How should I write my Individual Report?

You will act as a member of the panel of investors that will evaluate one of the new venture pitches presented for Assessment 2. In your individual report, you will rate and provide a rationale for your rating of the new venture pitch. You will assess whether the new venture is a good investment opportunity (e.g., how favourable the business context, the attractiveness of the opportunity, the strength of the new venture team) and provide recommendations for the new venture (e.g. key strengths, key weaknesses and additional information or revisions). Your evaluation should be informed by the principles, concepts and frameworks covered in the unit including the expert advice given by guest lecturers.

How should I write my Individual Report?

For your Individual Report, you must use the Group Pitch Evaluation template available for download below.

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  • The word count for this assessment is 1500 words, which includes the template wording and in-text references but excludes the Reference List.
  • You must use at least 6 references with APA 7th from course content (e.g., readings, guest lectures, lectures, activities) to support your evaluation.

Sources:

  • Donald F. Kuratko, Michael H. Morris, and Minet Schindehutte,
    “Understanding the Dynamics of Entrepreneurship through Framework
    Approaches,” Small Business Economics, 45, no. 1 (2015): 9. Berlin,
    Germany; Springer Publishing

·        ReferenceInnovations that could shape and transform 2020-2030. (n.d.). World Business Council for Sustainable Development (WBCSD). Retrieved August 16, 2022, from https://www.wbcsd.org/Overview/About-us/Vision-2050-Time-to-Transform/Resources/Innovations-that-could-shape-and-transform-2020-2030 (Links to an external site.)

 

 

 

Lecture Concepts:

  • The golden spiral
  • Innovation and Entrepreneurship as paradox
  • Psychological motivation of entrepreneurial behavior
  • Existence of opportunities: locus of change
  • Industry Characteristic analysis:
    Porter’s five forces model
  • Diversification
  • Thomas Edison’s Innovation “Recipe”
  • Business Model: Simplest Conceptualization
  • Future-present paradoxical tensions: acting as-if
  • Mission and vision statements
  • Forms of Sustainable Entrepreneurship
  • Venture capital tradeoffs
  • Debt or Equity Financing

 

 

The following is the transcript of the presentation, please write this essay according to this transcript and PPT.

 

 

Record Transcript

 

01:32:22.840 –> 01:32:29.709

Corinna Galliano: before I get into the middle App. What it is, functions, contributions to society. I want to start off with the why, the

 

555

01:32:29.770 –> 01:32:32.490

Corinna Galliano: why, we can socialize this business.

 

556

01:32:33.820 –> 01:32:35.669

Corinna Galliano: I want to get a little personal.

 

557

01:32:35.790 –> 01:32:53.079

Corinna Galliano: I come from an area in Western Sydney, and if you guys know anything about Western Sydney, you would know that it has a high concentration of small local business owners. I’m talking about the Italian grandfather who has the farm, the Vietnamese mother who runs our own bakery. We’re talking about the area with uncle that owns a supermarket

 

558

01:32:53.090 –> 01:33:02.709

Girish Balakrishnan: growing up. I’ve realized that profit, profitability, isn’t their pursuit. Really, it’s creating meaningful relationships with their customers, and it always has been

 

559

01:33:02.780 –> 01:33:17.919

Corinna Galliano: so. Coming from a family of business owners. I recognize that too much time was spent on doing admin negotiations, working out business suppliers, and this time spent on serving the customers that you want to serve now.

 

560

01:33:17.930 –> 01:33:30.440

Corinna Galliano: The Western Sydney also has a large concentration of creators, and i’m talking about freelance creators. They’re not signed up to any big sponsorship. They don’t have big corporate partners. They do their work because they love their work, and they love their passion

 

561

01:33:30.450 –> 01:33:35.179

Corinna Galliano: so at the call and at the foundation of why we’ve created an app Middle

 

562

01:33:35.240 –> 01:33:39.139

Corinna Galliano: is. We want people to return to what makes them happy.

 

563

01:33:39.150 –> 01:33:55.859

Corinna Galliano: We want business owners to return to their customers, serving their customers, building those relationships. We want creators to return to making their ah, pursuing their passion, not being business, admin not being negotiators, not being agents. This is the current time that is spent on customers from business owners.

 

564

01:33:55.870 –> 01:34:01.510

Corinna Galliano: This is we. This is what we propose to increase it to. We want them to engage with their customers.

