Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer / Unit Convener
Abidali Mohamedali
Contact via 9850 9292
F7B-4 Wally's Walk 119
Meeting confirmed by email
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
Admission to MSc or MEng
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit provides students an understanding of the process that an entrepreneur employs to develop an innovative idea into an opportunity for commercialization. Students will acquire the skills to apply sound principles of entrepreneurial strategy to evaluate STEM innovations and to identify critical resources in achieving a successful and impactful outcome. At the end of the unit students will be able to develop a commercialization pitch for presenting their proposals to investors, industry and to the public.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Please refer to the Macquarie University Policies and Procedures, specially with respect to submission of assignments, academic honesty policy, extensions and late submissions.
Name | Weighting | Hurdle | Due |
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Weekly Quiz- Weeks 2-5 | 10% | No | Weekly |
Pitch Part 1 and 2 | 20% | Yes | Week 5 |
Marketing Strategy/Plan | 15% | No | Week 7 |
Business Plan | 30% | No | Week 8 |
Creative Marketing Task | 10% | No | Week 9 |
Impact Report | 15% | No | Week 12 |
Due: Weekly
Weighting: 10%
These early reflection exercises will be a series of short questions to reflect on learning and will be assessed by quality and depth of reflection. Students will be expected to develop their own ideas through a series of processes and submit regular updates via this quiz including justifications and reflections for each step.
Due: Week 5
Weighting: 20%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
This pitch presentation is divided into 2 parts, the first due in week 5 will be worth 5% and the second in week 11 will be worth 15%. This will give an opportunity for students to improve their pitch based on feedback from the examiners. This pitch will be to various stake holders presenting your idea.
Due: Week 7
Weighting: 15%
Students will be required to present a detailed marketing (digital, traditional and social media) strategy as a max 5 page (without references) report. This detailed marketing strategy has to demonstrate depth of thinking and research and has to be well substantiated with elements of real interviews and market research of the product/service/method proposed and enhanced with litrature and scholarly evidence.
Due: Week 8
Weighting: 30%
Present a (maximum 10 page) document detailing the business plan for the company that can be used to give to investors. This report will be submitted as 2 section, one in week 8 will have the value proposition, business model, marketing strategy and plan, and an outline of resourcing. (Part 1 10%)
The final report due in week 13 will contain a complete report including detailed resourcing and IP strategies. This will allow students to develop their business plan with the feedback provided by examiners. (Part 2 20%)
Due: Week 9
Weighting: 10%
Come up with a creative marketing method to deliver the innovative idea (product, method, process) to a wider market. This could involve a video, website, social media page, creative flyers etc. in keeping with the marketing strategy for assignment 3.
Due: Week 12
Weighting: 15%
Submit an Impact report for your proposal (or if insufficiently developed, an impact report of a equivalent idea) with deep and scholarly supported reflections on what worked and what did not and what could be done better.
Aim: This unit provides students an understanding of the process that an entrepreneur employs to develop an innovative idea into an opportunity for commercialization. Students will acquire the skills to apply sound principles of entrepreneurial strategy to evaluate STEM innovations and to identify critical resources in achieving a successful and impactful outcome. At the end of the unit students will be able to develop a commercialisation pitch for presenting their proposals to Investors, Industry and to the public.
Textbook : Readings and reading materials to be provided on iLearn
Main topics with a dedicated focus on STEM will be presented
Timetable: Please check https://timetables.mq.edu.au/2017/default.aspx for the official timetable of the unit.
Technology Used and Required
You are expected to access the unit iLearn web site on a frequent basis and to download all necessary PDF files. To access the unit web site, if you have off-campus Internet access, simply start your web browser and proceed as above for logging in. On-campus wireless access is also available. If you do not have your own computer you may wish to access the FOSC805 web resources on campus using the computers in the Library.
To view the lecture notes and other PDF files on the website, you will require Adobe Acrobat Reader Version 9 or later to be installed on your computer. Acrobat Reader can be downloaded from the Adobe website http://get.adobe.com/uk/reader/. If you are using the computers in the library, then Acrobat has already been installed.
We will also be using ECHO Interactive (from iLEARN) and therefore you will be required to bring your laptop,tablet,smartphone to the lectures.
Please note information may also be sent by email to your student email account so please look at your student email account on a frequent basis.
Unit Web Page
The web page for this unit is at Macquarie's new learning management system website: http://ilearn.mq.edu.au
Login and follow prompts to FOSC 805.
You are expected to access the unit web site frequently (i.e., almost daily). This site contains important information including lecture notes (that you will be expected to access in class), mid-semester exams and/or assignment.
Logging In: Type in the URL http://ilearn.mq.edu.au and find FOSC805. Your username is your Macquarie Student ID Number (MQID), which is an 8 digit number found on your student card. The password is your myMQ Student Portal password. This will be the original MQID password (2 random characters followed by your date of birth in ddmmyy format) that was sent to you on enrolment, unless you have already changed your password in the myMQ Student Portal. If you experience difficulties in getting your reprint or your password, please contact the StudentIT Desk (ph: 9850 6500).
