New Venture Creation: Validation (MGMT90286)

The purpose of this subject is to further develop the ideas explored in the subject New Venture Creation: Initiation and conduct validation to launch a viable entrepreneurial venture. Students are expected to work according to their entrepreneurial interests and to extend learning from Semester 1. The project is best done in teams of 3-4 students but can also be done individually or in pairs with permission of the instructor.

During the subject, students will learn how to test and validate their business idea, develop a minimum viable product (MVP) and iterate using feedback from customers and other stakeholders. In addition, they will learn to develop a market entry strategy that takes into account competitors and collaborators. Students also learn pitching skills to communicate their ideas, with the goal of persuading investors and acquiring resources for growth. In this process, students learn skills to establish viability of their entrepreneurial concepts and pivot their initial models.