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FAQs

Key Dates

  • Applications Due: Applications close on Wednesday, 31 December 2014
  • Selection process: Student applications will be reviewed by Macquarie University staff
  • Notification of Entry: Students will be notified via email of the outcome of their application

Conditions of Program

A condition of being accepted and completing the Deloitte FASTRACK Innovation Challenge is that you must enrol in FOBE310 - Innovation and Entrepreneurship in Corporate Engagement

How do I know if my application is successful?

Students who receive a place in the Deloitte FASTRACK Program will be notified by email. Successful students will also be contacted by BESS notifying them that a waiver has been issued and they MUST enrol in FOBE310 via eStudent for Session 1, 2015

The student applications' that are not successful will also be notified via email.

What is Intrapreneurship?

As technology has shortened the product lifecycle, innovations need to be faster than ever before. Intrapreneurship is re-imagining what the firm can be and launching new products.

Benefits of Program

  • Learn about positive failure Failing ideas to win in the long run
  • Information in a short period of time, accelerating learning in a business environment
  • Learn about innovation and intrapreneurship in a real business environment, where ideas must deliver value to the client
  • Implement your learning from University into a business environment
  • Develop your professional skills and increase employability

Program Overview

  • Before commencing the innovation project students will register onto the FASTRACK website and will be allocated to teams of 34 students
  • Students will attend 2 intensive seminars in the first month and additional seminars later in semester and will then participate in virtual workshops
  • In addition teams will need to meet regularly to develop their innovation concept
  • Time commitments for this unit should be considered the same as an internship, ie approximately 12 days per week
  • Teams will receive regular communications regarding when deliverables are due
  • Students will also need to attend seminars on campus (3 approximately) which will include a session about professional business skills conducted by the Careers Service (but not necessarily in line with the timetabled schedule for the unit)
  • Each team will be required to develop a $50 million business innovation idea which questions the status quo and creates value through a growth plan including financial assumptions
  • The innovation idea could be for any large organisation or industry and could cover social, environmental or economic issues
  • All ideas generated from this program by teams will be considered open intellectual property and will go into the public domain
  • Teams will engage with the Deloitte Consulting team on client engagement and senior executives and professional teams as part of the program
  • This program is based on the real market place and is not a simulation exercise
  • Students will be required to 'pitch' their innovation idea as part of a presentation to senior Deloitte staff - Not all team members will need to present as part of presentation due to time constraints
  • These presentations will be part of a 'final' competition round with teams competing for a place in the Grand Final where teams will present to the Head of Innovation at Deloitte
  • Teams will compete as a Macquarie University cohort until the Grand Final presentations
  • The team with the winning innovation concept will receive $5 000 in prize money
  • Students from The University of Sydney will also be participating in the Deloitte FASTRACK Innovation Challenge and other universities could also participate
  • Previous students have commented that the work required for the unit has been substantial and at times challenging but they have found the experience worthwhile and very rewarding
  • The workload for this unit is too great for students to consider this as a fifth unit

Assessments