Overview

The aim of this unit is to develop a plan in preparation of launching a new business venture. Students working individually or in groups, develop a real business concept building on lean start-up and design thinking principles, start-up financial planning, and design methodologies for testing and prototyping new products. Students are expected to develop an investment memorandum and be prepared to pitch their proposal to an investment panel composed of entrepreneurs, investors and start-up advisors.

Requisites

Prerequisites

200 credit points

Teaching periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date
Semester 1
Location
Hawthorn
Start and end dates
03-March-2025
01-June-2025
Last self-enrolment date
16-March-2025
Census date
31-March-2025
Last withdraw without fail date
24-April-2025
Results released date
08-July-2025
Semester 2
Location
Hawthorn
Start and end dates
04-August-2025
02-November-2025
Last self-enrolment date
17-August-2025
Census date
31-August-2025
Last withdraw without fail date
19-September-2025
Results released date
09-December-2025

Learning outcomes

Students who successfully complete this unit will be able to:

  • Apply the principles of lean start-up and design thinking to develop and evaluate product ideas
  • Adopt design methodologies to test and prototype a new product idea
  • Develop a real business concept incorporating a realistic financial model
  • Work individually or collaboratively in order to articulate a line of reasoning demonstrating cultural/social sensitivity and a framework for ethical reasoning

Teaching methods

Hawthorn

Type Hours per week Number of weeks Total (number of hours)
On-campus
Class		2.00 12 weeks 24
Online
Lecture		1.00 12 weeks 12
Unspecified Learning Activities (Phasing out)
Independent Learning		9.50 12 weeks 114
TOTAL150

Assessment

Type Task Weighting ULO's
PresentationIndividual 20 - 30% 1,2 
ReportIndividual 20 - 30% 1,2 
Report and PresentationIndividual/Group 40 - 60% 3,4 

Content

  • Opportunity identification and evaluation
  • Market evaluation
  • Lean start-up principles
  • Design thinking principles
  • Unique value proposition (UVP)
  • Minimum viable products (MVP)
  • Product development plan
  • Business model
  • Route to market
  • Financial modelling, including income statements
  • Investment memorandum
  • Terms sheet
  • Pitching

Study resources

Reading materials

A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.