ENTREP 5038SP - New Venture Creation

North Terrace Campus - Summer - 2019

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.

  • General Course Information
    Course Details
    Course Code ENTREP 5038SP
    Course New Venture Creation
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Summer
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Intensive
    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 Staff

    Course Coordinator: Professor Paul Steffens

    Program Director Contact Details: Entrepreneurship and Innovation
    Name: Professor Paul Steffens
    email: paul.steffens@adelaide.edu.au

    Course Facilitator:
    Name: Dr Anton Jordaan
    email: anton.jordaan@adelaide.edu.au
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    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
  • Learning Resources
    Required Resources
    There is no prescribed textbook for this course. Introductory course notes are available on the MyUni course site. These notes serve as initial guidance around the weekly topics and concepts and provide students with a basis for further exploration, research and learning.
    Recommended Resources

    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.

    Online Learning
    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.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is conducted as a 1-day intensive mode with accompanying online learning resources and assessment activities.

    In total the course is over eight weeks with the first four week formative learning (coursework) supported by the online materials.

    The purpose of this course is for participants to practically apply skills of developing and assessing an opportunity through a selected case study scenario. The course is compiled of both theory and practical activities that have been developed around a case study. During the course you will be required to download a free opportunity assessment framework for use in assessing your opportunity. The activities of the case study and assessment uploads will be conducted online on a weekly basis.

    Workload

    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
    Students will undergo a range of learning activities throughout the duration of the course, both in the intensive workshop and online.
    The activities and assessments set for this course focus on the following disciplines of learning and application:
    Thinking entrepreneurially and exploring opportunities
    Intrapreneurship
    Customer segments
    Competitor analysis
    Concept development and presentation
    Risk identification and assessment
    Opportunity review and feasibility
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Task Type Length Weighting Learning Outcome
    Opportunity – Ideation & Concept Development In-class Groupwork + Written assignment 600 words 10% 1, 2
    Business Model & Opportunity Assessment Framework Written assignment 2,000 words 30% 2, 3
    Risk Register Written assignment 1,000-1,500 words 25% 3, 4
    Feasibility study report & Presentation Written assignment and presentation 2,500 words 10 slides + video/audio presentation of opportunity 35% 1-6
    Assessment Related Requirements
    Students 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
    Opportunity: Ideation & Concept Development
    This assessment combines a workshop activity of building out the case study opportunity through a series of groupwork ideation activities, which is subsequently presented as a written assignment focused on exploration of the opportunity concept. You are required to provide an overview of the opportunity concept providing details of the concept, market, the customer segments, and the perceived value proposition and benefits of the concept to customers.

    Business Model & Opportunity Assessment Framework
    Develop an initial, first-version business model based on the work undertaken to date. This assessment comprises a written activity and the underpinning decisions and justification around establishing a theoretical/hypothesis of how the potential opportunity might be exploited, which can then be subjected to assessment of the opportunity. Once the business model has been completed, a mobile app will be utilised as a diagnostic tool to assess the opportunity.

    Risk Register Framework
    This assessment aims to ensure that participants undertake a thorough risk identification, assessment, and risk response of the potential opportunity. There are typically a range of risks associated with opportunity assessment and as such, entrepreneurs and intrapreneurs are encouraged to undertake a risk assessment of the conditions opportunity prior to developing it into a new venture. Participants will apply a risk register framework to assess the opportunity and propose appropriate actions to strategically manage risks.

    Feasibility Study Report & Presentation
    The final assessment provides participants with the opportunity to practically integrate their learning in the form of a final written feasibility study report accompanied by a presentation. The feasibility study demonstrates skills of applied theory into practice and a template is provided to complete the assessment. Participants are also required to develop a presentation on assessment of the
    opportunity. In order to complete this, a slide deck of no more than 10 slides is required accompanied by a 5-minute audio or video presentation.
    Submission
    All 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.
    Course Grading

    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.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    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.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.