Mentoring (update and guidelines)

Just a quick update today that we're looking at the next generation of mentoring opportunities at UNSW. We have two programs in the works: mentoring for coursework, and mentoring for competitions.

For STRE2010 and STRE5607, one semester I manually paired students up with mentors, the next I coached them to network and find their own (see mentoring blog post). This coming session, I’m inclined to do both. Start them off with finding their own, and then invite additional mentors. Students then learn to not sole-source their feedback, and mentors get to know other mentors. As a result, we now have an updated set of Mentor Guidelines.

For the Peter Farrell Cup (update coming soon), where teams compete for prizes, we’re planning on pairing participating teams in the Peter Farrell Cup with mentors.

If you are interested in mentoring teams for coursework, or for the competition, please contact us at cie@unsw.edu.au.

Final pitches for STRE2010/5607 this Tuesday

Come one, come all. This Tuesday we are having the final pitches for the students of STRE2010 and STRE5607. Earlier versions of many of the pitches can be seen on youtube, by searching for the course code:  http://www.youtube.com/results?search_query=stre2010&aq=f

Last minute changes may apply. With 28 teams, there is only enough time for 3-minute pitches and 2 minutes of Q&A.

Session 1: 1200-1330 in Biomedical Theatre D (just to the right of the entrance off Botany St)

Starting time Randomized Team Order   

12:10 Intro

12:15 Team 8 - Fill N Go    

12:18 Q&A    

12:20 Team 9 - Schmextbooks (Teebii)    

12:23 Q&A    

12:25 Team 11 - Ignite Health    

12:28 Q&A    

12:30 Team 1 - Batter Up!    

12:33 Q&A    

12:35 Team 21 - Etext    

12:38 Q&A    

12:40 Team 7 - Fit Buddy    

12:43 Q&A    

12:45 Team 5 - Social Scene (Easy Shopper)    

12:48 Q&A    

12:50 Team 26 - Q-Hop    

12:53 Q&A    

12:55 Team 20 - Prestige Worldwide    

12:58 Q&A    

13:00 Team 14 - HD    

13:03 Q&A    

13:05 Team 15 - Tramble    

13:08 Q&A    

13:10 Team 27 - SydneyCycle    

13:13 Q&A    

13:15 Team 12 - Headfirst (Smartmouth)    

13:18 Q&A    

13:20 Team 28 - Togethr    

13:23 Q&A    

13:25 Wrap-up Session 1  

Session 2: 1700-1830 in Biomedical Theatre D (just to the right of the entrance off Botany St)

Starting time Randomized Team Order   

17:10 Intro    

17:15 Team 3 - Gamma (Maptic)    

17:18 Q&A    

17:20 Team 18 - Paradigm Breakers    

17:23 Q&A    

17:25 Team 22 - Influx    

17:28 Q&A    

17:30 Team 6 - Blitz Solutions    

17:33 Q&A    

17:35 Team 23 - SocialEyes    

17:37 Q&A    

17:39 Team 25 - Designerama    

17:41 Q&A    

17:43 Team 2 - UniBoard    

17:45 Q&A    

17:47 Team 4 - RayAura    

17:49 Q&A    

17:51 Team 17 - Easy Translator    

17:53 Q&A    

17:55 Team 24 - BarFly    

17:57 Q&A    

17:59 Team 19 - SuperParkTeamWinners    

18:01 Q&A    

18:03 Team 13 - Sleepod    

18:05 Q&A    

18:07 Team 16 - Infinite Loyality Solutions    

18:09 Q&A    

18:11 Team 10 - Glu10 Free    

18:13 Q&A    

18:11 Wrap-up  

Disclaimer:

Most of these students are working on ideas that are only for course credit. However, that shouldn't stop anyone from providing solid business advice that they can learn from to apply to whichever idea they are working on.

Actual projects include:

• Togethr (http://togethr.at/): final pitch in Tuesday evening
• Schmextbooks / Teebii (http://bit.ly/kaOlIH): Pitch #2 in the first session
• Eye dropper (http://bit.ly/lSeWO3): Student in the course, but working on a different idea with his team
• The Entrepreneurial Chase (http://bit.ly/lg9NJ7): Student in the course, but working on a different idea with his team

Other notable outcomes:

• TaxiApps: Winners of the Peter Farrell Cup and JHEC (http://bit.ly/l0vTjn), now looking for beta users (http://bit.ly/kEnHKD)
• Mijura: Presenter at CIE’s 2010 PitchFest, now live (https://mijura.com/company/index)

Coming soon: an update on mentoring and an update on innovative work placements (internships) for Diploma in Innovation Management students

updated simple financial template

After 2 terms of using the simple financial template in my undergraduate class on entrepreneurship (STRE2010 at UNSW), I think I have ironed out all the wrinkles, removed unnecessary bells and whistles and kept only the good stuff. HERE IT IS: simple-template.xlsx

The "statements" tab have almost powerpoint-ready overviews of the income statement, balance sheet and cashflow statement. The comments on the margins help guide users through the necessary entries to customize the model.

The "reality check" tab provides some basic ratio analysis to breakdown where the major expenditures are and helps assess if areas of the forecasted growth make sense.

The "valuation" tab helps come up with a valuation that's better than one picked out of thin air. Nonetheless, for start-ups with no running history, this can be a major challenge and point of negotiation when dealing with more financial-return minded investors.

I'll leave it up to you to create visual charts that do a better job of emphasizing the numbers relevant to your opportunity.

Seeking: Entrepreneurs and Undergrads in Sydney

We are about to kick off another term at UNSW in Sydney, including my course "STRE2010: Principles & Practice of Innovation & Entrepreneurship" The course textbook is Guy Kawasaki's Art of the Start which is available in most bookstores. Last term, the top reasons that students were interested in the course were because of the guest speaker entrepreneurs and interdisciplinary group work. Guest speakers mean you get the real deal on how companies got off the ground, not just a list of theoretical things to look out for. And, group work resembles the real world, in which a company's performance depends on people with different backgrounds working together.

Undergrads: Take STRE2010. Enrollment is already half-full. It's a Gen Ed course, too! Deliverables are:

• 4-page business outline
• 3 and 5 minute business pitch
• 2 mid-terms

Entrepreneurs:

• Be a guest speaker! Meet the next generation of entrepreneurs, coach them, invest in them, hire them as interns, become inspired.
• Get a business pitch for your company. This term, I am exploring pairing teams up with entrepreneurs who have a business idea that needs a little more meat on the bones. This will be an option for teams who are struggling to come up with their own idea.

See you in a few weeks.

mbliemel@unsw.edu.au

PS: Already taken STRE2010? Looking for more at UNSW? Check out STRE3001, Managing Business Strategy.