Entrepreneurship and Innovation
ASSESSMENT 1: INDIVIDUAL PRESENTATION
DUE: 11PM (AEST) FRIDAY WEEK 2
LENGTH: 2 – 3 MINUTES (+/- 10%)
This assessment provides the opportunity for each student to develop an elevator pitch in relation to an innovation. The key emphasis is on undertaking the creative process to develop an innovation, for which there is a current – or future – market opportunity.
Overview: Students should critically apply concepts and theories from Module 1 to conceive an innovation, which will form the basis of all assessments in this unit. Demonstration of creativity, opportunity identification and the aptitude to succinctly communicate your innovation are the core tasks of Assessment 1.
Creation of an innovation: Key to Assessment 1 is the creation of an innovation. Students should undertake the in-class or recorded Week 1 creativity activities. The process through which you conceive the innovation forms a part of the assessment criteria and should be documented throughout.
The proposed innovation must relate to a new venture and
1. conform to one of the innovation degrees of Matthews & Brueggermann (2015, p. 35) or alternatively within the four specified innovation types of Frederick, O’Connor & Kuratko (2019, pp. 6-7) as detailed in Module 1
2. be focused on the Australian market (please seek approval from your local Academic if you wish to launch globally or in another country)
3. not be associated with an existing business e.g., recommendation of a product line extension
4. have the potential to be realistically commercialised
Task: Drawing on Module 1 content material (especially within 5.0 Elevator Pitch) and additional research, an insightful elevator pitch of two (2) to three (3) minutes is to be produced. The pitch should focus on a chance meeting with a potential investor, relevant to the nature of your innovation, in an elevator (lift).
The recorded video must simulate an elevator pitch and include:
- an opening introductory title of the video identifying an appropriate Angel Investor or Venture Capitalist to whom the elevator pitch is being delivered.
- an effective opening statement/question focused on the innovation to engage the Venture Capitalist/Angel Investor, consistent with their demographics.
- clear, succinct communication of the innovation
- evidence of a commercially viable current, or future, market opportunity e.g. 2022 ABS data identified xx single member households in Australian cities consisting of females over 65 years of age.
- an effective question to be posed to the potential investor that reinforces the opportunity for your innovation. This can form a part of the opening as per (2) above.
- effective verbal and non-verbal communication.
- an effective defense to the question ‘how was the innovation conceived’ from the potential investor, highlighting the venture’s commercial potential.
Logistics: Record the presentation, without the use of PowerPoint slides or other such visual aids, to emulate an authentic chance meeting in an elevator. Ensure that you are fully visible throughout the video. Recommended media includes a recorded Zoom presentation edited using Microsoft Photo or similar programs. The mp4 file, or alternatively a YouTube URL, should then be uploaded to the link located under Assessment 1 in ‘Assessment Tasks and Submissions’ on Blackboard.
Rubric: It is important to consult the Rubric in conjunction with this document. The Rubric is detailed under Assessment within Blackboard and on pages 4-5. The Assessment Criteria overview, detailed below, is a summary only.
Note: Prior to commencing this assessment students are strongly recommended to complete the Academic Integrity Module and Quiz to avoid the embarrassment and penalties of academic misconduct.
Overview of Assessment Criteria
|Assessment Criteria||Weighting of 100%|
|Construct: an innovation for the Australian market through application of creativity and identification of a, current or future, market opportunity.||45%|
|Produce: a two (2) to three (3) minute impactful ‘elevator pitch’, with effective verbal and non-verbal communication, targeting an appropriate Angel Investor or Venture Capitalist.||35%|
|Defend: the innovation’s commercial potential through responding to the question ‘how did you conceive this innovation’ asked by the Angel Investor or Venture Capitalist.|