81523 Speculative Start-up
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Subject handbook information prior to 2025 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
Requisite(s): 40 credit points of completed study in spk(s): STM90839 Core subjects (Creative Intelligence and Innovation)
There are course requisites for this subject. See access conditions.
Description
This advanced subject provides an understanding of the essential factors for start-up success, applicable to a variety of for-profit and not-for-profit ventures. Students develop skills in planning, initiating, and leading start-ups by building off and applying the knowledge they've accumulated across their educational and life experiences, potentially laying the groundwork for launching a real enterprise.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | Conduct comprehensive research and experimentation to explore factors that contribute to the success and sustainability of new enterprises. |
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| 2. | Develop and apply professional skills, practices and tools required to enable the adoption and diffusion of innovations in complex environments. |
| 3. | Design a business model which has the potential to create economic, social, and environmental value, and formulate a feasible plan to launch the start-up. |
| 4. | Communicate persuasively to engage and influence key stakeholders and decision-makers. |
| 5. | Embed ethical practices into all stages of the venture creation process. |
Course intended learning outcomes (CILOs)
This subject contributes specifically to the development of the following course intended learning outcomes:
- Identify, create, and employ a range of appropriate creative intelligence methods and boundary-crossing methodologies to construct and solve problems and generate transformative possibilities (CII.2.1)
- Practice mutual, responsible value creation, including the implementation of sustainable and entrepreneurial innovation. (CII.3.1)
- Communicate transdisciplinary ideas and solutions succinctly and persuasively using appropriate modalities. (CII.3.2)
- Develop reflexive connection with an evolving self, demonstrating ethical and intellectual positions that reflect well-considered values that enable greater purpose and inclusivity. (CII.4.1)
Teaching and learning strategies
Learning will take place in a collaborative, immersive and experiential environment. Each student's entrepreneurial journey will be different, so a blended learning approach will be supported to enable students to pursue a tailored learning journey. A key learning strategy is ‘learning by doing’, where each student will engage with one or more entrepreneurial initiatives, either as an individual or as a team, which they aspire to launch as a real enterprise or project, with learning occurring as they enact the entrepreneurial initiative. We encourage students to scaffold previous entrepreneurial thinking by building off previous initiatives they are familiar with. Previous initiatives could be their own or come from other students (by mutual agreement) or a collaborator external to the subject (also by mutual agreement).
Rather than focusing on assessing students on one initiative, which they carry through the entirety of the subject, students will be assessed holistically, focusing on learning outcomes and practices. Students who discover that their initial initiative does not have service/product/market fit, or is otherwise unfeasible or undesirable, will be encouraged to pivot to another initiative at the point where this learning occurs.
Students will be encouraged to collaborate ethically with industry partners and stakeholders as they develop their initiatives. The learning is a form of 'work-integrated-learning', where students will inhabit a liminal space between the university and real world industry contexts as they engage in entrepreneurial practices.
The entrepreneurial journey is a process of experimentation, following an iterative trial-and-error approach. To immerse students in this experience, we provide a framework of support to individual students and teams to suit their needs. The subject comprises a set of formal and informal workshops and learning experiences, which will be facilitated in person to support students' learning. UTS staff, peers, invited entrepreneurs, and experts will continually give formative feedback as part of formal mutual learning sessions as students develop their initiatives. Several optional bonus workshops will be customised during the third and fourth weeks to fit student learning needs and wants, as identified during the first two weeks. The subject is complemented by several self-guided modules on specific topics,1:1 expert-in-residence coaching, a team of innovators-in-residence, including Speculative Startup alumni, and regular virtual standups to enable mutual learning and support across students.
Content (topics)
- The role of creative intelligence and making in creating value for actors
- Planning, strategy and competitive advantage for early-stage initiatives
- Collaboration and co-design to create mutual value
- Advanced decision-making
- Applied risk management
- Negotiation and sales skills
- Profit planning and valuation
Assessment
Assessment task 1: Planning report
| Intent: | This assessment aims to help you develop a complex mental model of key factors relevant to the success of entrepreneurial initiatives at the beginning of the subject. This is so that when you pivot and adapt your activities and strategies, you do so with greater awareness of the interdependencies of the complex interplay of factors relevant to each pivot. It will require you to create (i) a tentative business plan(ing) document, including a proposed business model and tentative action plan for a startup/initiative of your choosing, (ii) an individual learning plan for this subject, including a proposed plan for what key activities you plan to engage in throughout the subject in the form of a timetable, (iii) details of your partnering and/or actor co-design and engagement strategy, and (iv) a reflective account of your journey so far, including how and why you chose the initiative you did, what methods and knowledge inspired and supported you, a critical reflection on your role in the initiative you are proposing (such as what you hope to gain), and a self-assessment as to the extent to which you can see yourself pursuing the initiative after the subject is completed. A detailed assessment Brief will be available via Canvas. Students building off earlier projects or other students' work will attach that work as an appendix to enable your assessment to be based on your learning and incremental contribution. |
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| Objective(s): | This assessment task addresses the following subject learning objectives:
This assessment task contributes to the development of course intended learning outcome(s): CII.2.1, CII.3.1, CII.3.2 and CII.4.1 |
| Type: | Report |
| Groupwork: | Group, group and individually assessed |
| Weight: | 30% |
Assessment task 2: Final report and presentation
| Intent: | Conceptually, the final report and presentation showcase the entrepreneurial initiative you are focusing on at the end of the subject (which may differ from the initiative you began in Assessment 1) to enable the entrepreneurial initiative to flourish after completion. Each student will follow an independent journey and have different aspirations, so the nature of this assessment will be discussed with and approved by your mentor. You have significant agency over the design of your final showcase and report so that you can practise engaging authentically in your entrepreneurial initiative. For example, it could take the form of (a) a feasibility study including a mock-up of the product or service, (b) a prospectus and action plan to raise substantial funds, (c) a feasibility study, prototype, and technical drawings and plans for a new product, (d) if a start-up is launched during the semester, a business planning document with sample product or service and report back on your progress, (e) some other substantial work. Ideally, the final report and presentation comprise deliverables necessary for the effective planning, management, and / or success of your entrepreneurial initiative. |
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| Objective(s): | This assessment task addresses the following subject learning objectives:
This assessment task contributes to the development of course intended learning outcome(s): CII.2.1, CII.3.1, CII.3.2 and CII.4.1 |
| Type: | Report |
| Groupwork: | Group, group and individually assessed |
| Weight: | 50% |
Assessment task 3: Learning Portfolio
| Intent: | A detailed assessment Brief outlining specific requirements for each assessment task will be available in UTS Online. Ensure you consult these briefs before you undertake the assessment tasks. |
|---|---|
| Objective(s): | This assessment task addresses the following subject learning objectives:
This assessment task contributes to the development of course intended learning outcome(s): CII.2.1, CII.3.1 and CII.4.1 |
| Type: | Portfolio |
| Groupwork: | Individual |
| Weight: | 20% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks. Students must attempt and submit each assignment task. For any task worth over 40% students must achieve a grade of 40% or more.
Recommended texts
Pecotich, B., 2021. Solve Problems That Matter: Design, Build & Launch Your Social Enterprise Idea, Dynamic4.
Aulet, B. 2017. Disciplined Entrepreneurship Workbook, Wiley
Rose, D.S., 2016. The Startup Checklist: 25 Steps to a Scalable, High-growth Business. John Wiley & Sons.
Osterwalder, A. and Pigneur, Y. 2010. Business Model Generation: A Handbook For Visionaries, Game Changers, And Challengers: Wiley.
Reis, E., 2011. The lean startup. New York: Crown Business, 27.