The primary aim of this module is to integrate information from the core modules by addressing the issues concerned with conversion of an idea in bio-science to a commercial reality. The module draws from information in the core business and bioscience modules and concludes with the student formulating, writing and presenting a Business Plan.
Principle Learning Outcomes
Demonstrate a broad knowledge and understanding of the requirements and issues associated with the successful conversion of an idea in biosciences to an exploitable, commercial product; the stages in establishing a bioscience business with emphasis on legislation, finance and ethics.
Identify, analyse and resolve scientific, financial, legislative and ethical issues pertinent to converting an idea for a bioscience product into a commercial reality.
This module is an introduction to, and explanation of, knowledge transfer issues. It covers the stages from idea generation through to commercial exploitation. The student is made aware of the issues involved in starting a business, from regulatory to ethical, and concludes with the writing of a business plan.
- Knowledge and technology transfer: the biotechnology business; academia as a business generator; knowledge transfer mechanisms; commercialisation of biosciences; risk; success factors.
- Creativity and innovation.
- Intellectual property, protection; forms of intellectual property rights.
- Researching ideas: establishing novelty; competitive intelligence.
- Communicating ideas: presentation of the individual and their work; oral and written communication; communicating with non-scientists.
- Starting up a business: options – licensing, strategic alliance, spin-outs, start-ups.
- Phases of business growth.
- Cost implications of starting a bio-business.
- Role of the Business Plan.
- Regulation in the bio-sciences.
Formal lectures will be interwoven with case studies.