Technological Innovation and Entrepreneurship G (11530.1)

This unit will present the concepts and principles of innovation and entrepreneurship, in both Information and Communication Technology (ICT) and Engineering context. Innovation will be explained as the process of introducing changes that add new values to an organisation, whilst entrepreneurship will be presented as the risk-taking appetite of systematically searching for opportunities arising from innovation and transforming those opportunities to deliver commercial benefit to the organisation and value-add to the broader communities.

Innovation concepts and principles will be covered with innovation sources and types, innovation processes, and innovation management. The creation of an innovation culture will also be considered from the standpoints of leadership focus and organisational structure, together with promoting an innovative and ethical culture.

The concepts and principles of entrepreneurship, and also intrapreneurship, will be introduced with a focus on the entrepreneurial environment and the new-venture creation processes, including due consideration of associated risks and the pathways to new company start-ups in accordance with the associated legal frameworks and an introduction to business, finance and operational plans, plus pitching to potential investors and utilising strategic networks.

The unit also covers the needs for new ventures to transform their creativity and innovation potentials into market values, competitive edges, and the value propositions. The protection and management of Intellectual Property (IP) will also be addressed.

This unit may utilise guest speakers and industry case studies.

This unit may be co-taught with the undergraduate version of the unit 11408 Technological innovation and Entrepreneurship.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Describe the basic elements of innovation, entrepreneurship and commercialisation;
2. Describe the basic elements of innovation and commercialisation;
3. Appraise decision making responsibilities at the interface between business and innovation;
4. Assess the dynamics of collaborative teams to work effectively within a team to accomplish tasks within given deadlines; and
5. Explain start-up company pathways, including legal structures, legal obligations, taxation and book keeping, and ethics and social responsibility issues etc.

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

None.

Corequisites

None.

Incompatible units

11408 Technological Innovation and Entrepreneurship

Equivalent units

None.

Assumed knowledge

None.