Prof Erik Vermeulen Masterclasses
Friday, 15 August 2014 at 10:00 - Saturday, 16 August 2014 at 11:30 (BST)
Professor Erik Vermeulen
Professor of Business and Financial Law at Tilburg University and Tilburg Law and Economics Center (TILEC)
Masterclasses at Queen’s University Belfast
You can register to attend one or more of these master classes at http://www.qub.ac.uk/home/ResearchandEnterprise/BusinessNetworks/InnovationProgra mme/All-IslandInnovationProgramme2014/ErikVermuelen/Masterclass/ or by emailing email@example.com
These master classes will be of interest to established organisations and businesses, startups, government bodies, academics, policy makers and anyone who is interested in stimulating the local economy.
Masterclass 1: 15 September, 10am – 12 noon, Riddel Hall, Queen’s University Belfast
The Organization and Funding of Early-Stage Businesses
Investors typically use four criteria when evaluating an investment opportunity: (1) the attractiveness of the project analyzed in terms of market size and growth, product attractiveness, the business strategy, the likelihood of customer adoption, and the competitive position of the venture; (2) the quality of the management team and the organization of the venture; (3) deal terms; and (4) exit opportunities (the topic of Workshop 3). This Workshop delves into the organization and governance of early-stage businesses. Recent developments on this topic reveal that there have been major changes in how earlystage businesses are organizing themselves nowadays. How did this come to be? There is an increasing shift towards more entrepreneur favorable deal terms, investors are ditching the legalese and are instead opting for more user friendly term sheets, and the reputable and well-established investors are orchestrating a code of conduct to restore trust and confidence in the start-up ecosystem. Each of these developments begins to confirm the changing landscape within the industry. One thing is clear: early-stage businesses better take notice.
Masterclass 2: 15 September, 2pm – 4 pm, Riddel Hall, Queen’s University Belfast
New Trends in Early-Stage Business Financing
Access to finance is a major challenge for early-stage businesses. As discussed in Workshop 1, there are many strings attached to traditional financing whether it be through equity or debt, which explains the increasing interest in alternative investment options, including new types of investors such as micro-venture capital funds, crowdfunding platforms and corporate venture capital. Many of these financing options offer unique propositions beyond what is offered by the more traditional avenues of funding. For instance, crowdfunding (as a new type of entrepreneurial finance) enables early-stage startup companies to raise ‘venture capital’ from a large group of individuals, sidestepping the traditional fundraising process that includes lengthy due diligence periods and tough negotiations over the valuation and contractual terms. This Workshop has been designed to better understand the new trends in early-stage business financing and to create awareness of the difficulties and challenges associated with these alternative financing options.
Masterclass 3: 16 September, 9:30am – 11:30 am, Riddel Hall, Queen’s University Belfast
The Truth about IPOs (and Acquisitions) of High Tech Companies
Liquidity issues disrupt the venture capital model and make venture capital investments less attractive. How should this problem be addressed? The solution is clear: We need more liquidity options (e.g., a structured pre-IPO segment in stock markets) that can effectively bridge these gaps. The Workshop starts with a bird’s eye view of legal and institutional measures that are currently being unveiled by policymakers, regulators, and exchange operators in their attempts to revitalize the IPO model. We later zoom in to examine the determinants that make an IPO successful. A particular focus is on the interactions among managers, board members, and investors. These interactions can have a positive impact on the inner workings of the newly listed company. We also explore the dynamics of the IPO market, and in particular show how interactions with intermediaries and advisors affect the further development of companies beyond the IPO. Finally, the Workshop looks at the costs and benefits of IPOs (compared to acquisitions).
The InterTradeIreland All-Island Innovation Programme
The InterTradeIreland All-Island Innovation Programme aims to promote and encourage innovation across the island of Ireland. It brings international expertise in innovation to
Queen’s University Belfast, NUI Galway, University College Cork and University College Dublin. Best international practice is shared with business leaders, students, academics, knowledge transfer professionals and policy makers in each region via innovation lectures, seminars and master classes. This Programme is organised by InterTradeIreland, Queen’s University Belfast, University College Dublin, University College Cork and NUI Galway