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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, 2022
Attendance mode Normal day
Location Remote
Credit points 6

Enrolment rules

Available to study abroad and exchange students


Teaching staff and contact details

Coordinator Joakim Westerholm,
Tutor(s) MD Ahasan Sarkar ,
Vycke Wu,
Type Description Weight Due Length
Final exam (Record+) Type B final exam Final Exam Part I
MCQ and short answer exam
30% Formal exam period 1.5 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Final exam (Take-home extended release) Type E final exam Final Exam Part II
Take home open book exam
25% Formal exam period 48 hours
Outcomes assessed: LO1 LO5 LO4 LO3 LO2
In-semester test (Record+) Type B in-semester exam In-Semester exam
Short answer and MCQ:s, examinable material: All material including Week 06
20% Week 07
Due date: 09 Apr 2022 at 17:00
1.5 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Assignment group assignment Business plan
Report, pitching competition, best pitches evaluated by industry.
25% Week 12
Due date: 23 May 2022 at 23:59

Closing date: 02 Jun 2022
10 pages report + Pitching video
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
group assignment = group assignment ?
Type B final exam = Type B final exam ?
Type B in-semester exam = Type B in-semester exam ?
Type E final exam = Type E final exam ?
  • Final exam. Part 1: Students are required to answer a set of  multiple choice and short questions on the examinable topic in a simultaneous recorded examination. Part 2: Students are required to upload a report where they provide their solutions to current real-world like problems based on the examinable material, these questions are in take-home format and students are to upload their document with solutions within 48 hours of the release of the task. 
  • In-semester exam. Students are to provide their solutions to on-line multiple choice questions, and to upload their solutions to short, applied questions on the examinable topic in a simultaneous recorded examination.
  • Business plan. Students are to form of group of 3 to 6 students and each member of the group is responsible to ensure the team uploads an assignment report, and a pitching video. The report consists of a business plan for a start-up company, and the pitching video is an effort to raise funding for the new business.

Detailed information for each assessment component can be found on Canvas.

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 (applies to the business plan group assignment)

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 integrity 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 integrity breaches seriously.

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

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

WK Topic Learning activity Learning outcomes
Week 01 Introduction; the entrepreneurial environment and the venture life cycle. Each week's lecture and tutorial exercises are on the current week's new topic. For detailed study material see week-by-week Modules on Canvas. Lecture and tutorial (3 hr) LO1
Week 02 Developing the Business Idea: the business model canvas. Lecture and tutorial (3 hr) LO2
Week 03 Managing Cash Flows for Startup-firms Lecture and tutorial (3 hr) LO1
Week 04 Projecting Financial Statements and Forecasting of Sales. Lecture and tutorial (3 hr) LO1
Week 05 Valuing Early Stage Ventures and Venture Capital Valuation Methods. Lecture and tutorial (3 hr) LO4
Week 06 Venture Capital Valuation Methods and Preparation for In-Semester Exam. Lecture and tutorial (3 hr) LO4
Week 07 In-Semester Exam. Lecture and tutorial (3 hr) LO4
Week 08 PITCHING COACHING WEEK. Lecture and tutorial (3 hr) LO3
Week 09 Block Chain, Smart Contracts, Crypto and Artificial Intelligence. Lecture and tutorial (3 hr) LO5
Week 10 Developing Business Ideas for the Future and in the Future; Temporarily Inefficient Markets; Advanced Case Study 1 Lecture and tutorial (3 hr) LO2 LO3 LO4 LO5
Week 11 Angel Investors and their Alternatives; Professional Venture Capital; Advanced Case Study 2 Presentation (3 hr) LO1 LO2 LO5
Week 12 Entrepreneurial Ecosystems; Advanced Case Study 3 Presentation (3 hr) LO1 LO2 LO5
Week 13 Revision of UoS and Final Exam Preparation. Lecture (3 hr) LO1 LO2 LO3 LO4 LO5

Attendance and class requirements

Lectures and tutorials: A live online lecture via Zoom will be held every week. Weekly live online tutorials will also be held. In these sessions students will be able to communicate with the lecturer and the teaching staff via microphone or chat. Attendance is recommended but not compulsory.

In addition studio recorded versions of the weekly lecture and tutorial will be provided on Canvas.

For those students that can and prefer to attend in person, weekly face-to-face tutorials will be arranged on campus. Social distancing will be practiced, and students and staff are allowed to but not required to wear a face mask.

Please refer to your timetable for session dates and times.

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, 7th Edition, 2020.

All readings for this unit can be accessed through the Library eReserve links 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
This unit of study has been extensively developed from previous versions to provide a flexible blended learning experience. The UoS content and learning material are at the same standard and difficulty level as previous years, but are dynamically updated to be relevant to the current environment in the global marketplace.

Weekly format: Each student is expected to attend a 2-hour lecture (online) and a1-hour tutorial.

More information can be found in Modules on the Canvas site for this unit of study.


The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

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