Entrepreneurship and Startups in Europe

3 units

This course is designed to give students a grasp of the economic and political realities for entrepreneurs both in Spain (a Member State of the European Union) and Bosnia and Herzegovina (an EU Potential Candidate Country). Students will develop a comprehensive understanding of how economic environment, and EU and national policies are conceived and implemented to help businesses and start-ups. Students will get a better understanding of the European integration project, covering diverse economic and political topics such as its origins, the EU treaties and institutions as well as the European programs focused on business. The Spanish adhesion process will be also detailed along the lifetime of the EU stressing the specific challenges that this process meant both for Europe and Spain. Moreover, students will understand better the implications of the Single Market and the four freedoms for private companies and how the free movement of people, capital, products and factors can facilitate the creation of new managerial projects. Then, students will learn about the specific EU programs created to provide financial funds and technical assistance for companies. Examples of Spanish companies participating in these EU programs will be highlighted, as well as the outcomes achieved for entrepreneurs in Spain due to this European support. Finally, students will address the most important theories and managerial tools to learn about how to start a new business in this economic environment, knowing the regulatory advantages and the disadvantages that Spain and the EU offer. During the second part of this course, students will spend time in Bosnia and Herzegovina (BiH) and they will be introduced to the historical and societal context as well as the macroeconomic environment in which businesses are implemented in this country. Since BiH experienced three years of war ending just 22 years ago, leaving the country's economy devastated, the seminar will briefly analyze the importance of international assistance for reconstruction, as well as the consequences of its requirements for the economy. Further, students will consider the progress of the economy and business environment after the war until today and the process of transition towards a market-oriented economy, all in light of BiH's accession to EU integration. Moreover, the opportunities to overcome obstacles and capitalize on potential will be analyzed through the study of successful businesses and investigating potentials and obstacles of a newly designed start-up. Prerequisite: Admitted to one of Olin's study abroad.