FOSC805 is a 3-credit point half-year unit and will require an average of 9 hours of work per week (contact hours plus self-study time).
FOSC805 consists of:
The lecture material and tutorial complement each other and have been developed to increase your understanding of the topics so you can achieve the learning outcomes.
The purpose of tutorials will be to develop higher level critical thinking skills in students and teach contemporary skills.
The unit coordinator’s expectation is that you will:
· Attend all interactive lectures. If you cannot attend a lecture, you are expected to listen to the iLecture as soon as possible after it is made available.
· Demonstrate reasonable competence in all exercises exercises and attend and participate in each class/tutorial.
· Perform satisfactorily in all assessments.
· Spend an average of no less than 2 hours per week of private study in addition to direct contact.
If you prepare and attend all components of the unit and work consistently/continuously throughout the semester, you should be able to develop a strong understanding of leadership and develop strategic skills to help you achieve greater goals post study.
You are expected to use the lecture materials in the lectures (or bring them) so you can spend most of the time listening rather than transcribing. The lectures are interactive and you will be expected to have input in polls and discussions. Do not assume notes or iLectures are in any way a suitable substitute for attending lectures – lecturers from all departments put an effort into making the lectures up to date and relevant.
Learning is an active process, and as such you must engage with the material. This means downloading and reading lecture notes and case studies completing reflection exercises and participating in poll questions online.
Week |
Date |
Lecture |
Topic |
Speaker |
Tutorial topics |
Assignments due |
1 |
3rd Aug |
1 |
Introduction (brief revision of FOSC 804) |
Abidali M |
Hackathon – Conception and testing of business idea |
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2 |
Entrepreneurial Thought and Science- |
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2 |
10th Aug |
3 |
The psychological portrait of an entrepreneur |
M Baker |
Effective Science Communication |
Week 1- Quiz |
4 |
The Innovation process |
Business plan development |
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3 |
17th Aug |
5 |
Recognition of opportunities for enterprise in science |
CSIRO |
The Art of the Pitch – Business idea pitch/elevator pitch- Practice |
Week 2- Quiz |
6 |
Mission, vision and aims of a science enterprise |
Pitch to industry, investors, public servants, public, social media.. |
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4 |
24th Aug |
7 |
Internal and External characteristics of a science enterprise |
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Lean Canvas – Impact Canvas |
Week 3- Quiz |
8 |
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5 |
31th Aug |
9 |
Establishing a new science enterprise – considerations and hurdles |
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Value Proposition development |
Week 4- Quiz |
10 |
Assignment 1- Pitch PART 1 |
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6 |
7th Sep |
11 |
Marketing 101- Basic Marketing principles. |
June Buchanan |
Market Identification/ strategies |
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12 |
Interviews |
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7 |
14th Sept |
13 |
Economics 101- Basic economics principles for science entrepreneurs |
FBE |
Media training for science/entrepreneurs- Media Dept MQ uni |
Assignment 2- Submit marketing plan/strategy (15th Sep) |
14 |
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Mid Semester Break |
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8 |
5th Oct |
15 |
LAW 101 – Legal requirements for businesses |
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Lean and Agile management techniques
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Assignment 3: Business plan Part 1 submitted (6th Oct) |
16 |
LAW 101- IP law |
IP Australia |
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9 |
12th Oct |
17 |
Getting capital – Venture capital/grants etc. for science |
Blackbird VC |
Entrepreneur tools (resources, crowdfunding, advertising etc.) |
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18 |
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10 |
19th Oct |
19 |
Accounting 101 – Bookkeeping, financial management |
FBE |
Accounting Tutorial |
Assignment 4- Creative marketing task |
20 |
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11 |
26th Oct |
21 |
Managing a science enterprise |
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22 |
Assignment 1- Pitch PART 2 |
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12 |
2nd Nov |
23 |
How to be an intrapreneur |
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Discussion of the results of independent work in the development and implementation of a business idea. |
Assignment 5- Reflection Exercise/Impact report |
24 |
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13 |
9th Nov |
25 |
Revision and review |
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Reflections and outcomes |
Assignment 2- COMPLETE business plan submitted (10th Nov) |
26 |
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Exam Session |
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Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.
This graduate capability is supported by:
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Our postgraduates will be able to communicate effectively and convey their views to different social, cultural, and professional audiences. They will be able to use a variety of technologically supported media to communicate with empathy using a range of written, spoken or visual formats.
This graduate capability is supported by:
Our postgraduates will be ethically aware and capable of confident transformative action in relation to their professional responsibilities and the wider community. They will have a sense of connectedness with others and country and have a sense of mutual obligation. They will be able to appreciate the impact of their professional roles for social justice and inclusion related to national and global issues
This graduate capability is supported by:
This unit has never been offered in the past.