Assessment 3: Idea Selection and Business Pitch
This is a group assignment that builds on the work completed in Assessment 2.
The objective of Assessment 3 is to develop skills that enable you to evaluate which idea (from Assessment 2) has the highest chance of success, and to then prepare a pitch that presents a compelling business case to secure financial backing. This facilitates an appreciation of what potential investors will be evaluating before they commit to project investment.
In summary, there are two parts to Assessment 3. The first requires the group to prepare a 1500-word business report that compares then selects which business idea to present from Assessment 2. The second involves everyone in the team pitching the idea to secure development capital. Each of these is detailed below:
Idea Selection (15%)
The structure of 1500-word business report should be set out as follows:
- Idea Evaluation (Develop an evaluation framework to compare the ideas developed individually in Assessment 2)
- Idea Selection (Describe and justify how the best idea was selected)
- Improvements (Identify any gaps that need to be addressed before the idea is pitched to an investor)
- Revised Business Model (Amend the business model canvas to incorporate the above revisions)
- Cash flow projections (Prepare ‘best case’ and ‘worst case’ cash flow projections for the first two years. Remember to state your assumptions about the key drivers of cash flow in each scenario)
Minimum six scholarly references are required for the report.
American Psychological Association (APA)
The Pitch (25%)
Using Zoom, record a (maximum) 10-minute PowerPoint presentation that explains and sells the business idea to potential investors and customers
Each team member must present their aspect of the pitch in no more than 3-minutes.
The pitch should be structured to include the following:
- Overview of the proposed venture idea and underlying business model
- More detailed explanation of:
- the problem solved;
- how the idea is monetised;
- financial feasibility (Key Ratios: Break-even point and ROI);
- operational feasibility; and
- scope and scalability of the idea for commercialisation.
- What you are seeking from the investor
- What you are offering in return
- Cash flow projections for the first two years.
Provide references where need. There is no specific requirement in terms of number of references for PowerPoint.
On behalf of all group members, the group leader is required to upload to Moodle the 1500-word business report selecting the idea, a video recording of the pitch using Zoom, and the PowerPoint used.
Return Date to Students
The assignment will be returned after finalisation of grades.
40%- Assessment 3: Idea Selection and Business Pitch
Idea selection (15%) will be assessed on the following criteria:
- Develop an evaluation framework to compare the ideas that were developed individually in Assessment 2 (20%)
- Describe and justify how the best idea was selected (20%)
- Identify any gaps that need to be addressed before the idea is pitched to an investor (20%)
- Revision of the business model canvas to incorporate the above (20%)
- Prepare ‘best case’ and ‘worst case’ cash flow projections for the first two years (20%)
Presentation pitch (25%) will be assessed on the following criteria:
- Overview of the proposed venture idea and underlying business model (10%)
- More detailed explanation of:
- the problem solved (5%);
- how the idea is monetised (5%);
- cash flow projections (positive or negative) first two years (15%);
- financial feasibility (Key Ratios: Break-even point and ROI) (5%);
- operational feasibility (5%); and
- scope and scalability of the idea for commercialisation (5%).
- What you are seeking from the investor (10%)
- What you are offering in return (10%)
- Presentation was creative and persuasive (10%)
- Presentation demonstrated commercial acumen (10%)
- Evidence (references) supporting the idea are provided in the Notes sections of relevant PPT slides (10%)
Learning Outcomes Assessed:
- Define and apply key concepts of innovation in commercial, digital, service, and social contexts
- Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles
- Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic
- Identify and discuss the technical, financial and organisational constraints to innovation in markets that occur in real-life through the use of teamwork and brainstorming.
- Cognitive, technical and creative skills
- Ethical and Professional Responsibility