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New Enterprise Creation

This subject is available under ICMS undergraduate degrees, please click the button below to find an undergraduate course for you.

Subject Code:


Subject Aim:

This subject will enable a student to discover their unique talent for entrepreneurship as well as those other human factors that are needed for the success of a new venture. The subject leads students through the process of taking an idea to an opportunity and then commercialising and facilitating the new venture. Critical factor evaluation is described and the steps needed to secure venture capital are examined. Students will develop individual critical and analytical skills necessary to form and then launch a viable and sustainable new venture.

Learning Outcomes:

  • Develop concepts for evaluating a personal entrepreneurial strategy.
  • Articulate the Timmons Model of the Entrepreneurial Process; describe how it can be applied to your entrepreneurial aspirations and ideas for businesses; and describe how recent research confirms its validity.
  • Discuss and apply to your ideas the five facets of looking through a sustainability lens, and describe their impact on opportunity assessment, resources and the team.
  • Define and evaluate ideas using the concept of ‘the differences between ideas and an opportunity’, and assess the opportunity using the criteria used by successful entrepreneurs, angels and venture capital investors in evaluating potential ventures.
  • Demonstrate potential to pursue an enterprise through a business plan, and determine whether your strategy can create a good fit and an attractive risk-reward balance for you and your investors.
  • Prepare and present a pitch for the proposed new venture to a potential investor audience

Student Assessment:

Exams will take place in weeks 12 & 13. Please refer to the official Exam Timetable for further information.