About the content
The course aims at providing knowledge and experience to entrepreneurs and would-be entrepreneurs. Entrepreneurs generally start with a mission, a new idea that they want to bring to the world. If the idea is original, it is probably not expected by the market, which has to be educated. This is a very costly experience. Entrepreneurs need to gather capital at the start of the journey. They need to articulate clear plans, define objectives and resources and raise money accordingly. They also need to manage cash for two reasons: i) because the better it is managed, the less you need to raise with outsiders; ii) because generation of cash flow is the pillar of the valuation of the company. And we should add that the practical reason why a company gets bankrupted is because it runs out of cash.. The course is based on this belief. We look at the myth of the balance sheet and explain the dynamics of cash flows and the way they should be managed. We also investigate the basics of venture capital and provide a practical roadmap to entrepreneurs. Many courses are dedicated to the same topic. Our originality is that we operate in the advisory board of the private equity firm, Xerys and are board members of their venture companies. In addition, Michel was the country head for Merrill Lynch in France while Philippe served in the same function at UBS. The former as head of investment banking, the latter as head of global markets.
- Week 1 - HOW TO READ A BALANCE SHEET
Welcome! This first week will help you understanding the different types of financial documents and the information each contains with one goal in mind: make more informed decisions about your venture.
- Week 2 - VALUE CREATION AND CASH FLOW
In this module you will learn: How does your venture create wealth? What is a business plan? What is wealth? What are the main financial metrics of wealth creation? How does your venture create cash? What is the Burn rate? Why should you finance your venture t...
- Week 3 - GROWTH AND MARKET POWER
Understand that growth and size do influence market power and cash flows/profits as a consequence
- Week 4 - THE ENTREPRENEUR AND THE FINANCIERS
Understand the details of the relation between the entrepreneur and the financier, private equity in the first stages, then the public market at the time of the IPO. Understand the expectations, the documentation and the basis of price discovery
- Week 5 - VENTURE CAPITAL FINANCING
Understand via real life examples the respective objectives of the entrepreneur and the financiers. Examine the trade off between ownership and growth and get an understanding of the different stages of investment.
- Week 6 - Case Study
Administrator PE Fund Xerys
Professeur chargé de cours
École polytechnique (also known by the nickname " X ") is a French public institution of higher education and research, located in Palaiseau near Paris. It is one of the French Grandes écoles, and is renowned for its four-year undergraduate Ingénieur Polytechnicien degree in science and engineering. Students are usually admitted after two years of selective university-level preparation in mathematics and physics or after a Bachelor of Sciences (Licence in French educative system).
Polytechnique was established in 1794 by the mathematician Gaspard Monge during the French Revolution, and became a military academy under Napoleon I in 1804. Today, the institution still runs under the supervision of the French ministry of Defence. Initially located in the Latin Quarter of central Paris, the establishment was moved in 1976 to Palaiseau on the Saclay Plateau, southwest of Paris.
Polytechnique is a founding member of ParisTech, a grouping of leading Paris-area engineering colleges established in 2007. In 2014 it became a founding member as well as the head of multidisciplinary technology and innovation institute, the confederal "University of Paris in Saclay". Among its alumni are three Nobel prize winners, one Fields Medalist, three Presidents of France and many CEOs of French and international companies.
Coursera is a digital company offering massive open online course founded by computer teachers Andrew Ng and Daphne Koller Stanford University, located in Mountain View, California.
Coursera works with top universities and organizations to make some of their courses available online, and offers courses in many subjects, including: physics, engineering, humanities, medicine, biology, social sciences, mathematics, business, computer science, digital marketing, data science, and other subjects.