Welcome
Dear Summer School Students,
First of all, we would like to warmly welcome you to Stuttgart and especially to the University of Hohenheim. We are very happy to have you here and look very much forward to an intensive and inspiring experience.
In our Summer School, a small group of students will meet with experts in corporate finance, entrepreneurship, venture capital, innovation theory and management as well as risk management and econometrics. We offer you a three weeks comprehensive learning experience and deliver insights into economics, management and financing of innovations and the link of the respective concepts to entrepreneurial behavior and the creation and financing of innovative new companies.
You will find a stimulating combination of academic education and practical experience to connect you with the thriving industry and culture in the region:
• High-quality teaching by renowned professors from the University of Hohenheim and visiting professors. • Attractive industry program which offers insights into the management and structure of globally active companies as well as start-up companies located in the region, for instance, Daimler (Mercedes-Benz), Porsche, Stuttgart Stock Exchange, Robert Bosch Venture Capital GmbH, Wizmann.Space, the Ministry for Economy, Labor and Housing of the Federal State Baden-Württemberg, RegioHelden and the Daimler Virtual Reality Service Center. • An exciting cultural and leisure program including visits to Heidelberg and the medieval city Tübingen.
We hope you will enjoy your stay here at Hohenheim. And of course, we also hope that you will become a friend and future ambassador of our University!
Kind regards,
Prof. Dr. Karsten Hadwich Andrea Brown Dean, Faculty of Business, Economics INEF Project Coordinator, Faculty of Business, and Social Sciences Economics and Social Sciences
Summer School – Program
Lectures in Hohenheim Culture Program Industry Program
CW 27: July 2nd – 8th, 2018
MON 2.7. TUES 3.7. WED 4.7. THURS 5.7. FRI 6.7. SAT 7.7. SUN 8.7.
09:00 Prof. Dr. Berger 10:30 Tümmers Prof. Kuckertz (HS 33) (HS 33) Welcome (HS 33) Entrepreneurial Daimler Innovation Opportunities (HS 33) New Venture Management – Factory Visit and 11:00 Creation public and Entrepreneurial private R&D 12:30 Marketing policies
Day trip to Tübingen Prof. 13:30 Lehmann- 15:00 Hasemeyer Prof. Tykvová (HS 33) Free International (HS 33) Free
Afternoon Supporting and Day Afternoon financing Entrepreneurial 15:30 innovation Finance 17:00 during the industrial take- off in Germany
CW 28: July 9th – 15th, 2018
MON 9.7. TUES 10.7. WED 11.7. THURS 12.7. FRI 13.7. SAT 14.7. SUN 15.7.
09:00 Dr. Lampenius Prof. Schiller Prof. Hopp 10:30 (Blue Hall) (Aula) (Blue Hall) Robert Bosch Risk Venture Capital Risk Current Topics Free Morning Management GmbH Perception, in using Monte Risk Taking 11:00 Entrepreneur- Carlo and Risk ship Research 12:30 Simulation Aversion
Day trip to Heidelberg
13:30 Prof. 15:00 Prof. Pyka Hachmeister Daimler AG
(Blue Hall) (Blue Hall) Wizemann. Virtual Reality Free
Space Service-Center Innovation and Afternoon Entrepre- the Bioeconomy 15:30 neurial Firms‘ Transformation 17:00 Valuation
CW 29: July 16th – 22nd, 2018
MON 16.7. TUES 17.7. WED 18.7. THURS 19.7. FRI 20.7. SAT 21.7. SUN 22.7 Prof. Gerybadze 09:00 (HS B12) Innovation Prof. Burghof Prof. Gehde- Ministry for 10:30 Strategy and S&T Trapp (HS 21) Economy, Policy in Germany Labor and (S09) Departure - Early-stage Free Morning Housing Day Global Innovation Finance, State R&D in Financial Baden- 11:00 and Germany’s Subsidies and Institutions and Württemberg 12:30 Position in Financial Markets Renewable Markets Energy
13:30 15:00 Trading simulation at Free Porsche Closing Departure RegioHelden Stuttgart Stock Afternoon Museum Ceremony Day 15:30 Exchange 17:00
Exams Procedure
Students who have successfully completed the summer school will be awarded 9 ECTS.
Students need to write an essay on one of the following questions:
1. Entrepreneurship (Prof. Kuckertz): Imagine after finishing your studies you decide to start-up an innovative venture. How would you approach this process? 2. Finance (Prof. Tykvová): By which means does a venture capitalist evaluate the cash need of an entrepreneurial company? 3. Risk and Risk Management (Prof. Schiller): Based on the study Caliendo et al. (2009), how does risk aversion affect the decision to become an entrepreneur? How important is the prior situation of the considered people (regular employment or unemployment)? What are the main results and important methodological shortcomings of the study? (The study will be published on ILIAS.) 4. Finance (Prof. Dr. Burghof): Discuss the advantages and disadvantages of large state sponsored funds to channel investments to technologies that are identified by the respective state agencies as particularly promising and welfare-enhancing! Give a comprehensive conclusion based on your arguments! The essay should consist of 3-5 pages. At the end of the summer school (latest Wednesday, 18th July, 9 a.m.) students need to hand in their essay (pdf-file) via email to [email protected].