 

565

01:34:01.520 –> 01:34:10.559

Corinna Galliano: Now, Okay, that’s our foundation. Why, but you might be thinking why else? But there is a gap in the market for this type of app, and we’ve never seen it before.

 

566

01:34:10.620 –> 01:34:30.170

Corinna Galliano: There’s a potential to capture the emerging market base of create a class, a brand, new wave, or flexible labor. We can capitalize on increasing digitalization within the food and beverage industry. We want to empower business owners take control back in terms of their selection, and we do want to facilitate and empower creators and freelances by our financial compensation.

 

567

01:34:30.180 –> 01:34:33.440

Corinna Galliano: Now you might be thinking, Well, why us right.

 

568

01:34:33.450 –> 01:34:38.490

Corinna Galliano: We’re a group of founders, and we’ve got multidisciplinary interests we got, but we

 

569

01:34:38.500 –> 01:34:56.770

Corinna Galliano: various diverse backgrounds. Some of us are marketing agency officers. Some of us are consultants. Some of us are small business owners, and some of us are freelances. So, despite our varying and diverse levels of capability, we’ve got a shared common pain point, and that’s well. We want more for the people with less.

 

570

01:34:56.860 –> 01:35:06.200

Corinna Galliano: I’m going to show you a video about basically this pain point and its visual representation. This is based on my brother’s experience running his own cafe, and I hope you enjoy

 

571

01:35:08.700 –> 01:35:09.730

worry.

 

572

01:35:16.630 –> 01:35:21.790

What are you with? I’ve just got to find a food blog off the on my new menu.

 

573

01:35:21.800 –> 01:35:22.989

That looks complicated,

 

574

01:35:23.000 –> 01:35:24.789

and I’ve got to find a photographer as well.

 

575

01:35:24.800 –> 01:35:27.089

Don’t get stuck. Go around the circles.

 

576

01:35:27.100 –> 01:35:27.980

Be in the moon,

 

577

01:35:28.500 –> 01:35:29.519

middle.

 

578

01:35:29.860 –> 01:35:37.719

Your choice of collaboration thick from your favorite creators, reviewed a profile of your match.

 

579

01:35:37.800 –> 01:35:42.419

See how others rated their work. Collaborate, quicker,

 

580

01:35:42.430 –> 01:35:43.990

elaborate Avia!

 

581

01:35:44.000 –> 01:35:49.679

Huh! With middle. I don’t need these anymore. Don’t get stuck going around in circles.

 

582

01:35:49.690 –> 01:35:51.620

Be in the middle,

 

583

01:35:53.270 –> 01:36:04.789

Corinna Galliano: so i’ll now get into the executive summary Some facts and figures. First of all. Let me explain and re-emphasize who we are. We are middle. We’re a fresh, collaborative new marketplace

 

584

01:36:04.800 –> 01:36:18.849

Corinna Galliano: What we do we want to inspire effective collaboration between creators and small businesses. Our vision well, our vision is to strengthen the local economy. We want to support entrepreneurial spirit. We want people to take up their passions and make money from it. Our values,

 

585

01:36:18.860 –> 01:36:36.889

Corinna Galliano: our values are embedded in how we serve our customers. We want to offer collaborative transparency. We want to increase local engagement, and we want to empower small ownership where our target market is the Australian hospitality, food, and beverage industry, the venue owners and multimedia creators. Now some interesting facts and figures

 

586

01:36:36.900 –> 01:36:41.539

Corinna Galliano: every twenty eight seconds. An Australian hotel by our restaurant is tagged on Instagram,

 

587

01:36:41.870 –> 01:36:52.249

Corinna Galliano: eighty percent. That is, eighty percent of daily social posters in Australia compared to other countries such as Korea, France, Japan, Germany, and the Uk were just significantly lower.

 

588

01:36:52.390 –> 01:36:59.880

Corinna Galliano: One hundred and sixty five million plus creators have been created over the past two years. That’s added the total to three hundred and three million

 

589

01:36:59.930 –> 01:37:15.910

Corinna Galliano: in Australia. It’s growing forty, eight percent since the pandemic, and twenty, two point five billion that’s a food and beverage industry market capacity by two thousand and twenty-seven So there is a large market, and to move on to basically the macroeconomic conditions and the

 

590

01:37:15.990 –> 01:37:40.329

Corinna Galliano: and the favorable macroeconomic conditions we have. I’ll touch on this quite quickly. The two I’d like to highlight is the social trends. So we see a nice social trend towards food. Food influence is becoming much more important, and we understand that the younger generation they want to prioritize entrepreneurship. They don’t want to work in institutional settings, and they prefer to make money based on their own abilities.

