GRA 3136 New Venture Creation

GRA 3136 New Venture Creation

Course code: 
GRA 3136
Strategy and Entrepreneurship
Course coordinator: 
Sujith Nair
Course name in Norwegian: 
New Venture Creation
Product category: 
MSc in Business - Elective course
2024 Spring
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

Business development and the commercialization of innovations require entrepreneurial managers, whether starting a new firm or a new line of business in an established company. In this course, students will gain real-life experience with state-of-the-art entrepreneurial tools and methods, to learn how to develop and validate a business idea and value proposition, and build a viable business model around it. Moreover, in focusing on New Venture Creation, students will work with a real startup company to develop their business plan.

Lectures consist of a mix of group work to coach the project work, research based lectures, and case studies. Core themes of entrepreneurship will be discussed, such as the lean startup method, business modelling, entrepreneurial marketing and strategy, intellectual property, and venture capital. Students will be encouraged to do their projects with startups in the Innovation and technology hubs in the Oslo region. Alternatively, students can work on developing a new venture on their own.

The course is acknowledged as preparation course for “Gründerskolen” (the Norwegian School of Entrepreneurship, summer program), and will therefore also run in the spring semester.

Learning outcomes - Knowledge
  • Students will be introduced to state-of-the-art knowledge and practice of entrepreneurship, including the lean startup method, business modelling, and preconditions for scaling a business.
  • Students will get an overview and framework of start-ups, entrepreneurship, entrepreneurial management and organization, and governance issues in small and growing firms.
  • Students will be familiar with the various actors and roles in the entrepreneurial ecosystem, such as venture capitalists, innovation hubs and incubators.
Learning outcomes - Skills

By completing the course, the students will be able to:

  • Use basic methods and tools for how to start a business, develop and test value propositions and business models, and to make a business plan.
  • Present business ideas to investors and decision makers in a professional way.
General Competence

Through discussions of actual business ideas, their societal impact, as well as financial, intellectual, organizational and policy related challenges, the students will strengthen their capacity for critical reflection on entrepreneurship in society.

Course content
  • The lean startup method for starting new ventures
  • Business modelling - from value propositions to firm level strategy of startups
  • Entrepreneurial strategy, marketing and management
  • How to structure a business plan
  • Incorporation - choosing a legal structure
  • Entrepreneurship and motivation - people in the organization
  • Building business plan budgets and economic forecasts
  • Intellectual property issues
  • Venture capital
Teaching and learning activities

The course is structured around the process of developing and validating business ideas and business models, related to actual startups. Course tutors will help facilitating the matching of students and startup companies early in the course, and engage in coaching the development work throughout the semester. Step by step, the core elements and assumptions of a business plan will be developed and – as far as possible – tested. The final delivery (exam) consists of a full business plan, pitched to an expert panel (30%), and handed in as a term paper (70%). The key challenges of the business plan will need to be backed by reference to relevant entrepreneurship research. Students are expected to participate actively, both in class discussions and in engaging with startup companies and their environments.

Software tools
No specified computer-based tools are required.
Additional information

The exam for this course has been changed starting academic year 2023/2024. The course now has two exam codes instead of one. It is not possible to retake the old version of the exam. Please note new exam codes in the Exam section of the course description. 

It is the student’s own responsibility to obtain any information provided in class.


All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.


Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Exam category: 
Form of assessment: 
Group/Individual (1 - 3)
1 Semester(s)
Oral group presentation ("pitch") of the project
Exam code: 
GRA 31367
Grading scale: 
Examination when next scheduled course
Exam category: 
Form of assessment: 
Written submission
Group/Individual (1 - 3)
1 Semester(s)
The term paper has to be written in a group of maximum 3 students (in special circumstances individually). Requirements will be shaped by the nature of the Start-Up and its demand, with guidance from the lecturer. Please note, a degree of primary market research and outreach is expected.
Exam code: 
GRA 31368
Grading scale: 
Examination when next scheduled course
Type of Assessment: 
Ordinary examination
All exams must be passed to get a grade in this course.
Total weight: 
Student workload
36 Hour(s)
Combination of lectures, group exercises and project supervision.
Group work / Assignments
80 Hour(s)
Developing and testing business idea and business model, writing a business plan. To be handed in for the exam.
Student's own work with learning resources
34 Hour(s)
Company visit and/or Study trip
10 Hour(s)
Meet with case company to agree on project framing, gather information, and present preliminary insights back to company.
Sum workload: 

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.