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來自 University of Maryland, College Park 的課程

Financing and Profiting from Innovation for Corporate Entrepreneurs

23 個評分

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University of Maryland, College Park

Financing and Profiting from Innovation for Corporate Entrepreneurs

23 個評分

課程 4（共 5 門，Specialization Corporate Entrepreneurship: Innovating within Corporations）

This course is for aspiring or active corporate entrepreneurs who wants to understand how to secure and manage funding for their corporate venture. We will demystify key accounting and financing concepts to give corporate entrepreneurs a guide to developing the business case for their ideas, and securing funding to translate ideas into reality. This course focuses on four key areas: • Learning the fundamentals and how to create financial statements for new ventures within the corporate environment; • Examining valuation techniques for understanding how to assess and grow the value of the corporate venture; • Exploring the different sources of internal and external financing for the corporate venture; and • Applying lessons learned in the course to structure a funding deal and pitch the corporate venture. Try this course for FREE at https://www.coursera.org/learn/corporate-entrepreneurs-financing

從本節課中

Sources of Financing for Corporate Ventures

In this module, we will explore the different sources of internal and external financing for the corporate venture.

Welcome to Module 31:08

Sources of funding1:30

Internal funding3:27

Customer and vendor financing3:27

Franchising4:12

Joint ventures8:40

Co-branding6:32

Licensing agreements6:04

與講師見面

Michael R. Pratt
Lecturer of Technology Entrepreneurship
Maryland Technology Enterprise Institute (Mtech)

Hello again.

We're talking about sources of funding for corporate entrepreneurship.

So let's talk about first about the Internal funding that you have available

to the corporation.

The first of those is probably the most commonly though of and

that's the capital budget.

It is a budget, designed to

make investments that increase the value of the corporations overall enterprise.

The capital budgets for most corporations are controlled by an internal group

of people who allocate.

The capital budget based upon the projects that are presented and

internal rates of return or the net present values of those projects.

Again the capital budget of any corporation is, first it's finite.

So it's not an unlimited source of funds.

And I think one of the things that can have a significant impact on you as

a corporate entrepreneur is that any capital budget expenditure that

is made has a direct impact on what we call return on capital employed.

It's just another name for return on investment at the corporate level.

And that is a significant corporate metric for most corporations,

the return on capital imports.

So if you advance a project to this group and

they need to use capital money budget to fund it, that's increasing the capital,

that's increasing the asset base from the capital employed base.

And so you have to generate enough returns to make sure you

clear the hurdle rate that's been established for the corporation.

And that your investment doesn't necessarily reduce return on capital.

Interestingly enough, even though you might meet all the criteria for

the project, meaning you've got a project which

generates revenue and/or is strategic and it also has an acceptable

return rate which is in excess of the established hurdle rate.

You still may not get the money because again it's a finite resource and

you're competing with other people in the organization who have sho

are going after the same funds.

In addition to the capital budget there's also something called an operating budget

and that's basically what is spent by departments by measured groups or

operating costs used year after year.

Again, that's normally controlled by an internal group that is allocated to

various projects based upon those projects returns, it's also finite.

The only difference, well I shouldn't say the only difference, a major difference in

an operating budget or advancing a project which

impacts on the operating budget versus one that impacts on the capital budget.

If it's an operating budget spend, it doesn't have a direct impact on return on

capital employees, although they're still going to want to see that project have

a return, which is the next steps of a hurdle rate.

And again, it's finite, so therefore,

you're still competing against other projects, and

you still may not get the allocation of [INAUDIBLE] funds even though your

project meets all the criteria needed for that group too to make an allocation.

So those are primarily two sources of internal

funding that you will come across as a corporate entrepreneur.

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