Abstract for: Modeling New Ventures : Planning, Financing and managing Operations

Based on successful real-world cases, participants experienced how to develop models for early-stage ventures - a process that is also useful for important initiatives in existing companies. After a brief explanation of the challenges facing new ventures and the need for fast and low-cost modeling, participants spent most of the time building a model for a new venture case, following an 'agile' process that generates useful models and results quickly. The workshop ended by showing how the same model can be developed through 3 stages ... [a] a simple model to prove the viability of the business idea [b] adding the full financials needed by investors to raise finance and [c] adapting the model for continuous week-to-week management of the business.