 

591

01:37:40.340 –> 01:38:00.619

Corinna Galliano: Legally we see a ah an easing of regulations towards a flexible labour market. There was a demise of the standard employment relationship which means it’s basically going to facilitate and support the gig economy, freelances, and you know Job Keyword incentives help those people stay afloat. So we do see a significant trend towards our app, including technological. Of course,

 

592

01:38:02.520 –> 01:38:05.529

Corinna Galliano: i’d like to pass it to Kelly, who’d speak about the stakeholder mapping.

 

593

01:38:06.160 –> 01:38:23.980

Corinna Galliano: Thank you, Roman. Let’s see if I can be as equally as convincing. So what you see in front of you is a visual layout of the primary stakeholders involved in our business. I’d like to especially address the customer service engagement team as well as the software developers. They will serve as the backbone of our app,

 

594

01:38:23.990 –> 01:38:40.029

Corinna Galliano: because ultimately medall is an app. It’s a digital platform and sales and marketing team will be extremely significant once we do our first launch, because we, hoping to actually get a foot in the market and secure customer loyalty before any other current competitors come in.

 

595

01:38:40.070 –> 01:38:54.219

Corinna Galliano: Then. Obviously, we’re having our investors. We’re here, obviously, and we have our usual standard admin team. We’re definitely going to focus a lot on the legal details to secure patents and branding to prepare for any future competition as well.

 

596

01:38:54.490 –> 01:39:23.160

Corinna Galliano: And then we go to our two sides of a platform. We’ve got examples now. These are just not the categories contained within the Content Creators, because there are so many emerging niches in the categories we want to embrace as much diversity as possible. And so that’s why the terms are kept really broadly, and then we’ve got the food and beverages on the other side. We’ve got hospital venue managers, such as pugs, bars, entertainment centers, and obviously have a

 

597

01:39:23.170 –> 01:39:25.289

Corinna Galliano: Is that the egg next slide?

 

598

01:39:27.190 –> 01:39:42.799

Corinna Galliano: All right? So just to introduce you a little bit to our values. Yes, we’re fostering connections and um encouraging entrepreneurship. But we’re really actually delivering the value of creating a reality in which you live to work instead of working, to live

 

599

01:39:42.810 –> 01:40:01.820

Corinna Galliano: and to do that. That’s why creators have the opportunities to actually choose. And we, because we’re granting choice back to creators, and then obviously, it’s the food and beverage industries or business owners. We are saving them from migraines, of having to go through a fruitless hunt for whatever they’re looking for, as per the ad that we demonstrated.

 

600

01:40:02.310 –> 01:40:04.189

Corinna Galliano: Then we have our rarity.

 

601

01:40:04.200 –> 01:40:05.780

Corinna Galliano: Now i’d like to

 

602

01:40:05.790 –> 01:40:26.969

Corinna Galliano: highlight the significance of external circumstances. Now we are in a post Covid environment, and because of that we are on the front line of writing a mega trend towards entrepreneurial interests. You can’t replicate that. So this is a rare situation in which the environment is favoring the creation of our app.

 

603

01:40:26.980 –> 01:40:36.940

Corinna Galliano: Everyone wants more freedom and choice in their career in in career choices. But there is no set mechanism yet to determine that. And with Madel that’s what we’re hoping to change.

 

604

01:40:37.200 –> 01:41:04.529

Corinna Galliano: And then, as for imitability. We’ve got our legal work um team departments to collaborate on that. We’re going to definitely use our first mover’s advantage in order to secure customer loyalty as well as customer feedback. So with our analytics department, because we are moving fast into the environment, we’ve got the advantage of tons of data and feedback. So any other future competitors in the market are at a disadvantage, because we know there.

 

605

01:41:04.830 –> 01:41:27.630

Corinna Galliano: Finally, I’d like you to introduce you to our organization. Obviously, we’ve got our information center on the app, and it is also easy to use because we’re in such a niche market. We’re able to actually first master our organization structure before expanding to other industries. And now I’m going to pass on back to Roman. We will be talking about this

 

606

01:41:29.540 –> 01:41:46.729

Corinna Galliano: so very quickly, and we conducted two interviews with two experts from both those stakeholder. Ah, the two sides that Kelly pointed out. Sydney Food Brothers are a really famous food blogging page, and essentially what they said was: Instagram Doesn’t allow us to filter the results by their own criteria.

