Commercialising Your Business Idea (11203.2)

This capstone unit examines the multiple pathways that lead from research and innovation domains, through developmental stages, to the creation of wealth and value in markets. The unit allows students to conceptualise roles in converting innovative ideas and research for commercialisation. Value adding at a personal, enterprise and economic levels. Commercialisation develops students' knowledge of what commercialisation is and the resources and competencies necessary to develop and execute. The unit further develops students' collaboration and negotiation competencies and research skills, whilst the students undertaking WIL project.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Integrate previous knowledge, skills and attributes to create or work on with an industry or research partner, innovate, take to market and commercialise an individual project. This can be built on from previous units of study;
2. Apply and evaluate appropriate theories to modern commercialisation environments;
3. Debate and defend ethical issues and reduce risk raised by commercialisation for local and international communities;
4. Enhance and demonstrate collaboration and negotiation competencies and research skills, and funding options;
5. Analyse and apply pathways of commercialisation and distinguish commercialisation organisations, resources and roles; and
6. Demonstrate application and evaluation of creative thinking, theories, models and techniques.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - take pride in their professional and personal integrity
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
2. UC graduates are global citizens - think globally about issues in their profession
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - be self-aware
3. UC graduates are lifelong learners - evaluate and adopt new technology
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development

Prerequisites

Must have completed the following: 11176 Marketing Fundamentals; 11190 Indigenous and Cultural Entrepreneurship; 11198 The Entrepreneurial Mind - Foundations of Entrepreneurship; 11199 Business Start Up Essentials; 11201 Creative and Critical Thinking for Problem Solving; and 11202 Innovation Management.

Corequisites

None.

Incompatible units

None.

Equivalent units

None.

Assumed knowledge

As this is the capstone unit for the Entrepreneurship and Innovation major, assumed knowledge is that the students have undertaken and passed the first 2.5 years of the Bachelor of Business degree (Entrepreneurship and Innovation major).