New Venture Creation - Basic

2023/2024

Content, progress and pedagogy of the module

The module is based on a mixture of activities, including lectures, workshops, seminars, as well as creative and team-based processes, which are facilitated by lecturers. The module will include weekly lessons-learned presentations and written assignments, which all are related to the entrepreneurial process of creating new business activities within existing organizations.

The main topics are:

Opportunity spotting and Customer Development
Identify/create business opportunities; research, analysis and market evaluation, customer insight and quantitative data, creative processes, and design-thinking, running experiments to test hypotheses on the market.

Team building, negotiating, and networking
Identifying competences and assembling your team, establishing value chains and strategic partnerships.

Business modelling
Value proposition design and business model design, i.e., value creation, value delivery, value capturing.

Product/service development, management, and business planning
Strategy, marketing, finance/funding, valuation techniques, analysis of key risk and scenarios, legal aspects, IP.

Reporting, presenting, and pitching
New business idea/business plan to company sponsors.

Learning objectives

Knowledge

The objective is that the student after the module possesses the necessary knowledge on:

  • verifying business ideas/problems and validating needs/pains from customers, including assessing potential market opportunities and validating assumptions regarding the target market.
  • understanding some of the key drivers that impact upon the successful creation and management of a new venture (in a separate entity or within an existing organisation.
  • appreciating the importance of business models, customer development and agile development in the process of new venture creation/corporate venturing.
  • understanding fundamental aspects of sustainability, hereunder the UN sustainability development goal, in connection to entrepreneurship and business development.

Skills

The objective is that the student after the module possesses the necessary skills in:

  • generating new business ideas and validating these, including, and assessing the resources required to pursue an opportunity. This includes critically assessing new business ideas based on evidence from the market and to prototype a Minimal Viable Product.
  • incorporation of sustainability drivers and development of sustainable business models.
  • understanding and mastering various physical and digital tools for MVP/MVE prototyping hereunder visualization tools, presentation tools, landing page, platform, and video editing.
  • understanding the skills and resources needed to create an entrepreneurial organisation further apprehend different business model configurations and business model innovation routes in the entrepreneurial process.

Competences

 The objective is that the student after the module possesses the necessary competences in:

  • creating business opportunities and further understanding how to acquire necessary resources to pursue the identified business opportunity.
  • designing business models to match the identified business opportunity, evidence from the market (and the host company).
  • pitching the business model of a new venture, the underlying validation process, and its academic relevance.

Type of instruction

For informaton see §17.

Exam

Exams

Name of examNew Venture Creation - Basic
Type of exam
Written or oral exam
ECTS15
Assessment7-point grading scale
Type of gradingInternal examination
Criteria of assessmentThe criteria of assessment are stated in the Examination Policies and Procedures

Facts about the module

Danish titleNew Venture Creation - Basis
Module codeKAØKS202250
Module typeCourse
Duration1 semester
SemesterAutumn
ECTS15
Language of instructionEnglish
Location of the lectureCampus Aalborg
Responsible for the module

Organisation

Study BoardStudy Board of Economics and Business Administration
DepartmentAAU Business School
FacultyFaculty of Social Sciences and Humanities