah@usek.edu.lb RESUME RESeaU Méditerranéen pour l’Employabilité CONTACTS General Inquires: ralphkhairallah@usek.edu.lb

… are your new best friends! PROBLEMS? … are your new best friends! Ralph Khairallah - USEK

Topic 19: Getting out of the building… Midterms

hypothesis Testing Build your own BM canvas on http://www.businessmodelgeneration.com Build your own BM canvas on http://www.businessmodelgeneration.com

“concierge” version of your business “concierge minimal viable product”: walking the customer through a planned service in person, before developing what will ultimately be a software implementation of that service. Advertise for a non-scalable solution that you will implement and interact with customers and get immediate feedback…

Test based on MVP where possible

Topic 20: Pitch Deck for Investors Ralph Khairallah - USEK

How to Pitch to investors

Business Plan Assignment Peer review Business Plan Assignment

Team Evaluation Every team member must submit an evaluation of the other team-mates after the project has been submitted. The peer review is confidential and submitted by email to the instructor’s address: ralphkhairallah@usek.edu.lb The evaluation is based on 3 criteria (on a scale from 1 to 5): Qualitative contribution (Ideas and creativity) Quantitative contribution (Parts covered and material submitted) Dedication and motivation (meeting with others and pushing the team to complete the tasks on time)

Your Name Name Qualitative /20 Quantitative Commitment Total / 60 /60 Team member 2 Team member 3

Tool we will use this semester