 

607

01:41:46.740 –> 01:42:09.009

Corinna Galliano: This means they have to create a mental checklist and basically tick it off, based on You know that that mental checklist I spoke to the piccolo, me owner. So he has about four or five different cafes, and he said, I really don’t like that. I don’t know much about the Creator and the algorithm randomly selects it to me. I should have access to a full platform with profiles, so I can see where the profile matches with our shop and our vision.

 

608

01:42:09.020 –> 01:42:12.609

Corinna Galliano: I want to hand over to saw you who is going to speak about the customer segmentation.

 

609

01:42:13.500 –> 01:42:31.080

Corinna Galliano: Okay. So our customer actually were coming from both side of our middles, users and creators and fmb business. And for creators. We want to into a social media influencer, but basically with smaller fan, base and photographers, food, bloggers, cryptic designers, groups, suppliers and nutritionists,

 

610

01:42:31.090 –> 01:42:46.600

Corinna Galliano: and for a freedom beverage business. Actually, we want to um looking for business owners of cafes, restaurant pops, hotels, and food venues, And also we will be very helpful for people who wanted to start their own with and beverage business.

 

611

01:42:48.580 –> 01:43:00.520

Corinna Galliano: And so this is our three major assumptions. Um. The first one. We think the freedom beverage. Owners and creators are both worried and uncertain about the quality of the work they might get,

 

612

01:43:00.530 –> 01:43:11.899

Corinna Galliano: and the second is that we see the trend that people are more um wanting to choose the flexible jobs instead of traditionally being hired by a copyright.

 

613

01:43:11.910 –> 01:43:20.789

Girish Balakrishnan: And also we see the demands for the Creators by small business is increasing. So we assume the market is constantly growing bigger,

 

614

01:43:20.800 –> 01:43:33.679

Corinna Galliano: and the third one is because we think the collaboration is actually very important for freedom beverage, owners and creators. However, with the current solution, it’s very hard for them to identify a

 

615

01:43:33.690 –> 01:43:55.709

Corinna Galliano: suitable corporate partner called collaboration partners, and because there is no such a platform, they can facilitate the self-managed process. So, in order to test our three key assumptions, we run the surveys and send to food and beverage business and creators. And there’s twenty individuals, responded us, and i’ll let where we get to talk about the results,

 

616

01:43:57.690 –> 01:44:14.910

Corinna Galliano: all right. So for basically for our results. We’ve highlighted the most important results that we got, and the ones that respond to our assumptions. Basically, there’s around sixty, seven percent of the F. And B owners that said that one hundred and one.

 

617

01:44:14.920 –> 01:44:43.780

Corinna Galliano: The uncertainty of the quality was what um what what was the hardest for them when they collaborate with creators, also seventy percent of those business owners highlighted that the marketing agencies are the ones that are making it even harder for them to get in contact with creators and eighty three percent of those Ah Fnb owners also highlighted that the biggest challenge was.

 

618

01:44:43.790 –> 01:44:52.379

Corinna Galliano: They’re working with marketing agencies is basically the direct communication with the Creators. Now, when it comes to the

 

619

01:44:52.430 –> 01:45:09.519

Corinna Galliano: Creators themselves, the finding an Fnb business to work with, as well as the lack of flexibility, although these are the most challenging criteria that they found.

 

620

01:45:09.530 –> 01:45:38.299

Corinna Galliano: Ah! According to our validation criteria of sixty, five percent finding ah, forty, three percent as well as forty. Nine percent was a bit below that. So we did take them into consideration, obviously, and it could have been because our sample was a bit small of twenty people, but we gave more importance to the percentages that were above sixty, five, and eighty, eighty, six percent.

 

621

01:45:38.310 –> 01:45:51.169

Corinna Galliano: Ah have reported that, having no personal contacts affected a lot the creator’s contacts to to get a job with the F. And B owners.

 

622

01:45:52.200 –> 01:46:00.620

Girish Balakrishnan: Let me get into what’s interesting. And our prototype for medieval.

 

623

01:46:01.400 –> 01:46:03.430

Just one second

 

624

01:46:12.600 –> 01:46:32.490

Corinna Galliano: basically we log in, and if we are F and B owners and we’re looking for creators, we click on creators. We can get our topics, and when the saved, obviously we can get some reviews response rates about the the Creators

 

625

01:46:32.500 –> 01:46:44.200

Corinna Galliano: and based on their past projects. Then what we talked about, the uncertainty of the quality. This can actually help with that, then we can browse.

