Outline

Overview

To be a successful innovator or entrepreneur, it is necessary to have knowledge of several fundamental business and organizing processes, along with related skills. In this unit, students learn how to turn creative ideas into viable business opportunities that seed new start-ups or drive innovation within existing enterprises. Students participate in a realistic simulation to create and validate ideas and develop them into sustainable business models addressing real-world commercial and social problems. Experiential learning that draws on a range of contemporary innovation concepts and practices is emphasised, providing students with opportunities to incubate, validate and pitch their ideas for concrete business and social ventures. To facilitate this entrepreneurial process, students work creatively and collaboratively, bringing together skills acquired across other disciplines of study.

Unit details and rules

Academic unit	Strategy, Innovation and Entrepreneurship
Credit points	6
Prerequisites ?	SIEN1000 and SIEN1001
Corequisites ?	None
Prohibitions ?	IBUS2104
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Paulo Da Silva Armi, paulo.armi@sydney.edu.au

Assessment

The census date for this unit availability is 2 September 2024

Details
Criteria

Type	Description	Weight	Due	Length
Participation	Participation and Professionalism Participation and professionalism	20%	Ongoing Closing date: 01 Nov 2024	Ongoing
Outcomes assessed:
Assignment	Project Portfolio Portfolio showcasing innovative business models and strategic analysis	25%	Week 05 Due date: 01 Sep 2024 at 23:59 Closing date: 11 Sep 2024	10-15 slide infographic deck
Outcomes assessed:
Assignment	Reflection Reflective piece showcasing learning journey	20%	Week 10 Due date: 13 Oct 2024 at 23:59 Closing date: 23 Oct 2024	2,000 words
Outcomes assessed:
Presentation	Pitch Presentation Presentation of group-generated solution	35%	Week 13 Due date: 28 Oct 2024 at 23:59 Closing date: 07 Nov 2024	12-15 minute presentation
Outcomes assessed:
= group assignment ?

Assessment summary

Project Portfolio (25%, individual): This assessment asks you to act as an innovation consultant to an existing real-world business of your choice (or as a founder of your own startup, if relevant). Applying the concepts and frameworks introduced in the unit, you will develop two innovative business models for your chosen organisation. You will present concrete ways to implement the recommended business models, supported by a strategic analysis to arrive at these recommendations. This task will include in-depth insights and supporting evidence from the unit’s concepts from Weeks 1 to 5. This will take the form of a slide deck based on infographic content (a mix of text and images) and will present the two recommendations of innovative business models backed by insights.

Reflection (20%, individual): You are required to critically reflect on your learnings from the concepts and theories introduced in the weekly lectures and primer discussions, and benchmark these against insights from (1) your personal experience as an innovation consultant/entrepreneur in your projects, and (2) interactions with your group project client and other real-world innovators and entrepreneurs during the unit of study. You should present in-depth reflective insights and a critical assessment of the learnings from weekly lectures and primers, how they can be implemented in your (group or individual) project and your own (current or future) professional context.

Pitch Presentation (35%, group): In this assignment, you will work as a team of innovation consultants for a real-world startup to propose an entrepreneurial strategy, including two distinct ways to innovate the startup in the short term (the next two years) and the medium term (two to ten years out). To do this, you will apply the concepts and frameworks discussed in the unit and conduct in-depth research and analysis of your startup to develop recommendations that are desirable, feasible, viable and responsible. Your team is required to pitch this strategy to the startup founder and potential investor. The objective is to convince them of how and why your team's entrepreneurial ideas are the most likely to help the startup scale successfully.

Participation and Professionalism (20%, individual): Lectures and tutorials in the unit are designed to be collaborative and participatory. The grade for participation and professionalism includes class attendance, punctuality, in-class contributions, and feedback to peers. In addition to basic attendance at both lectures and tutorials, students are expected to come to class prepared, having reviewed the weekly online modules and completed the online primer discussions. They are required to contribute actively to class discussion, team activities, and their group project work, and also provide constructive feedback to their peers on their individual projects and reflections in class and through the online discussion boards.

Additional details and resources for all assignments will be made available in Canvas and discussed in class.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Distinction	75 - 84	Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Credit	65 - 74	Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Pass	50 - 64	Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

This unit follows the University policy for late submissions. Please refer to the policy online. Failure to submit peer evaluation for the group assessment would result in 0 mark for that individual.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy 2023 reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy 2023. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction & Kick-off - Lecture: Entrepreneurial Creativity and Innovation: What, Why and How? Tutorial: Scope your Entrepreneurial Opportunity	Lecture and tutorial (3 hr)
Week 02	Problem-Customer Fit - Lecture: Innovation Strategy in Turbulent Environments Tutorial: Opportunity Discovery and Key Megatrends	Lecture and tutorial (3 hr)
Week 03	Problem-Customer Fit - Lecture: Innovation and Customer Co-creation Tutorial: Identifying Unmet Customer Needs; Client introduction and briefing	Lecture and tutorial (3 hr)
Week 04	Problem-Customer Fit - Lecture: Open Innovation and Crowdsourcing Tutorial: Problem Definition and Reframing	Lecture and tutorial (3 hr)
Week 05	Problem-Solution Fit - Lecture: Digital Technologies, Platforms and Ecosystems Tutorial: Creative Ideation and Problem-solving; Informal client check-in	Lecture and tutorial (3 hr)
Week 06	Problem-Solution Fit - Lecture: Sustainability, Social Innovation and Social Entrepreneurship Tutorial: Prototype and Test your Value Proposition (No in-person tutorial - Good Friday public holiday; Self-organised project work)	Lecture and tutorial (3 hr)
Week 07	Problem-Solution Fit - Lecture: Business Model Innovation Tutorial: Develop and Validate your Business Model	Lecture and tutorial (3 hr)
Week 08	Problem-Solution Fit - Lecture: From Minimum Viable Product to Minimum Marketable Product Tutorial: Interim Client Pitch and Check-in	Lecture and tutorial (3 hr)
Week 09	Product-Market Fit - Lecture: User Validation, Entrepreneurial Pitching & Storytelling Tutorial: Develop your Go-To-Market Strategy	Lecture and tutorial (3 hr)
Week 10	Product-Market Fit - Lecture: Startup Success Stories Tutorial: Validate your Value Proposition and Business Model	Lecture and tutorial (3 hr)
Week 11	Product-Market Fit - Lecture: Corporate Innovation Stories Tutorial: Craft your Final Pitch	Lecture and tutorial (3 hr)
Week 12	Innovation Beyond Uni - Lecture: When Innovation meets Entrepreneurship in the real world Tutorial: Pitch your Entrepreneurial Idea	Lecture and tutorial (3 hr)
Week 13	Innovation Beyond Uni - Lecture: Professional pathways in Innovation and Entrepreneurship Tutorial: Final Assessment Consultation & Wrap-up	Lecture and tutorial (3 hr)

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. Identify trends and opportunities in the social, technological and market/business landscapes, including understanding users and formulating new venture ideas that have not been explored before
LO2. Construct a market analysis and assess feasibility of a new venture, and design a new business model
LO3. Discuss what an empathic understanding of users and stakeholder is and apply it to their problem in order to identify new value propositions that satisfy user and stakeholder needs and wants in an ethical and responsible manner
LO4. Discuss and apply cognitive strategies that define the mindset of innovators and entrepreneurs
LO5. Demonstrate proactivity in talking with potential users and stakeholders to understand their needs and then testing your proposed solution

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Adding ULOs and Assessments as endorsed by the UoS Subcommittee.

Additional information

Business School Policies

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

SIEN2001: Validating Ideas and Building Ventures

Semester 2, 2024 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect