Master’s in Deeptech Startup Valuation Engineering
Online master's programme of 1,900 hours in deeptech startup valuation engineering: 12 modules covering the deeptech ecosystem, early-stage valuation methods, risk-adjusted DCF, real options, intellectual property, market sizing, investment structures, technology due diligence, exits and regulation, with an assigned technical tutor.
Take the controls.
Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Characterise the risk and capital profile of deeptech companies.
Apply valuation methods for pre-seed and seed stages.
Build rNPV and real options models for technology projects.
Value patents and other intangible assets.
Size markets and business models for emerging technologies.
Analyse term sheets and investment structures.
Carry out technology due diligence and issue investment recommendations.
Who it's for
- Deeptech venture capital analysts.
- Technology transfer managers at universities and research centres.
- Valuation consultants.
- Startup chief financial officers.
- Investment fund managers.
- Intellectual property analysts.
- Engineering or science graduates aiming to move into venture capital.
What you'll work with
- IPEV Valuation Guidelines (private capital valuation)
- IFRS 13 (fair value measurement)
- Spanish Act 28/2022 (Startups Act)
- Regulation (EU) 2019/452 (screening of foreign direct investment)
- ISO 16290:2013 (technology readiness levels)
- Regulation (EU) 2019/2088 (SFDR) (sustainability-related disclosures in financial services)
- Regulation (EU) 2021/821 (dual-use items export control)
- Microsoft Excel
- Carta
- Python
- PitchBook
- Questel Orbit
12 modules · 1900 h
1.1Characteristics of deeptech companies1.2Science, engineering and technology transfer1.3Quantum, biotechnology and new materials1.4Long cycles and capital intensity1.5Technology and manufacturing readiness1.6The European and Spanish ecosystems1.7Investors specialising in deeptech1.8Technology risk versus market risk1.9Success and failure stories1.10Case study: risk profile of a photonics startup
2.1The difference between value and price2.2Methods for early stages2.3Pre-money and post-money valuation2.4Dilution and the cap table2.5Venture capital discount rates2.6Required returns by stage2.7Illiquidity premium2.8Biases in early-stage valuation2.9International IPEV Guidelines2.10Exercise: cap table after three funding rounds
3.1Berkus valuation method3.2Payne scorecard method3.3Risk factor summation3.4Venture capital method3.5First Chicago scenario method3.6Private transaction comparables3.7Valuing the founding team3.8Milestones and progressive de-risking3.9Cost to reproduce the technology3.10Workshop: pre-seed valuation with several methods
4.1Projections for pre-revenue companies4.2Revenue models for emerging technologies4.3Discount rates by stage4.4Risk-adjusted NPV and probability of success4.5Adjusting for technical risk4.6Terminal value and exit scenario4.7Scenarios and Monte Carlo simulation4.8Capital requirements and cash burn4.9Limitations of DCF in deeptech4.10Lab: rNPV model of a biotech company
5.1Managerial flexibility as a source of value5.2Options to abandon, expand and defer5.3Binomial valuation trees5.4Black-Scholes applied to R&D5.5Staged compound options5.6Volatility of technology projects5.7Decision trees with probabilities5.8Integrating real options and rNPV5.9Communicating value to investors5.10Exercise: real options of a pilot plant
6.1Patent protection strategy6.2Freedom-to-operate analysis6.3Income-based patent valuation6.4Royalties and technology licences6.5Relief-from-royalty method6.6Trade secrets and know-how6.7Licensing from universities6.8Patent portfolio analysis6.9Infringement risk and litigation6.10Case study: valuation of a patent family
7.1TAM, SAM and SOM market sizing7.2Technology adoption curves7.3Deeptech business models7.4Industrial partners and co-development7.5Regulatory barriers to entry7.6Scaling up manufacturing7.7Unit cost and learning curves7.8Competing and substitute technologies7.9Validation with early customers7.10Workshop: market for a solid-state battery
8.1Pre-seed, seed and Series A rounds8.2Convertible notes and SAFEs8.3Liquidation preference8.4Anti-dilution clauses and ratchets8.5Shareholders' agreements and governance8.6EIC Accelerator and CDTI funding8.7Corporate venture capital8.8Venture debt and participating loans8.9Investor syndication8.10Exercise: analysis of a term sheet
9.1Assessing technology readiness9.2Scientific review and reproducibility9.3Scalability and manufacturability9.4Capabilities of the technical team9.5Product regulation and certification9.6Supply chain risks9.7Strength of the intellectual property9.8Data and software review9.9Due diligence report9.10Case study: due diligence of a quantum startup
10.1Acquisitions by strategic buyers10.2Technology IPOs10.3SPAC mergers10.4Secondary market sales10.5Exit multiples by sector10.6Optimal exit timing10.7Acquisition pricing and synergies10.8Earn-out clauses10.9Returns for founders and investors10.10Lab: distribution waterfall in a sale
11.1Spanish Startups Act 28/202211.2Tax incentives for investment11.3Foreign direct investment screening11.4Dual-use technologies11.5ESG criteria in venture capital11.6Impact measurement11.7SFDR disclosure for funds11.8Responsible research and innovation11.9Periodic reporting to investors11.10Case study: investment screening in a funding round
12.1Selection of the startup to study12.2Technology and readiness analysis12.3Market analysis12.4Ten-year financial projections12.5Valuation using several methods12.6Real options and scenarios12.7Proposed investment structure12.8Investment recommendation12.9Master's Thesis report12.10Master's Thesis: defence before a panel
How you'll learn
100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: you progress at your own pace within the intake, so the programme is compatible with work.
Each module combines theory, guided reading of the original guidelines and regulations, and applied exercises. The working software is Microsoft Excel, Carta, Python, PitchBook and Questel Orbit, in free, academic or evaluation versions. Exercises are built on real procedures: valuing a startup with several methods, technology due diligence and analysis of a term sheet. Assessment is continuous by module, plus the final Master's Thesis.
Standards covered: IPEV Valuation Guidelines, IFRS 13, Spanish Act 28/2022, Regulation (EU) 2019/452, ISO 16290:2013, Regulation (EU) 2019/2088 (SFDR), Regulation (EU) 2021/821.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Where this takes you
Requirements
- University degree in engineering, science or architecture, or equivalent demonstrable professional experience.
- Internet connection and a computer capable of running the programme software.
- English sufficient to read technical standards.
Ready to start?
Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.
Frequently asked questions
The programme totals 1,900 hours over 12–14 months. You set your own pace within each intake, and your tutor helps you plan the workload around your job.
You work with Microsoft Excel, Carta, Python, PitchBook and Questel Orbit, using free, academic or evaluation versions. Your tutor indicates the free alternative wherever one exists.
A SEIUM Institute diploma, awarded on passing the continuous assessment and the Master's Thesis. It is SEIUM's own qualification, not an official state degree; its recognition depends on the programme completed and the regulations of each country.
Yes. Modules passed in a course or postgraduate diploma in the same area are recognised in the higher programme. Ask about the recognition policy when you enrol.
A university degree in engineering, science or architecture (or equivalent professional experience), a suitable computer and English sufficient to read technical standards.
Start dates are set by SEIUM's faculty for each intake. Our admissions team will confirm the next available date when you apply.
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