Exam 1

Software Entrepreneurship Project Plan

In order to undertake this examination, you first have to find an idea of a software product or service that you would be willing to commercialize. Examples of such ideas can be found for example by checking previous editions of Garage48 or similar competitions. However, you cannot copy an existing idea, instead you ought to develop your own idea. The idea must be approved by the lecturer.

If you do not have such an idea, you can receive an idea to use but once you receive the idea, you have chosen this exam and as such, must take it.

Assuming you have an idea that excites you and that is likely to excite others, your task is to design a business plan to develop and commercialize the product or service that you have conceived. You should prepare this business plan as if you were planning to present it to venture capitalists or potential business partners with the aim of getting them to invest into your project. You will be graded both based on the form (i.e. do you submit the required deliverables) but also in terms of how convincing your business plan is.

It is desirable that you show wireframes or mockups to illustrate how your service would look like from the perspective of potential customers.

We will assign you a grade based on two deliverables:

1. Your written report covering your Business Model with each building block presented properly, the business case analysis and the cost estimation submitted using the "Submit" button by 4 January 2016 at 10:00am EET (strict deadline, if you miss it, you will have failed the exam)
2. An 20 minutes presentation to be given on 04 January 2016 at 16:15 in room 405. If you are prevented from making the presentation at this date and time, we can schedule another time.

Your presentation should describe the following elements:

• Your Business Model (building blocks of the Canvas)
• Description of the target market(s) and estimate of the market size and analysis of the competition
• Pricing Model and how you intend to get revenues
• Business Case Analysis for the first 3 years of you business (including revenues, costs, NPV, IRR, Payback and ROI)
• Cost Estimation for developing the software.

The report should include:

• Your Business Model Canvas with each block described and discussed in depth.
• Description of the target market(s) and estimate of the market size and analysis of the competition
• Pricing Model
• Business Case Analysis for the first 3 years of you business (including revenues, costs, NPV, IRR, Payback and ROI). All numbers must be well rooted, i.e. every assumption needs to be motivated and backed up by data.
• Description of the software product or service including wireframes, screenshots or link to a working prototype or mockup
• Analysis of the cost or effort of developing the software (all numbers must be well rooted, i.e. every assumption must be motivated)
• Discussion on risks, threats and other issues relevant for your case.

Your submission will be graded as an "essay", which means that the grading is partly subjective and depends on the quality of the arguments you put forward to convince others. Below is an indicative set of grading criteria.

• Content
  • Clarity of problem solved and target customer(s)
  • Clarity of envisioned solution (product) and value proposition to customers
  • Clarity and foundation of cost/effort analysis and product development plan
  • Clarity of business model (non revenue aspects)
  • Clarity of revenue model
  • Clarity and foundation of cash flow projection
  • Clarity and significance of potential market (short and long-term)
  • Clarity of market entry plan and longer-term market acquisition vision
  • Focus and novelty of idea, analysis of competition and differentiation from competition
• Oral presentation
  • Clear and understandable speaking
  • Logical structure of presentation, quality of slides
  • Passion, eloquence, persuasiveness
  • Answers to questions (note: in addition to questions about your presentation and idea, the examiner can ask you general questions that relates to other topics covered in the course)
• Report
  • Clear and correct writing and logical structure
  • Eloquence, persuasiveness

This exam has to be submitted individually or in a group of 2-3 persons. NOTE: You will be individually graded. This means that different members of one team might get different grades. As the exam is individual, you have to explicitly state (if in groups of 2 or 3 persons) the contribution of each member. Each member will give a separate presentation. If you are three members, each member takes one part of the course (business model, business case analysis or cost estimation). If you are two members, each member has to take one of the above and the third part is shared (remember that each persons contribution has to be explicitly stated). Naturally, the more members there are in the group, the expected level of detail and analysis increases. You are free to discuss all the issues in your group BUT the exam is individual and as such, each group member will be graded individually. You cannot present the same idea that you presented in the assignments.

Good luck!