Universiti Teknologi Malaysia
IT ENTREPRENEURSHIP
SCM 4223/SCD4763
Lecturer: Nor Hashim Abu Samah Date:
24 Nov. 2012
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Business Idea Competition
The Pitch:
UTM is planning to
conduct a Business Idea Competition among its undergraduate students which will
be announced soon. The winner will be representing UTM to compete at the national
level among all other IHLs in Malaysia. The final round presentation will not
only be judged by several business & technology experts BUT will also be
observed by several reputable companies or Venture Capitalists who might want
to fund the idea to commercialization.
The Task:
Each group is
required to suggest a business idea of an IT related Product to be offered to the market. Brainstorm among your group members
& plan for the execution of the project.
Use the attached guidelines to help you in focusing and
developing your business idea. Only ONE business idea is
required. Make sure you have your facts
& figures to support your arguments / claims. Pay particular attention to the details
of your explanation. Prepare a business idea proposal for the competition
above. Display your work in the Group’s Portal
created earlier.
Hint:
A winning Idea usually have characteristics such as: ability
in solving significant real-life problem, needed & demanded by the mass –
not just a few specific groups of people, it is unique, new & novel, it is
also creative & innovative, should comply to certain unique & strong
business strategy (such as The Blue Ocean strategy), effective proposal writing,
it portrays strong management team, realistic business model, knowledge of the
industry & competition, powerful & convincing presentation…. just to
name a few …..
Guidelines:
1. Business Idea & Executive Summary
a.
Business
Idea description is complete, comprehensive and adequately covers overall business
proposition.
b.
Executive
Summary adequately articulates all relevant and pertinent issues related to the
overall business proposition.
2. Product
Description
a.
Description
of problem, gap or business opportunity.
b.
Demonstrates
ability to deliver customer value or value proposition.
c.
Displays
uniqueness / novelty of technology usage proposition.
3. Market and Competition
a.
Identify
specific target market.
b.
Good
analysis of the competition and industry.
c.
Identify
marketing plan and sales strategies.
4. Commercial
Viability
a.
Possesses
potential to go-to-market for product commercialization to secure
investor to funding.
5. Overall
Presentation
a.
Demonstrates
teamwork and ability to articulate overall value proposition.
b.
Adequately
presents and discusses Key Points presented in Business Idea document.