 

626

01:46:44.210 –> 01:47:00.019

Girish Balakrishnan: There is an option to like or to ask the person. Obviously every swipe is anonymous, but since it’s not a dating up, you can also chat with them and save their profile, even if you don’t match. Now, if you do much. You get a

 

627

01:47:00.030 –> 01:47:17.300

Corinna Galliano: think circle around the name around the picture, and if you don’t match you get a gray one, but you can still chat with them. You can still collaborate with them, and then you get your own profile where you can say you can put your Cv. You can put like every relevant

 

628

01:47:17.510 –> 01:47:35.689

Corinna Galliano: idea. Um, Then, if obviously, if you are a creator, and it’s the same thing for the business owners. If they’re looking for creators, it’s the same. It’s the same concept. Basically, And yeah, that’s for the app.

 

629

01:47:35.700 –> 01:47:42.490

Corinna Galliano: I’m gonna give it to Roman. So he talks about what interests you the most, which is the financial.

 

630

01:47:43.020 –> 01:47:44.390

Corinna Galliano: Thanks, Thanks, Maria.

 

631

01:47:44.400 –> 01:47:46.689

Corinna Galliano: I’m your own, by the way,

 

632

01:47:46.700 –> 01:47:49.690

Corinna Galliano: and let’s let’s go. Let’s come to the financials now,

 

633

01:47:49.700 –> 01:48:12.429

Corinna Galliano: and it was very, very great to see the the actual product. But I think what’s interesting for your investors is also what what are their numbers? What are we seeing in the market? So basically we’re going to get all the revenue from the food and beverage industry. There is where the money is. So we first need to know how big is the other solar market. We calculated it based on what’s the actual market size which is now around twenty billion, which

 

634

01:48:17.050 –> 01:48:36.190

Corinna Galliano: it’s? The the whole market size based on our assumption that there is the marketing budget of those companies is between three and six percent of total revenue. So we calculated three different cases. A conservative, a base case, and also an optimistic case based on that. This budget is actually different.

 

635

01:48:36.200 –> 01:48:37.050

Corinna Galliano: Roof

 

636

01:48:37.070 –> 01:48:56.749

Corinna Galliano: on the in the next step is from this marketing budget. Not everything will be allocated to craters and photographers and et cetera, but also to Google ads whatever. So we say it’s about twenty percent, but it’s increasing every year about three percentage points. So our create a marketing budget is between one

 

637

01:48:56.760 –> 01:49:11.519

Corinna Galliano: now one hundred and forty, five to two hundred and ninety, and it goes up to two hundred and fifty, six, two hundred and thirty, six to four hundred and seventy, three in two thousand and twenty seven, just in Australia alone,

 

638

01:49:11.680 –> 01:49:29.799

Corinna Galliano: and our whole business model is based on commissions. So we want to get a commission based on the revenue which goes through our platform. And again, we are here have three different cases. How we calculate base normally is what we expect, and we probably going to have like fifteen percent commission.

 

639

01:49:29.810 –> 01:49:42.000

Corinna Galliano: And based on that, Our addressable market which we actually could capture is right now in the base case, thirty, two million, and it will go up to fifty, three percent based on our customer.

 

640

01:49:42.010 –> 01:49:51.920

Corinna Galliano: How many customers we want to reach. It’s ten thousand customers in two thousand and twenty seven. We are actually able to capture a profit of about eight point, nine million in two thousand and twenty seven.

 

641

01:49:52.590 –> 01:49:54.190

Corinna Galliano: So what are we asking for?

 

642

01:49:54.200 –> 01:49:59.210

Corinna Galliano: We are asking for a investment of seven hundred and fifty K. For ten percent of our share,

 

643

01:49:59.220 –> 01:50:20.370

Corinna Galliano: which we then use immediately to develop the app. We have the prototype. We want to go into the minimal vital product stage, but we have to develop it. We then have to solve the chicken and act problem of every marketplace. We have to find customers on both sides to make it attractive to new customers. So we want to go with a lot of money into gaining those customers.

 

644

01:50:20.380 –> 01:50:35.099

Corinna Galliano: Next up. We have to find operations, seem to maintain the the app, or and also be customer service agents, and the rest is really for flexibility for us. R. And d like thinking about going into new markets, et cetera one.

 

645

01:50:50.060 –> 01:50:52.480

It doesn’t go anywhere.

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