Project Description:

The practical component of the engineering practice was based on practical entrepreneurship training to ensure that as students you are able to commercialise the technical engineering knowledge that has been acquired over the years of student. During this training, students received training on some key aspects of creating and managing small businesses. For your final project in this module, you are required to form a group of 4 students per group. In your group, your task is to come up with and discipline specific engineering based business idea in order to write a business plan that will describe the business profile and how you intend to successfully manage the business.

In your business plan, the following aspects need to be clearly elaborated:

1. Business Concept: what is the business all about,
2. Business vision, mission, and objectives
3. Market and business: Summary of the overall market targeted (market niche) and the business offering,
4. Core products and/or services offering,
5. Competition and competitive advantage: Summary of main competitors and what the businesss competitive advantage over the competitors will be,
6. Revenues and Profitability: Summary of projected revenues, profits, and cash flow.
7. Financing Requirement: summary of financing requirement, the form it will take, your own contribution, and the projected return On Investment (ROI)

Besides these 7 required aspects, you are encouraged in your group to be as creative as possible and add any other aspect that you find important in your group.

After submitting your business plan, you will be required to present (pitch) your business plan to a panel of assessors and each group member must present a portion of the total work done, and each person will be marked based on their presentation and how they answer the questions asked by the assessors.

Rubrics and requirement of the project

When working on your project, the following guidelines need to be followed:

1. Plan your work properly and determine what task each person will be responsible for,
2. Determine the portion of the project that will need the whole team to work together, and the tasks that each group member will work on their own.
3. Each person, after completing their task, will be required to present their part of the work, and will be marked according to that.
4. Group members need to work on their tasks and submit to the group at the exact time determined by the group; groups leaders should report any group member who does not do their task or who submit their task late.
5. The compiling and presentation of each section of the business plan should be led by the person responsible for the task.
6. Each person is required to conduct thorough research about their task and provide informative report.
7. As part of your market analysis, you are required to provide a section where you highlight business opportunities that exist within the virtual reality and Plan A Simulation game technologies, to which you have been exposed during the program.