26835 Venture Launch

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2024 is available in the Archives.

UTS: Business
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

Requisite(s): (26834 Venture Lab AND (36 credit points of completed study in spk(s): C04424 Executive Master of Business Administration OR 18 credit points of completed study in spk(s): SMJ10213 24cp Entrepreneurship Sub-major))

Note

Enrolment into the subject requires approval by the subject coordinator. To register your interest please send an email to: business.mba@uts.edu.au

Description

Students develop a venture based on insights about a clear customer need and market opportunity in this capstone subject. Employing the skills learned throughout the program and guided by the teaching team and experienced advisors, students develop and validate the critical assumptions of their venture, iterate on the offering and business model toward the launch of a minimum viable product. This subject aims to provide student founders with the practical experience of taking a venture from ideation, validation, and iteration to launch. Students also learn how to craft a compelling narrative about their venture towards a formal pitch. The subject challenges students to apply their skills and knowledge of strategic analysis, venture execution and decision-making.

Subject learning objectives (SLOs)

1.	Apply methods and tools of value proposition and business model design
2.	Justify early-stage venture choices by using creative, analytical, and evidence-based approaches
3.	Present an early-stage venture to various audiences

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

• Communicate ideas, decisions and strategies clearly and apply interpersonal skills that are sensitive to diverse people, cultures and contexts (2.1)
• Practice ethical leadership and responsible decision-making to create culturally contextualised and sustainable economic, social and ecological business outcomes (3.1)

Contribution to the development of graduate attributes

This subject focuses on helping students combine a deep understanding of a market and customer context with creative problem-solving, commercialization and communication skills; it contributes to developing the capabilities required for validating and presenting a venture in dynamic and competitive market or funding environments.

This subject contributes to the development of the following graduate attribute(s):

• Intellectual rigour and innovative problem solving
• Social responsibility and cultural awareness
• Professional and technical competence

Teaching and learning strategies

The subject is offered in intensive block mode over two full days, two evening classes and bi-weekly online check-in sessions. Delivery of teaching and learning materials, lectures, webinars and discussions are supported by online learning and communication tools and the UTS learning management system. Students work on their own venture. Classes engage students in discussions and exercises to reflect upon and revise the content.

A formative assessment provides students with feedback to direct their self-study. Ongoing general and individual feedback will be provided throughout the subject. A summative assessment provides feedback on students' comprehension and application of learning. Students also receive formal feedback on assessment tasks.

It is recommended that students engage with a broad range of materials, including relevant chapters in books, videos, practitioner literature, news articles, academic journal articles as well as online learning material. Each learning module provides a collection of readings and background materials. It is expected that students engage with this material before attending class.

Content (topics)

• Effectuation
• Problem/Customer Hypothesis
• Problem-Solution Fit
• Product-Market Fit
• Team and Business Formation
• Sales and Marketing
• Capital Raising
• Pitching

Assessment

Assessment task 1: Progress Report (Individual)

Objective(s):	This addresses subject learning objective(s): 1 and 2 This addresses program learning objectives(s): 3.1
Weight:	30%
Length:	Progress reports have approximately 80-word summaries per action item
Criteria:	Application of entrepreneurship knowledge and concepts Creativity, critical and analytical thinking Evidence based business application and validation Communication and format

Assessment task 2: Presentation (Individual)*

Objective(s):	This addresses subject learning objective(s): 1, 2 and 3 This addresses program learning objectives(s): 2.1
Weight:	70%
Length:	The presentation is no longer than 8 minutes, approximately 15 slides; the extended presentation deck is min 3,500 words.
Criteria:	Problem/Opportunity: Problem is defined and supported with evidence, market opportunity is validated, and key metrics are articulated, competitive landscape is analysed Solution: Value proposition(s) is well developed, clearly articulated and validated; it is clear how the solution works, a business case and model (options) are developed and justified Plan/Next Steps: Status and key accomplishments to date covered, financial projections and Go-to-market plan articulated. Team/Ask: Capabilities match business needs or gaps identified, Ask/Need for funding/support articulated Pitch/Deck/Q&A: Well prepared, rehearsed and delivered within time limits, communicates clearly and coherently incl. Q&A, following a clear narrative and persuasively inspiring the audience. *Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Required texts

Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. 2015. Value Proposition Design: How to Create Products and Services Customers Want. John Wiley & Sons.

Pijl, P., Lokitz, J., & Solomon, L. K. 2018. Design a better business. Wiley.

References

Bland, D. J. and A. Osterwalder 2019. Testing business ideas: A field guide for rapid experimentation, John Wiley & Sons.

Blank, S. and B. Dorf 2020. The startup owner's manual: The step-by-step guide for building a great company, John Wiley & Sons.

Clegg, S., J. Schweitzer, A. Whittle and C. Pitelis 2019. Strategy: Theory and Practice, Sage Publishing.

Maurya, A. 2012. Running lean: iterate from plan A to a plan that works, O'Reilly Media, Inc.

Maurya, A. 2016. Scaling lean: Mastering the key metrics for startup growth, Penguin.

Osterwalder, A. and Y. Pigneur 2010. Business model generation: a handbook for visionaries, game changers, and challengers, John Wiley & Sons.

Read, S., Sarasvathy, S., Dew, N., & Wiltbank, R. 2016. Effectual entrepreneurship. Routledge.

Teece, D. 2010. Business Models, Business Strategy and Innovation. Elsevier Long Range Planning 43 172-194.