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 and a half 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 nationally and internationally renowned professors from the University of Hohenheim. Project-oriented work in small multicultural groups. 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), BASF Venture Capital in Ludwigshafen, hte GmbH in Heidelberg, ZF Friedrichshafen AG, Robert Bosch Start-up GmbH, RegioHelden, Simpleshow, and the Ministry of Finance and Economics of the federal state Baden-Württemberg. An exciting cultural and leisure program including visits to Heidelberg, Lake Constance and the medieval city of Tübingen. We hope you will enjoy your stay here at Hohenheim and the program, which we have chosen for you! And of course, we also hope that you will become a friend and future ambassador of our University! Kind regards, Prof. Dr. Dirk Hachmeister Lars Banzhaf Dean, School of Business, Economics International Office, School of Business and Social Sciences Economics and Social Sciences Summer School – Program Lectures in Hohenheim Special Program Industry Program CW 27: July 2nd – 5th, 2015 MON 29.6. TUES 30.6. WED 1.7. THURS 2.7. FRI 3.7. SAT 4.7. SUN 5.7. 09:00 Buchmann 10:30 (AULA) 11:00 An Introduction into 12:30 Innovation Economics 13:30 Welcome/ 15:00 Stuttgart Introduction Dies academicus Rallye 15:30 (AULA) 17:00 CW 28: July 6th – 12th, 2015 MON 6.7. TUES 7.7. WED 8.7. THURS 9.7. FRI 10.7. SAT 11.7. SUN 12.7. Lampenius 09:00 Kuckertz Tykvová Jung (HS 31) 10:30 (08:30 – 11:45) (AULA) (PC-Room 1 Risk ZF 11:00 (Blue Hall) Lake Introduction into (KIM)) Management Friedrichshafen 12:30 Introduction Constance Entrepreneurial Econometrics using Monte AG Entrepreneurship Finance of Innovation Carlo Research Simulation 13:30 Schiller (13:15 – 16:30) 15:00 ZF (Blue Hall) Lake 15:30 Mercedes Benz Free Free Friedrichshafen Risk Perception, Constance 17:00 AG Risk Taking and Risk Aversion CW 29: July 13nd – 19th, 2015 MON 13.7. TUES 14.7. WED 15.7. THURS 16.7. FRI 17.7. SAT 18.7. SUN 19.7 Gerybadze Burghof 09:00 Gerybadze (AULA) (Blue Hall) 10:30 BASF (AULA) Innovation Early‐stage 11:00 RegioHelden Venture Innovation Tübingen Management and Finance, State 12:30 Capital Policy in New Product Subsidies and Germany Development Financial Markets 13:30 Hachmeister Ministry of (AULA) 15:00 Stuttgart Free Simpleshow Finance and hte GmbH Entrepreneurial Tübingen 15:30 Stäffelestour 17:00 Economics Firms’ Valuation CW 30: July 20th - 24th, 2015 MON 20.7. TUES 21.7. WED 22.7. THURS 23.7. FRI 24.7. SAT 25.7. SUN 26.5 Lehmann- 09:00 Kuckertz Hasemeyer 10:30 (08:30 – 11:45) (AULA) Robert Bosch Examination (AULA) Financing Free Start-up GmbH (AULA) 11:00 New Venture Innovation in 12:30 Development the Industrial Revolution Tümmers 13:30 (14:00 – 17:00) 15:00 Daimler - (AULA) Virtual Reality Innovation Free Free Free Service-Center Management, R&D 15:30 Policy, European 17:00 R&D Policy Closing Ceremony Exams Procedure Students who have successfully completed the summer school will be awarded 9 ECTS. During the first days of the summer school the students will sign up for case studies (group assignment). Each group will be working on a specific topic/case throughout the summer school. All groups will be supervised by two professors. The results of the group assignment will be presented to the professors and student fellows at the end of the summer school. During the presentation, each group member has to play an active role. The presentation should last about 40 minutes and will be followed by a discussion. All in all, the assessment will take 60 minutes. 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 Unauthorized absence will be accepted only for one module (1/2 day). Students with additional unauthorized absence will not be entitled to successfully complete the summer school program. SCHEDULE Thursday, 2 July 2015 Arrival / Move-in Regardless of the date you will arrive, we will pick you up from the airport/train station and bring you to the Student Hotel close to the city-centre. Internationales Studentenhotel Neckarstraße 172 70190 Stuttgart Emergency Number: +49 (0)176 54435152 (Jan Heidemanns) 12:30 Transfer to the University of Hohenheim by metro: Meeting point in front of the student hostel, Neckarstr. 