5.4 The business plan: its importance and limitations for the creators of an innovative company.

Developing a technology, building a team and financing the startup are not the only challenges that you and your colleagues will face. The elaboration of a credible value proposition and a scalable and profitable business model require a lot of back-and-forth discussions because the clients and sales terms and conditions of your offer will often be very different than originally planned. To win over financial partners, you will have to present the essentials of your project in a business plan and we will familiarize you with its main components in this session. Finally, you will view two case studies about entrepreneurs who created their companies on the basis of their research work. One of them sold his company and the other did several rounds of venture capital to speed up development before his IPO.

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