HTE413BKK
Finance for Startups
Faculty
Pete Silvester
Director at xCelery
Course length
Duration
Total hours
Credits
Language
Course type
Fee for single course
Fee for degree students
Skills you’ll learn
Overview
A business is a system—a set of interconnected parts working together to achieve a purpose—that can be described, modelled and analysed with numbers. This course seeks to build a systemic understanding of business, making it easier to learn how to perform key numerical tasks in entrepreneurship, such as choosing prices, assessing potential profitability, projecting cash flow and valuation.
Students will develop skills in spreadsheet programmes (MS Excel, Apple Numbers or Google Sheets) to construct a financial model of a startup from scratch. They can model their own startup concept or have one assigned, working towards building a well-reasoned answer to a fundamental question: Should I build this business?
Learning highlights
- Translating a startup concept into a coherent, investor-ready financial model.
- Learning to project cash flow and profitability to support better decision-making.
- Building a numbers-rich investor pitch and demystifying investor decision-making.
Course outline
15 classes
Systems thinking
Seminar: Using the analogy of an aeroplane to understand systems in numbers.
Exercises: Projecting take-off of an aeroplane (to learn spreadsheeting basics).
The Profit Model
Seminar: Visualising value chains and distilling unit economics.
Exercises: Estimating different types of cost in a startup.
Sizing the Opportunity
Seminar: Top down market sizing and validating a market opportunity.
Exercises: Projecting revenues using a TAM/SAM/SOM and market share breakdown.
Cash Flow
Seminar: Understanding cash flow dynamics and the “Valley of Death”.
Exercises: Projecting cash flow to estimate a startup’s capital requirement.
Pitch Day 1
Pitch Day 1
Risk Part I
Seminar: Understanding uncertainty and risk, and what to do about it.
Exercises: Planning and accounting for uncertainty and risks in financial models.
Growth Modeling I
Seminar: Understanding a viable growth engine as a system, with the Paid Engine of Growth.
Exercises: Projecting growth from the bottom up, and estimating Customer Acquisition Cost.
Growth Modeling II
Seminar: Understanding a viable growth engine as a system with the Sticky Engine of Growth.
Exercises: Estimating Customer Lifetime Value.
Growth Modeling III
Seminar: Understanding a viable growth engine as a system with the Viral Engine of Growth.
Exercises: Estimating Virality Coefficients and assessing overall growth engine viability.
Pitch Day 2
Pitch Day 2
Valuation
Seminar: Understanding discount rates and Net Present Valuation.
Exercises: Building a Net Present Valuation of a business based on projected profits.
The Investor Perspective
Seminar: Understanding an investors’ business model, and what they’re (really) looking for in a pitch.
Exercises: Conducting a sensitivity analysis on financial models.
Reaching a deal
Seminar: Understanding cap tables and terms sheets and common pitfalls.
Exercises: Creating an investment ask or deal.
Risk II
Seminar: Understanding ways to de-risk a deal for an investor (including yourself).
Exercises: De-risking the investment ask or deal.
Pitch Day 3
Pitch Day 3
Methodology
Each day will consist of a workshop with a seminar, discussion and exercises that incrementally build a financial model for a startup business. Each week will conclude with a “pitch day,” where students will submit a financial model and pitch—optionally in groups—to the rest of the class, with an increasing emphasis on quality.
Grading
Pete is a trusted strategy consultant who has helped organisations create and transform new products and ventures globally for the past 15 years. He has a strong track record of solving complex problems using his analytical skills and business acumen for clients in the travel, e-commerce and social sectors.
Passionate about entrepreneurship education, he has designed and led incubation and acceleration programmes and lectured at universities. He aims to empower the next generation of business leaders to leverage AI and blockchain technology to build a better future for our planet.
See full profileApply for this course
Finance for Startups
by Pete Silvester
Total hours
45 Hours
Dates
Jun 09 - Jun 27, 2025
Fee for single course
€1500
Fee for degree students
€750
How to secure your spot
Complete the form below to kickstart your application
Schedule your Harbour.Space interview
If successful, get ready to join us on campus
FAQ
Will I receive a certificate after completion?
Yes. Upon completion of the course, you will receive a certificate signed by the director of the program your course belonged to.
Do I need a visa?
This depends on your case. Please check with the Spanish or Thai consulate in your country of residence about visa requirements. We will do our part to provide you with the necessary documents, such as the Certificate of Enrollment.
Can I get a discount?
Yes. The easiest way to enroll in a course at a discounted price is to register for multiple courses. Registering for multiple courses will reduce the cost per individual course. Please ask the Admissions Office for more information about the other kinds of discounts we offer and what you can do to receive one.