ENTREP 5038 - New Venture Creation
North Terrace Campus - Trimester 3 - 2019
General Course Information
Course Code ENTREP 5038 Course New Venture Creation Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre Term Trimester 3 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Intensive: 36 to 40 hours Available for Study Abroad and Exchange Y Incompatible ENTREP 5018, TECHCOMM 5018 Course Description This course is aimed at exposing the students to approaches to venture creation placing the entrepreneurial team at the centre of the venture creation process. Anyone who needs to assess possible business or project opportunities that are mainly, but not exclusively, based on an innovative technological concept. Rapid screening techniques are introduced, which will address the underlying business concept, the base technology, benefits to customers, potential markets, financial feasibility, risk and benefits to the new venture and the next steps to be taken. Opportunity screening protocols will be treated in depth and a comprehensive venture - screening guide will be developed during the course. The course covers all the key elements of a feasibility study for a new venture.
Course Coordinator: Dr Scott GordonProgram Director Contact Details: Entrepreneurship & Innovation
Name: Professor Paul Steffens
Name: Dr Scott Gordon
Researcher profile: https://researchers.adelaide.edu.au/profile/scott.gordon
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes
On successful completion of this course, students will be able to:
1 Identify the difference between an idea and an innovative business opportunity 2 Articulate a new venture investment proposition and communicate ideas and concepts effectively 3 Build an assessment process for a new opportunity or venture to determine its viability and sustainability 4 Identify the areas of risk in research commercialisation and/or introducing new technologies or other innovations into a market 5 Produce a feasibility report for your own or another new venture opportunity 6 Draw conclusions and recommend actions based upon a comprehensive opportunity assessment of a new venture idea
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1, 3, 4, 6 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
6 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
1, 2, 3, 5, 6 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
2, 3 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- Able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
4 Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
2, 3, 4, 5
Required ResourcesText book:
Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2016). Entrepreneurship: Theory, Process and Practice, 4rd Edition. Cengage Learning. ISBN: 9780170352550
A list of readings are available on MyUni.
Recommended ResourcesThere is a broad range of materials that cover and complement many of the topic areas covered in this course. A reading list will be available on MyUni to assist you with sourcing and locating additional materials.
Candidates may also benefit by consulting the following text:
Timmons, Jeffry A., Gillin, L. Murray, Buhrstein, Sam L. and Spinelli, Stephen Jr. (2011). New Venture Creation: Entrepreneurship for the 21st Century, A Pacific Rim Perspective, 1st Edition. McGraw-Hill Australia Pty Ltd, North Ryde, NSW.
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.
Online LearningMyUni 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.
Learning & Teaching Activities
Learning & Teaching ModesThis course is offered in blended learning mode with the face-to-face component offered as intensives.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.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).
Learning Activities Summary
Schedule Topic Content 1 Introduction – What’s this course about? 2 In what context does idea assessment take place? 3 How are new ideas developed? 4 Might this be a good idea? 5 Where do good ideas come from? 6 Is there a compelling need? 7 Are there enough customers? 8 How are ideas assessed? 9 Is the industry favourable? 10 Does the idea create a sustainable competitive advantage? 11 Does the entrepreneurial team have the right capabilities? 12 Group assignment presentation 13 Does the business model make sense and offer potential? 14 Is it the right strategy? 15 Do the finances make sense and offer potential? 16 Wrap up and review
Specific Course RequirementsThis course requires you to present mature and well-reasoned work that addresses the assessment of ideas and technologies using world’s-best methods. Of prime importance is to use current techniques and theory and apply in the course discussion and in your assignments. In undertaking your feasibility study and creating your assessment tool, state your logic and identify theoretical limitations and risks of any approach you suggest. Always take a critical stance on your own work.
You will need to read more widely on the topic then the list of references provided and beyond hits found on Google; remember this is postgraduate study.
Your work will need to be succinct and you should avoid overly verbose presentations. Do not labour the point, regurgitate theory or address irrelevant issues. Examples or cases may be used, if appropriate, to illustrate your point as they will serve to strengthen your arguments.
You are also required to structure your work so as it flows logically and your reasoning needs to be logical, sound and clear. The proper use of headings, sub-headings, bullet points and paragraphing will assist this purpose. Further, an executive summary or abstract at the beginning of your work will provide a clear overview of what follows in the body of your report.
Keep to the word limits and do not ramble. In every instance present your work as if it is a submission to a Board of Directors – succinct, clear, structured and reasoned.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
# Assessment Task Task Type Length Weight Learning Outcomes 1 New Venture Pitch Assessment Individual /Summative Max 1000 words
+ six (6) assessment forms
25% 2, 5 & 6 2 Feasibility Study Group / Summative Max 3000 words 30% 1, 3, 4, 5 & 6 3 An Opportunity Assessment Framework Individual / Summative Max 3000 words 45% 1, 2, 3 & 6 Total 100%
Assessment Related RequirementsStudents should attend all classes in order to pass the course. There is considerable experiential learning in workshops during the intensive classes that build your knowledge and thus enable you to be successful in this course.
Course results are subject to moderation by the ECIC Board of Examiners
Assessment Detail“Assessing New Venture Pitch”
This assignment requires you to:
a. Submit submit six (6) Investor Pitch Assessment Sheets by reviewing your choice of the new venture pitches from links provided on MyUni
b. answer two questions
With your team of no more than five members prepare a full Opportunity Assessment and Feasibility Report that outlines the potential of a technology or business concept of your team’s choice to form a new venture. IMPORTANT: This is not a business plan but a comprehensive analysis of a business idea/concept that recommends whether the idea provides an arguable case to proceed with full business planning and business startup activity. Make your recommendations clear and base these on clearly articulated conclusions drawn from your opportunity assessment investigations and analysis.
During the second intensive your team will be given an opportunity to present a fifteen minute progress summary of the market analysis.
Make your recommendations clear and base these on clearly articulated conclusions drawn from your opportunity assessment investigations and analysis. This can be a go, no-go, or go-if decision as long as it is clearly motivated.
Opportunity Assessment Framework
Based on desk research and possible interviews with knowledgeable people, develop an Opportunity Assessment Framework that can be used to validate a venture idea/concept suitable for a specific end user. This may be developed specifically for a technology or industry sector, a venture capitalist, an angel investor, a social venture funder or a tool developed for your own purposes. In any case, this assignment requires you to research and identify at least three alternate methodologies suitable for your purpose of assessing new venture ideas and concepts. Conclude your assignment by recommending and proposing a framework methodology for assessing ideas and new venture opportunities fit for your designated purpose
SubmissionAll text based assignments must be submitted via MyUni.
Please refer to step by step instructions: MyUni Learning Centre
There are a few points to note about the submission of assignments:
- Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
- Cover Sheet: Please include in the assignment a completed University of Adelaide Assessment Cover Sheet 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.
- Extensions of Time: An application for Assessment Extension should be made well 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.
- 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 & Remarking
Resubmission of an assignment for remarking 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.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
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SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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