Grading will be based on the German grading system: 1,0 | 1,3 very good 1,7 | 2,0 | 2,3 good 2,7 | 3,0 | 3,3 satisfactory 3,7 | 4.0 pass 5,0 fail SCHEDULE
Sunday, 1 July 2018
Arrival day: We will pick you up from Stuttgart airport/train station and bring you to the Student Hotel.
Accommodation: Internationales Studentenhotel (International Student Hotel) Neckarstraße 172 70190 Stuttgart Tel.:+49 (0)711 414300
Emergency Number: +49 (0)151 10902730 (Andrea Brown)
Monday, 2 July 2018
08:45 Meeting point: In front of the International Student Hotel Transfer to the University of Hohenheim by metro
10:00 Official Welcome (HS 33)
Address of Welcome by the Vice Dean for International Relations Prof. Dr. Jens Vogelgesang
Organizational Remarks Andrea Brown
Campus Tour
12:30 Lunch at the University Canteen
Free Afternoon
Start of the Festive Week in honor of the 200th anniversary of the University of Hohenheim.
Two hundred years ago, in 1818, the University of Hohenheim was founded by King William I and his wife Catherine Pavlova. In April 1815, the Tambora volcano in Indonesia erupted and its effects led to the year without summer in 1816. Europe was affected by the worst famine in the 19th century. In order to increase agricultural productivity it was believed that new knowledge had to be acquired in new and modern institutions. As a result the agricultural teaching, experimental and model institute Hohenheim was founded, which later turned into the University of Hohenheim.
2018 FIFA World Cup:
16:00 Round of sixteen ______: ______
2018 FIFA World Cup:
20:00 Round of sixteen ______: ______
Tuesday, 3 July 2018
09:00 Lecture: New Venture Creation (HS 33) Prof. Dr. Andreas Kuckertz
This course addresses the fundamentals of starting and running a new business. We will discuss different approaches to the entrepreneurial process and introduce effective methods to develop innovative business models and discuss how to successfully implement them.
10:30 Break
11:00 Lecture continues (HS 33) Prof. Dr. Andreas Kuckertz
12:30 Lunch break
13:30 Lecture: Supporting and financing innovation during the industrial take-off in Germany (HS 33) Prof. Dr. Sibylle Lehmann-Hasemeyer
In the first part of the lecture, Prof. Lehmann-Hasemeyer demonstrates that many innovative German companies went public at the Berlin stock exchange and on regional exchanges to finance innovation during Germany industrial takeoff. By applying for patents, the start-up companies were able to signal their ability to innovate and thus attract more investors. The second part of the lecture deals with the question of how a state can support innovations based on the example of Württemberg before 1868.
15:30 End of lecture
2018 FIFA World Cup:
16:00 Round of sixteen ______: ______
2018 FIFA World Cup:
20:00 Round of sixteen ______: ______
Wednesday, 4 July 2018
09:00 Lecture: Entrepreneurial Opportunities and Entrepreneurial Marketing (HS 33) Dr. Elisabeth S.C. Berger
The course objective is to understand how entrepreneurial opportunities can be discovered and exploited and to understand the basics of entrepreneurial marketing. Students will learn about the basics of entrepreneurial opportunities and the two approaches of understanding vs. creating new markets. Furthermore, the course addresses the basics of entrepreneurial marketing and we will discuss entrepreneurial marketing for specific target groups.
10:30 Break
11:00 Lecture continues (HS 33) Dr. Elisabeth S.C. Berger
12:30 Lunch break
Free Afternoon (International Day)
Thursday, 5 July 2018
09:00 Lecture: Innovation Management – public and private R&D policies (HS 33) Prof. Dr. Hans J. Tümmers
Science, technology and innovation are fundamental for the strength and the sustainable development of the economy. In this course, we analyze the role of the public and the private sector in the innovation process, with a particular focus on the strategy of the European Union.
10:30 Break
11:00 Lecture continues (HS 33) Prof. Dr. Hans J. Tümmers
12:30 Lunch break
13:30 Lecture: An Introduction into Entrepreneurial Finance (HS 33) Prof. Dr. Tereza Tykvová
The lecture will deal with value creation as the objective of each strategic and financial choice that an entrepreneur or investor makes. It will devote substantial attention to value assessment in uncertain environments. The course will focus on methods of financial modelling and forecasting.
