The entrepSim entrepreneurship simulation places a great emphasis on the roled played by people in the development and sucees of an entrepreneurial startup.
In the simulation there is a pool of talent, i.e., a group of fictitious characters with distinct capabilities, past, risk-aversion and other characteristics, that may be induced to join the simulated startup.
Each individual is characterized by 10 different attributes and skills (Ex: marketing, sales, finance, product development, science, operations, etc)
The quality (combination of skills and talent) of this (fictitious) team is a key element for:
- Attracting investors and influencing their valuations of the venture
- Determine the effectiveness of each company’s R&D, manufacturing and sales activities
The combination of skills required to be successfull evolves over time.
In ths simulation we have a group o business angels yhat may be induced to make an early-stage investment on the simulated venture.
They are a group of very diverse (fictitious) people with different backgrounds and ability to add value to the venture.
Each will use her own criteria to value the prospective startup.
Some will make (very different) offers to make an investment.
The partucipants will have a “hard time” evaluating their offers and bargaining with them.
Dilution versus value added are at stake.
In this simulation we have four different venture capital firms.
Some have an excellent track record as investors. Others do not.
Some are experienced in this industry. Other, not really so.
Some are very intrusive and very hands on demanding to control some aspects of the venture. Others are not.
Some offer good terms on their term sheets. Others are tougher and may even refuse to invest.
Participants will have an even “harder time” selecting among different term sheets.
And some venture capitalists will add considerable more value than others angularjs developers.