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Unit of study_

FINC6025: Entrepreneurial Finance

This unit explores the considerations when planning the financial needs of new ventures and young companies. An overview of entrepreneurial finance reviews the concepts of valuation for entrepreneurial ventures and possible funding sources from the standpoint of the founder, management team and the funder. Fundamental valuation approaches considered in corporate finance are extended to model the opportunities and the capital structure relevant to a new venture. This unit examines the process of venture capital funding and the challenges of managing and funding growth. New topics are covered in relation to the growth and exit strategies employed by entrepreneurial ventures, as well as later stage financing, including mezzanine financing and buy-outs.


Academic unit Finance
Unit code FINC6025
Unit name Entrepreneurial Finance
Session, year
Semester 1, 2020
Attendance mode Normal day
Location Camperdown/Darlington, Sydney
Credit points 6

Enrolment rules

Available to study abroad and exchange students


Teaching staff and contact details

Coordinator Joakim Westerholm,
Type Description Weight Due Length
Final exam Final exam
Written exam take home and up-loadable exam within a deadline.
55% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
In-semester test Quiz
Short answer and MCQ
20% Week 07 1.5 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Assignment group assignment Business plan
25% Week 12 10 pages report + Pitching video
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
group assignment = group assignment ?

Mid-semester Exam

Group Assignment Report

Final Exam


Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range


High distinction

85 - 100

Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 


75 - 84

Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.


65 - 74

Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.


50 - 64

Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 


0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

10% per day late, pro-rata

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

Academic integrity

The Current Student website provides information on academic honesty, academic dishonesty, and the resources available to all students.

The University expects students and staff to act ethically and honestly and will treat all allegations of academic dishonesty or plagiarism seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic dishonesty. If such matches indicate evidence of plagiarism or other forms of dishonesty, your teacher is required to report your work for further investigation.

WK Topic Learning activity Learning outcomes
Week 01 Introduction; the entrepreneurial environment and the venture life cycle Lecture (3 hr) LO1
Week 02 Business model generation: the business model canvas; The Business Simulation Game starts! Lecture (3 hr) LO2
Week 03 Preparing and using financial statements for start-up firms Lecture (3 hr) LO1
Week 04 Managing cash flows for start-up firms Lecture (3 hr) LO1
Week 05 Types and costs of financial capital: valuations part 1 Lecture (3 hr) LO4
Week 06 Types and costs of financial capital: valuations part 2 Lecture (3 hr) LO4
Week 07 Types and costs of financial capital: valuations part 3 Lecture (3 hr) LO4
Week 08 Efficient markets theory Lecture (3 hr) LO3
Week 09 Exit and turnaround strategies Lecture (3 hr) LO5
Week 10 Business Simulation Game completion and evaluation Lecture (3 hr) LO2 LO3 LO4 LO5
Week 11 Pitching competition Lecture (3 hr) LO1 LO2 LO5
Week 12 Pitching competition Lecture (3 hr) LO1 LO2 LO5

Attendance and class requirements

Lecture recordings: All lectures and seminars are recorded and will be available on Canvas for student use. Please note the Business School does not own the system and cannot guarantee that the system will operate or that every class will be recorded. Students should ensure they attend and participate in all classes.

From week three this UoS will be delivered in online mode and all lectures will be held according to schedule using Zoom. Recordings of these online lectures will be placed on Canvas for repeated viewing by students.

Workshops will also be video recorded and submitted for viewing online by students.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Entrepreneurial Finance, J.C. Leach and R.W. Melicher, 6th Edition, 2018.

All readings for this unit can be accessed on the Library eReserve link available on Canvas.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University’s graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. understand, explore and analyse the business entrepreneurial environment
  • LO2. develop the business idea and prepare the business model canvas
  • LO3. understand efficient markets theory and how it fits into the venture life cycle
  • LO4. use real-life data to understand hybrids, bonds and funding structure
  • LO5. explain the nature and impact of harvesting the business venture investment.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
No changes have been made since this unit was last offered.

Weekly format: Each student attends a 2-hour lecture a 1-hour workshop.

More information can be found on Canvas.


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