15:00 Break
15:30 Lecture continues (HS 33) Prof. Dr. Tereza Tykvová
17:00 End of lecture
Friday, 6 July 2018
Daimler AG Factory Visit
Mercedes-Benz Customer Center Käsbrünnlestraße 71063 Sindelfingen
09:00 Meeting Point: In front of the International Student Hotel Transfer to Sindelfingen by private bus
10:00 – 12:00 Mercedes-Benz Factory Plant Tour in Sindelfingen
The factory of the Daimler AG offers a detailed view into the fascinating world of automotive production. Starting at the press shop, where the first parts are shaped, past the ballet dancing of the robots at the body shop, to the marriage of the vehicle body and powertrain in the assembly areas you will gain many insights into the engineering processes of Daimler. Moreover, you will get the chance to see innovative robot constructions in action, which is one of the most intriguing parts of the tour.
Free Afternoon
2018 FIFA World Cup:
16:00 Quarter-final ______: ______
2018 FIFA World Cup:
20:00 Quarter-final ______: ______
Saturday, 7 July 2018
Free Day
Optional Program: Day trip to Tübingen
08:35 Meeting point: In front of the Student Hotel, Neckarstr. 172 Transfer to Tübingen by public transport
10:30 – 16:20 Visit of Tübingen
On our day trip to Tübingen, we will explore a famous university city located approximately 50 kilometers south of Stuttgart. Among Tübingen’s former students are the astronomer Johannes Kepler, former Pope Benedict XVI, the philosopher Georg Wilhelm Friedrich Hegel and the poet Friedrich Hölderlin. The atmosphere in the rather small city centre is unique and extremely vivid. Narrow streets and alleyways are typical for Tübingen as well as the wooden boats on the Neckar River.
10:45 – 12:15 Guided Tour of the Old Town Meeting point: Tourist-Information (An der Neckarbrücke 1)
16:20 Meeting point: Main Station Tübingen (Hbf), Platform 2
2018 FIFA World Cup:
16:00 Quarter-final ______: ______
2018 FIFA World Cup:
20:00 Quarter-final ______: ______
Sunday, 8 July 2018
Free Day
Monday, 9 July 2018
09:00 Lecture: Current Topics in Entrepreneurship Research (Blue Hall) Prof. Dr. Christian Hopp
Entrepreneurship is “always a voyage of exploration into the unknown, an attempt to discover new ways of doing things better than they have been done before” (Hayek, 1948: 101). This lecture is intended to equip students with a basic understanding of the entrepreneurial process and respective managerial challenges. It analyzes the environments of entrepreneurship from types of opportunities, to how decisions are made depending on the opportunities pursued. We will focus on the unique challenges involved in founding and managing entrepreneurial ventures. Moreover, we address the analytical and administrative domains of entrepreneurial and managerial behavior. The course comprises theoretical insights into the entrepreneurial issues at hand and combines these with practical applications.
10:30 Break
11:00 Lecture continues (Blue Hall) Prof. Dr. Christian Hopp
12:30 Lunch break
13:30 Lecture: Entrepreneurial Firms’ Valuation (Blue Hall) Prof. Dr. Dirk Hachmeister
Valuation is the process of converting a forecast into an estimate of the value of the firm. In the first part, we will have a short look on valuation theory and concepts. In practice, a wide variety of valuation approaches is employed. In this lecture, we illustrate valuation using an all-equity firm to simplify the discussion and look at implementation issues using the real life example of Facebook Inc.
15:00 Break
15:30 Lecture continues (Blue Hall) Prof. Dr. Dirk Hachmeister
17:00 End of lecture
Tuesday, 10 July 2018
09:00 Lecture: Risk Management using Monte Carlo Simulation (Blue Hall) Dr. Niklas Lampenius
The course covers the identification and management of operational and financial risks in the context of innovations using Excel-based Monte Carlo Simulation tools. In the course of the session, students model and identify operational and financial risks in a case-study based context. Further, students test various mitigations strategies in terms of cost efficiency and mitigation potential. The session concludes with a recommendation to management regarding the top-5 risks and potential mitigation strategies of a particular innovation.
10:30 Break
10:45 Lecture continues (Blue Hall) Dr. Niklas Lampenius
12:15 Lunch break
Industry Program: wizemann.space
Quellenstraße 7a 70376 Stuttgart
12:50 Meeting point: University of Hohenheim bus stop Transfer by public transport (Bus 70 direction Ruhbank / Fernsehturm)
14:00 – 15:00 Visit of wizemann.space
Wizemann.space, located in the heart of Stuttgart, is a unique platform for creative and entrepreneurial activities. It’s a place where entrepreneurs, innovators, companies, designers, students and all sorts of people meet who want to play an active role in shaping the economy. After a tour of the wizemann.space and its innovative working environment, we will learn about Social Entrepreneurship and Social Innovation with the opportunity to ask questions.
2018 FIFA World Cup:
20:00 Semi-final ______: ______
Wednesday, 11 July 2018
Free Morning
Industry Program: Daimler AG – Virtual Reality Service-Center
Palmenwaldstraße 73733 Esslingen-Brühl
11:30 Meeting point: In front of the International Student Hotel Transfer by public transport (metro U4 towards Untertürkheim Bf)
13:00 – 14:30 Visit of the Virtual Reality Service-Center
As part of Mercedes aftersales services the Virtual Reality Service- Center is used to