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BBM 310 Innovation And Entrepreneurship

tag 0 Download 12 Pages / 2,855 Words tag 19-07-2021

Question:

With members of your group you are to develop an innovative business concept and want to start a new business venture and you are looking for funding. In order to secure funding you are required to present your innovation and develop a business plan. Your innovation can be from any of the following industry fields including but not limited to: education, healthcare, logistics, not for profit etc.

It is recommended that your concept be either the development of an application or a commercial website or a business idea that does not involve manufacturing or a large investment of cash.
Report Tasks
1. Prepare a concept scope document which clearly describes your innovative  idea or business concept and its value proposition (why is this important.
2. Prepare a business plan (see Week 6) that presents your innovation for new  business venture. This must include a financial forecast for the first year.
The plan must include a competitor and industry analysis. Use Porters five forces model to analyse the industry in which you intend to market the concept.
Research your concept for potential competitors. Use the competitor analysis tools
3. Prepare and deliver a “pitch” presentation for potential investors to be undertaken in Week 11 and 12.
It is a presentation to obtain finance for the project from a potential investor (your Lecturer).
10 minutes maximum and include approximately 10 slides.
The group should be prepared to answer questions in relation to your funding request. 
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