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.