ENTREP 5038EX - New Venture Creation

North Terrace Campus - Trimester 1 - 2024

This course is aimed at exposing the students to modern approaches to new venture creation. It focuses on the nexus between the entrepreneurial team, their opportunity and the iterative process of venture development they engage with. It is designed for anyone who needs to assess, develop or create potential business or project opportunities that are mainly, but not exclusively, based on a technological concept or a social innovation. Screening techniques are introduced that will address the new venture value proposition: including analysis of the underlying business concept, the base technology, benefits to customers, and fit with potential markets. Models for new venture development which include consideration of the resourcing requirements, the competitive landscape, team development and future strategies will be treated in depth; and a comprehensive model for new venture validation will be developed during the course.

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Course Details

Course Code	ENTREP 5038EX
Course	New Venture Creation
Coordinating Unit	Entrepreneurship, Commercialisation & Innov Centre
Term	Trimester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Available for Study Abroad and Exchange	N
Incompatible	ENTREP 5018, TECHCOMM 5018
Assessment	Individual and group assignments, quizzes

Course Staff

Course Coordinator: Dr Scott Gordon

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

Teaching Staff:
Name: Dr Scott Gordon
Researcher profile:
Email: scott.gordon@adelaide.edu.au

Course Timetable

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

Course Learning Outcomes

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

1	Identify the difference between a business idea and a potential innovative business opportunity
2	Articulate a new venture value proposition and communicate ideas and concepts effectively
3	Build an assessment process for a new venture to determine its desirability, feasibility, viability and sustainability
4	Develop practical strategies for exploiting business opportunity and resourcing new venture creation and development
5	Prepare a comprehensive validation for a potential new venture of your own design, and recommend future strategy.

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)
Attribute 1: Deep discipline knowledge and intellectual breadth Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.	1-5
Attribute 2: Creative and critical thinking, and problem solving Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.	1-5
Attribute 3: Teamwork and communication skills Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.	2-5
Attribute 4: Professionalism and leadership readiness Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.	3-5
Attribute 5: Intercultural and ethical competency Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.	3,5
Attribute 7: Digital capabilities Graduates are well prepared for living, learning and working in a digital society.	2-5
Attribute 8: Self-awareness and emotional intelligence Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.	2,5

Learning Resources

Required Resources

Text book:
Barringer, Bruce R. and Ireland, R. Duane (2019) Entrepreneurship: Successfully Launching New Ventures, 6th Edition (Global Edition). Pearson. ISBN: 978-1-292-25533-0

A list of readings are available on MyUni.

Recommended Resources

There 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 texts:

Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2019). Entrepreneurship: Theory, Process and Practice, 5th Edition. Cengage Learning. ISBN: 978-0170411752

Nielsen, S. L., Klyver, K., Evald, M. R., & Bager, T. (2017). Entrepreneurship in theory and practice: paradoxes in play. 2nd Edition. Edward Elgar Publishing, Cheltenham, UK. ISBN 978 1 78536 447 1

Bygrave, W and Zackarakis, A, Corbett, A. (2016) Entrepreneurship, 4th Edition, John Wiley and Co.

Hisrich, R.D., Peters, M. P., and Shepherd, D. (2016) Entrepreneurship, 10th Edition. McGraw-Hill Irwin, Boston.
Spinelli, Stephen Jr. and Adams, Robert Jr. (2015). New Venture Creation: Entrepreneurship for the 21st Century, 10th Edition. McGraw-Hill Irwin.

Library Resources
The 成人大片’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. .

Online Learning

is the 成人大片'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 Modes

This course is offered in blended learning mode with the face-to-face component offered as intensives.

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

Schedule
Topic	Content
1	Introduction – What’s this course about?
2	Proposing a feasibility study – Might this be a good idea?
3	Is there a compelling need?
4	Are there enough customers?
5	How can the start-up be funded?
6	Is the industry favourable?
7	Researching the customer
8	How strong is the competition?
9	Review and Sustainable Business Concepts
10	How can the start-up be funded?
11	Group assignment presentation
12	The entrepreneur and the team
13	Internal Analysis
14	Assessing Strategy
15	Resilience (Can the risks be managed?)
16	Wrap up and review

Specific Course Requirements

This 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 Summary

#	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 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

“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

Feasibility Study
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.

Interim presentation
During the second intensive your team will be given an opportunity to present a fifteen minute progress summary of the market analysis.

Final Report
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

Submission

All text based assignments must be submitted via MyUni.
Please refer to step by step instructions:

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 成人大片 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 .

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
This section contains links to relevant assessment-related policies and guidelines - all university policies.
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鈥檚 disciplinary procedures.

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

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator

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