Coordination: Frederico Ferreira and Miguel Prazeres

 

 

Objectives

 

This course challenges students to come up with an answer for a medical need in the field of cell therapy and regenerative medicine that involves the creation of a new product or service, and that can be developed into a business project/idea. The course includes learning outcomes on:
A. Search and ideation: identification of a medical need and business opportunity, identification of unique product/service features and competitive advantages, intellectual property protection identification and validation of customer needs.
B. Market assessment: Market opportunities, market size and growth, market segmentation, industry structure, identification and role of different stakeholders.
C. Business development: Business model for the new enterprise. Team composition. Investment needs, technological plan and regulatory requirements, manufacture and operation plan, commercialization plan. Finances and funds requirements.

 

Program

 

This course is organized in two main actions:
(A) A group of sessions designed to promote an entrepreneurial go-to-market attitude amongst students and provide insights on: 1. Introduction to innovation, purpose and attitude. 2. Methodology overview. 3. Entrepreneurship? What? Why? Who? 4. Technology, Product features, User needs. 5. Disruptive products. Sustaining (r)evolutionary innovation vs disruptive innovation. 6. Why innovation fails? Examples. 7. Value creation and value capturing. 8. Stakeholders on a business venture. 9. Consumer value proposition, Problem and solution, impact. 10. Value chain. 11. Competitive analyses. 12. Technological plan. 13. Technology disclosure and protection of intellectual property 14. Marketing principles. 15. Revenue model. 16. Finances and funding.
(B) Development of a project in tutorial regime, under the guidance of selected business developers. The project will be leveraged on the technical knowledge gained and will consist of an entirely hands-on approach where PhD students will identify a medical need and will seek a solution for it, based on existing state of art knowledge, that can be explored in a new venture. The course offers an opportunity for students to navigate through all the processes required for product development, approval, production and commercialization. At the same time, students will become acquainted with the determinants for developing a new medical-technological business or a new business unit within a larger corporation. Participants will train and increase their skills in several fields, such as networking, interviewing, intellectual property, dealing with market data, understanding the supply chain and considering different business models.

 

Evaluation Methodology

 

The students’ presentation the initial medical need identification in the “3 day forum” and the final presentation in the annual retreat. Bioentrepreneurs from the consortium companies and MD’s will be invited to these sessions and to challenge the teams.

 

Mini exercises and participation (individual evaluation).
Deliverables with key elements of the business plan (team evaluation).
Final Presentations (team evaluation).