Required
Description: 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 document which clearly describes your innovative idea or business concept and its value proposition (why is this important?).
a. Word limit 500 to 750 words Business report style and include a concept statement refer template week 5.
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.
a. Word limit 2,000 words. Refer to template and example in Moodle
b. The plan must include a competitor and industry analysis. Use Porters five forces model to analyse industry in which you intend to market the concept.
c. Please research your concept for potential competitors use the competitor analysis tools
3. Prepare and deliver a"pitch" presentation for potential investor s to be undertaken in week 11 AND 12.The team should be prepared to answer questions in relation to your funding request.
Requirements
Each group will be required to complete and submit the following documents
1. A concept scope document due week 6 close of for submission in Turnit in 15th April
2. A business plandue week 9 close of for submission in Turnit in 20th May
3. A presentation to obtain finance for the project with potential investors 10 to 15 minutes approximately 10 slides