COMMERCIALISING INNOVATION

EMS4COI

2018

Credit points: 15

Subject outline

This subject provides an opportunity to work within a team to develop, plan and evaluate an idea for a new emerging engineering based business. Emphasis is placed on the development of commercial awareness skills, analysis of new ideas, presentation, report writing and the relationship between innovation and commercial exploitation. Each group will take on the role of being 'an innovative engineering based small firm', going through the challenges and stages of commercialising an engineering project. This subject is designed to enhance student employability. At the conclusion of the subject, students will have an understanding of the commercialisation process in engineering innovation; be able to undertake research and market analysis for new engineering innovation; evaluate opportunities for a new engineering innovation; construct and present an outline business plan for the commercialisation of a new engineering innovation; and reflect on their own ability to contribute effectively to group activities and manage their own time and resources in working towards group goals.

SchoolSchool Engineering&Mathematical Sciences

Credit points15

Subject Co-ordinatorJim Whittington

Available to Study Abroad StudentsYes

Subject year levelYear Level 4 - UG/Hons/1st Yr PG

Exchange StudentsYes

Subject particulars

Subject rules

Prerequisites EMS2ITI and (EMS2BSE or EMS2EEP)

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsManaging Innovation: Integrating Technological, Market and Organizational ChangeRecommendedJoe Tidd, John Bessant 2013Wiley
ReadingsEntrepreneurship and Innovation 2nd Ed.RecommendedMazzarol, T. 2011Tilde University Press
ReadingsEngineering Innovative Products, A Practical ExperenceRecommendedMurphy, J, Hermon, P., Rafferty, K. and Woods, R. 2014Wiley

Graduate capabilities & intended learning outcomes

01. Understand the commercialisation process in engineering innovations.

Activities:
Lectures and Tutorials

02. Undertake research and market analysis for a new engineering innovation.

Activities:
Lectures, Tutorials and Workshops

03. Evaluate opportunities for new engineering innovations.

Activities:
Lectures, Tutorials and Workshops

04. Construct and present an outline business plan for the commercialisation of a new engineering innovation.

Activities:
Lectures, Tutorials and Workshops

05. Reflect on the ability to contribute effectively to team activities and manage their own time and resources in working towards team goals.

Activities:
Workshops

Subject options

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Start date between: and    Key dates

Melbourne, 2018, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorJim Whittington

Class requirements

Lecture Week: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Tutorial Week: 31 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

WorkShop Week: 31 - 43
One 2.0 hours workshop every two weeks on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
10 Online Quizzes (equivalent to 100 words per quiz)20 01, 03
6 Individual Workshop Summary Reports (equivalent to 100 words per report)10 01, 02, 03
One 2 minute Individual Business Pitch (equivalent to 250 words)10 02, 03, 04
Innovation Portfolio (Team contribution 5000 words + Individual contribution 1000 words per student)5 students per team. Each student receives an individual contribution mark (50%) and a team contribution mark (50%).40 01, 02, 03, 04
Four reflective journals (equivalent to 500 words per journal)20 01, 05