LO1: Demonstrate how the principles of creativity, innovation and entrepreneurship convert into new processes, products or services.
LO2: Demonstrate awareness of the requirement to understand the needs, wants and behaviour of the various types of potential customers in the marketplace and identify and delivers value proposition to target customer segments.
LO3: Develop the financial forecasts for a new venture- income statement, breakeven, cash flow statement, balance sheet and evaluate these forecasts of financial performance.
LO4: Assess the degree of competition in a market/industry and the likely effect on profitability.
LO5: Apply the concepts involved in developing a planning framework for a new venture and evaluate the key activities involved in the process of starting up a new venture.
By using Sim Venture Validate, you are asked to develop, plan, test, and share entrepreneurial and innovative idea. To do so, you are required to complete the following tasks:
1. You are asked to map out your entrepreneurial idea using the interactive Business Model Canvas within Sim Venture Validate. You are required to build the business model using the 10 blocks of the Business Model Canvas.
2. Identify and test critical assumptions.
3. Present and share a customizable startup portfolio.
4. Download the start-up portfolio by clicking Export button in the Sim Venture platform. You are required to export either pdf OR word file and submit to the module submission link located within this module’s Canvas ‘Assignment’ tab by the specified deadline.
You are required just to submit a start-up portfolio. You are advised to write up to 3,000 words. This word limit does not include the title page, the executive summary, the contents page, tables, diagrams, appendices, or references.
You must include an accurate word count on your title page. Suggested assessment criteria include:
➢ Clarity, consistency, and originality of value proposition(s)
➢ Clear identification of target market segment(s)
➢ Comprehensiveness of market and competitor analysis
➢ Comprehensiveness of research and testing the business idea
➢ Comprehensiveness and accuracy of financial projections
➢ Comprehensive identification of resources required and financing.