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This subject is available as an elective in many of the Melbourne School of Engineering's Masters programs. It is aimed both at students who have immediate entrepreneurial intentions and at students who may be considering starting their own business at some point in their careers. The subject is designed to introduce all participants to their potential as entrepreneurs. By developing their own enterprise proposal within small groups, students will learn and demonstrate various processes by which successful new ventures move from idea to launch.
Business modelling, opportunity analysis, value creation, financial management, sources of finance, creativity, innovation, entrepreneurial behaviour, successful engineering entrepreneurs.
The teaching method is based around a structured process of mini-lectures, class exercises, and active hands-on learning by doing. Intensive field research and minimum viable product development are very important to the subject. Learning is further enhanced through meetings with the lecturer and review by peers.
Intended learning outcomes
On completion of this subject the student is expected to be able to:
- Describe, explain, and apply the major concepts and theoretical frameworks that explain entrepreneurial behaviour and success
- Create, identify, validate, and pursue opportunities for new businesses
- Prepare, present, test, and utilise a scalable, repeatable business model to create a new venture
- Identify the sources of finance for new ventures, and be able to sell a business concept to potential funding sources
- Create value for themselves, investors, customers, employees, and society as a whole by working on a business and not just in a business
- Awareness of the fundamentals of business planning and financial management
- Capacity for creativity and innovation
- Ability to use a systems approach to solve complex problems
- Ability to communicate effectively with the engineering team, the commercial team, potential customers, and the community at large
- Ability to manage information and documentation
- Ability to function effectively as an individual and in multidisciplinary and multicultural teams
- Capacity for lifelong learning and professional development.
Last updated: 10 September 2021