PIER is pleased to announce its next PIER Startup Workshop “Finance, Business Plan & Funding for Startups” for early stage researchers (PhD students and Postdocs), taking place remotely (via Zoom) on 2 December 2022.
In the workshop, graduate students and scientists get introduced to sound financial planning methods for start-ups projects and learn how they can transfer their own business ideas or research results into different financial frameworks. The business plan as a whole is still an important instrument in order to test and review business models, make and adhere to strategic decisions and to share one’s own business idea with potential investors. Creating a proper financial plan represents a special challenge that includes rules, which entrepreneurs and business professionals need to become familiar with and follow. The focus of this workshop is mostly on the financial plan but connections are made to all chapters of a business plan in order to provide a holistic picture. The participants will also learn about various financing strategies and opportunities such as Venture Capital, government grants, debts, subsidies and other funding opportunities for start-ups along the different stages from idea generation to the actual establishment of a company in Germany and the EU. By using different examples, the participants are equipped with the basics of financial business planning and business financing in order for them to be able to lay the groundwork for future financial decisions.
The workshop offers a mix of theoretical input as well as creative and practical group exercises, which encourage the participants to think and act like entrepreneurs when drafting their financial plans, statements and records. In order to create an interactive learning environment, each participant can ask individual questions and share their personal experiences and opinions within the group.
Learning outcomes:
- Becoming familiar with the financial plan & the business plan as a whole
- Creating financial awareness for entrepreneurial projects
- Understanding funding strategies, resources and opportunities
- Exploring the option of turning research results into actual business ventures
- Developing different types of financial frameworks for banks
Content:
Round of introductions
Comprehensive overview of the financial plan and its different frameworks
Creating solid financial plans
Financial planning (Profit and Loss Statement, Liquidity Plan, Profitability Outlook, Capital Requirements)
Funding, financial support & resources for start-ups
Q&A
Required software:
zoom.us to participate in the virtual workshop
miro.com for individual & group exercises
