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. 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 Start-up GmbH, Preloved | Mädchenflohmarkt GmbH, the Ministry of Finance and Economic Affairs of the Federal State Baden-Württemberg and the Start-up-Summit Baden-Württemberg. 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. Dirk Hachmeister Nora Simons Dean, Faculty of Business, Economics Faculty of Business, Economics and Social and Social Sciences Social Sciences, International Relations Summer School – Program Lectures in Hohenheim Culture Program Industry Program CW 27: July 3rd – 9th, 2017 MON 3.7. TUES 4.7. WED 5.7. THURS 6.7. FRI 7.7. SAT 8.7. SUN 9.7. Prof. Prof. 09:00 Tümmers Gerybadze Prof. Pyka 10:30 (Aula) (Aula) (Aula) Welcome Daimler AG Ballet in the Innovation Innovation An Introduction Park (Aula) Management, Factory Visit Management into Innovation 11:00 R&D Policy, and New Economics 12:30 European R&D Product Policy Development Day trip to Tübingen 13:30 Prof. Hopp Prof. Tykvová 15:00 (Aula) (Aula) Free Free Dies An Introduction An Introduction Afternoon Afternoon Academicus into into 15:30 Entrepreneur- Entrepreneurial 17:00 ship Research Finance CW 28: July 10th – 16th, 2017 MON 10.7. TUES 11.7. WED 12.7. THURS 13.7. FRI 14.7. SAT 15.7. SUN 16.7. Prof. Gehde- Prof. Schiller 09:00 Prof. Start-up Trapp 10:30 Gerybadze Prof. Kuckertz Company (Blue Hall) (Blue Hall) (HS 23) (Blue Hall) Mädchen- Risk R&D in Perception, Innovation New Venture flohmarkt Financial Risk Taking 11:00 Policy in Creation GmbH / Institutions and and Risk Germany preloved 12:30 Markets Aversion Day trip to Heidelberg 13:30 Prof. Burghof Trading (Blue Hall) 15:00 Start-up simulation at Robert Bosch Summer Free Summit Stuttgart Start-Up Early-stage Festival of Afternoon Baden- Stock GmbH Finance, State Cultures Württemberg 15:30 Exchange Subsidies and Financial 17:00 Markets CW 29: July 17th – 23rd, 2017 MON 17.7. TUES 18.7. WED 19.7. THURS 20.7. FRI 21.7. SAT 22.7. SUN 23.7 Prof. Company 09:00 Prof. Lehmann- founder of Hachmeister Hasemeyer Ministry for 10:30 Economy, Simpleshow (HS 34) (HS 34) Labour and GmbH Free Morning Housing Entrepreneurial Financing Jens 11:00 Baden- Schmelzle Firms’ innovation in Württemberg 12:30 Valuation the industrial (HS 34) revolution Departure Day 13:30 Dr. Lampenius 15:00 Daimler AG (HS 34) Porsche Free Closing Virtual Reality Risk Museum Afternoon Ceremony Service-Center Management 15:30 using Monte Carlo 17:00 Simulation 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. Innovation Management (Prof. Gerybadze): What are the most appropriate methods for measuring innovation activities and innovation performance? What are the particular strengths of the German innovation system? How strong are German business firms in terms of innovation performance? The essay should consist of 3-5 pages. At the end of the summer school (latest Wednesday, 19th 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, 2 July 2017 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 Emergency Number: +49 (0)1637931597 (Nora Simons) Monday, 3 July 2017 08:45 Meeting point: In front of the International Student Hotel Transfer to the University of Hohenheim by metro 10:00 Official Welcome (Aula) Address of Welcome by the Dean Prof. Dr. Dirk Hachmeister Introduction Summer School Program Lars Banzhaf (Head of International Relations) Organizational Remarks Nora Simons Campus Tour 12:30 Lunch in the University Canteen 13:30 Lecture: An Introduction into Entrepreneurship Research (Aula) 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. 15:00 Break 15:30 Lecture continues (Aula) Prof. Dr. Christian Hopp 17:00 End of lecture Tuesday, 4 July 2017 09:00 Lecture: Innovation Management, R&D Policy, European R&D Policy (Aula) Prof. Dr. Hans 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 (Aula) Prof. Dr. Hans Tümmers 12:30 Lunch break 13:30 Lecture: An Introduction into Entrepreneurial Finance (Aula) 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 (Aula) Prof. Dr. Tereza Tykvová 17:00 End of lecture Wednesday, 5 July 2017 09:00 Lecture: An Introduction into Innovation Economics (Aula) Prof. Dr. Pyka, held by Sophie Urmetzer 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) Sophie Urmetzer 12:30 Lunch break Free Afternoon Thursday, 6 July 2017 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 Friday, 7 July 2017 09:00 Lecture: Innovation Management and New Product Development (Aula) Prof. Dr. Alexander Gerybadze This course emphasizes the role of industrial corporations in implementing innovation at the firm and industry level. We will compare large multinational firms and their R&D investments as well as entrepreneurial young start-up firms.