Unit name | New Venture Creation |
---|---|
Unit code | INOVM0002 |
Credit points | 20 |
Level of study | M/7 |
Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
Unit director | Dr. Fornes |
Open unit status | Not open |
Pre-requisites |
Enterprise Case |
Co-requisites |
Transdisciplinary Group Project 4: Building a Demonstrator |
School/department | Centre for Innovation |
Faculty | Faculty of Arts |
This unit will explain how to go about setting up a new enterprise venture. The search and validation of an original idea (including intellectual property), the development of a business model that fits and covers internal and external requirements, the capability to translate this enterprise idea into an attractive and feasible enterprise plan, are a sequence of planned activities that mark the first milestone of a successful venture. In this context, this unit takes students through this sequence showing what it means to be an entrepreneur, including a broad understanding of the entrepreneur role, from the risk-taking and emotional concerns of starting an enterprise through to the development of a robust enterprise plan for their final group project.
At the end of the unit, it is expected that students will be able to:
10 x 3-hour seminars
The unit will be assessed by (i) an individual 3000 - word essay worth 60% and (ii) group work including a 20-minute enterprise plan presentation worth 40% (which will include 20% of peer assessment).
The essay intends to assess the application and evaluation of different tools and techniques for the development of new ventures (ILOs 1, 3 & 4: tools and skills to develop a robust business plan, understanding of factors affecting companies’ performance, the ability to reflect on their own experience). The group exercise intends to give a holistic view of being an entrepreneur and its context while at the same time develop teamwork and leadership skills (ILOs 1, 2, 4 & 5: tools and skills to develop a robust business plan, hands-on experience in applying and evaluating business models and environments, the ability to reflect on their own experience, and skills to think strategically).