Program Director Contact Details: Innovation and Entrepreneurship
Name: Dr Wendy Lindsay
Email: wendy.lindsay@adelaide.edu.au

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Teaching Staff

Name: Dr Anton Jordaan
Email: anton.jordaan@adelaide.edu.au

On successful completion of this course, students will be able to:

1	Identify the key financial considerations to be considered when launching a new venture
2	List the metrics used when building and running a new venture
3	Develop a robust financial model that reflects a new venture’s growth plans
4	Identify the possible sources of finance to support a new venture
5	Explain the practical financial and operational aspects of establishing and running a business

No textbook required

The following readings will be made available through MyUni:

BRW Magazine, 11 reasons why now is the right time to become an entrepreneur

Gross, Bill, The Start-Up Factory

Bhide, Amad The Questions Every Entrepreneur Must Answer in The Entrepreneurial Venture pg 65

Blank, Steve Why the Lean Startup Changes Everything Harvard Business Review

There is a wide range of material on the lean startup movement and venture capital. The following provides some additional reading guidance if you are interested in reading further on the topic.

A key resource for more information on the Lean Start-up methodology and business model generation is the website from the “founder” of the Lean Startup movement, Steve Blank.
http://steveblank.com

Note in particular, the recommended books listed here:
http://steveblank.com/books-for-startups/  

A couple of the key foundational texts are:

Blank, Steve. The Start-Up Owners Manual. K & S Ranch; (March 1, 2012)

Osterwalder, Alexander. Business Model Generation Wiley; (July 13, 2010)

Reis, Eric. The Lean Startup Crown Business (September 13, 2011)

Mayura, Ash, Running Lean: Iterate from Plan A to a Plan That Works O'Reilly Media; 2 edition (March 6, 2012)

Feld, Brad and Mendelson, Jason. Venture Deals: Be Smarter than your Lawyer and Venture Capitalist Wiley; 1 edition (August 2, 2011)

Library Resources
The University of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the University’s website. Access to the Library's electronic resources.

MyUni is the University of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study.

This course is offered in remote learning mode comprising six intensive teaching sessions.

As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).

This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.

Day	Learning Activities : Topics
1	Introduction; Lean Start-up; Metrics; Business Model Canvas Design
2	Resources; Costs (fixed/variable); Revenue streams/models; Intro to accounting concepts
3	Financial Statements; Revenue and Expense Forecasting; Building a Financial Model
4	Sources of Internal and External Funding; NPV/IRR investment decision making
5	Private Equity funding (Angel funding; Venture capital 101)
6	Launching, Growing, and Exiting your Business

An overview of the course assessment appears in the following Table. Details appear in the following section:

#	Assessment Task	Task Type	Length	Weighting	Learning Outcomes
1	Business Model development	Individual	1500 words	20%	1, 2
2	Development of a Financial Model	Group	N/A	30%	3
3	Exam	Individual	take home exam	40%	1 - 5
4	Individual Participation and Group Contribution	Individual	Course duration	10%	1 - 5
	Total			100%

Students should attend all classes in order to pass the course. There is considerable experiential learning during classes that build your knowledge and thus enable you to be successful in this course.

Course results may be subject to moderation by the Assessment Review Committee.

Business Model development
Pick a business idea of your own. Design a Business Model Canvas and prepare an Executive Summary to be presented as a 2 minute pitch.

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Development of a Financial Model
From the business ideas presented your team will select one idea and build a financial model that best portrays a likely financial projection for the new venture. Particular attention will be paid to the robustness and validity of the assumptions that underpin your projections.

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Take Home Exam
The take-home exam will be provided in the last lecture, and will contain questions derived from the lectures and readings.

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Individual Participation and Group Contribution
Fully particpate in all individual and group tasks and activities throughout the duration of the course. Participation will be evaluated based on students’ preparedness and interaction (whole class and group work).

All text based assignments must be submitted via MyUni:

• Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both).
• Cover Sheet: Please include in the assignment a completed University of Adelaide Assessment Cover Sheet (found in MyUni, under Modules) providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work. Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
• Backup Copy of Assignments: You are advised to keep a copy of your assignments in case the submitted copy goes missing. Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
• Assessment extensions request: An application for Assessment Extension should be made before the due date of the assignment to the Course Lecturer. Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date. Extensions will only be granted in cases of genuine medical, compassionate or extenuating circumstances. See sections 3 and 7a) i. in particular on assessment extensions in the Modified Arrangements for Coursework Assessment (MACA) Policy.
• Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade. Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in 'Assessment Related Requirements' or 'Assessment Detail' above). Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.
• Resubmission: of an assignment after reworking it to obtain a better mark will not normally be accepted. Approval for resubmission will only be granted on medical or compassionate grounds.
• Appealing a mark or grade: If you are dissatisfied with your mark or grade, you may request a review or re-mark. There must be academic or procedural reasons for your request, so you can’t simply request a re-mark because you are disappointed with your result. For more information on the process see Assessment Grievance: Appealing a mark or grade