172 13:15 Lunch in the University canteen 15:00 Official Welcome (Aula) Welcome speech by the Dean Prof. Dr. Dirk Hachmeister Presentation of the summer school program Prof. Dr. Tereza Tykvová Organizational remarks Lars Banzhaf and Jan Heidemanns Presentation of the optional program Lars Banzhaf and Jan Heidemanns 16:30 Campus tour Valentin Henzler 18:00 Welcome Dinner with Swabian Food Café Denkbar (on Campus) Friday, 3 July 2015 09:00 Lecture: An Introduction into Innovation Economics (AULA) Dipl. oec. Tobias Buchmann, MES Innovation economics will introduce the summer school students into the broad field of modern innovation economics. Innovation economics has gained momentum since the 1990s as an autonomous field in economics qualified by the increasing importance of knowledge and innovation for the competitiveness of firms, regions and economies as well as by the peculiarities of innovations, which makes innovation processes difficult to be analyzed in the context of standard industrial economics. It turned out that modern innovation economics has become a field of interdisciplinary research combining besides economists, among others technological historians, economic sociologist, engineers and complexity researchers. In this course, students will be made acquainted with important concepts and ongoing research projects. 10:30 Break 11:00 Lecture continues (AULA) Dipl. oec. Tobias Buchmann, MES 12:30 Lunch break Optional program: Dies academicus 13:30 “Dies academicus” is an academic holiday. Students and staff of the university are given an opportunity to get to know other faculties. It is also a day where the university opens its doors to the public and thus, it is also known as the Open University. The motto of the “Dies academicus” is Discovering and Enjoying the University! It gets to the heart of what the visitors can expect: A wonderful summer party with exciting activities can be enjoyed. This event showcase that the university is enjoyable, thanks to research and teaching, the University of Hohenheim is among the most interesting and multifaceted universities in Germany. Enjoy the very special atmosphere of the “Dies academicus” which is celebrated annually. After the traditional tapping of the beer barrel by the President, many student groups will present themselves and serve food, cocktails, and much more. On Friday evening, the castle courtyard will turn into a big party zone. Saturday, 4 July 2015 Optional program: Stuttgart City Rallye Meeting point: In front of the Student Hotel, Neckarstr. 172 Start: tba Sunday, 5 July 2015 FREE DAY Monday, 6 July 2015 09:00 Lecture: An Introduction into Entrepreneurial Finance (AULA) Prof. Dr. Tereza Tykvová The lecture will address key questions which challenge all entrepreneurs and their investors: How much money should be raised? Who should provide it? When should the money be raised? How should funding be structured? What are the information problems that investors and entrepreneurs face? We will put particular focus on venture capital. 10:30 Break 11:00 Lecture continues (AULA) Prof. Dr. Tereza Tykvová 12:30 Lunch break 13:15 Lecture: Risk Perception, Risk Taking and Risk Aversion (Blue Hall) Prof. Dr. Jörg Schiller Financial decisions are usually made in a risky environment. The lecture will deal with the following questions: How do people perceive risky situations? When people are risk averse, do they dislike certain risks more than others? Which risks are people willing to take? How can we model and measure behavior in risky situations? In order to explore these questions, the lecture will include experiments, which are directly analysed in the classroom. 15:00 Break 15:15 Lecture continues (Blue Hall) Prof. Dr. Jörg Schiller 16:30 End of lecture Tuesday, 7 July 2015 08:30 Lecture: An Introduction into Entrepreneurship Research (Blue Hall) Prof. Dr. Andreas Kuckertz Entrepreneurship research provides answers related to questions of how new ventures can enter new markets successfully, how established corporations can overcome organizational inertia by developing an entrepreneurial spirit and what factors allow whole economies to become more entrepreneurial. This class will introduce students to the main concepts and results of entrepreneurship addressing these three fundamental questions. 10:00 Break 10:15 Lecture continues (Blue Hall) Prof. Dr. Andreas Kuckertz 11:45 Lunch break Industry program: Guided visit at Mercedes-Benz factory Sindelfingen Mercedes-Benz Customer Center Käsbrünnlestraße 71059 Sindelfingen 12:30 Meeting point: Bus stop in front of the university canteen 13:30 – 15:30 Guided visit at Mercedes-Benz factory Sindelfingen 15:45 Return to Stuttgart Wednesday, 8 July 2015 09:00 Lecture: Econometrics of Innovation (PC-Room 1 (KIM)) Prof.