SCI07014 2016 Enterprise in Biomedical Sciences
Students in Biomedical Sciences at the University of Ulster should be aware of how to exploit their own ideas and talents, and have an appreciation of bioethics and the requirements of employers for professional biomedical scientists. Entrepreneurship training makes graduates more employable and helps them get a good job.
- To provide opportunities for the moral and ethical issues associated with biomedical science research and exploitation to be discussed;
- To provide opportunities for enterprise, employability and reflective skills to be extended, applied and integrated in the contexts of personal development planning and a bio-business planning project; and
- To engage the participants actively in groups in the practice of getting informed about the bio-business environment, developing a bio-business idea and a strategy for protecting it, defining a bio-business proposition and evaluating its unique selling points, researching the market, studying the competition, developing a marketing strategy, identifying the resource requirements and sources of finance, preparing short-term financial forecasts and integrating all aspects within an outline business plan.
On completion of this module the learner will/should be able to;
KNOWLEDGE AND UNDERSTANDING
K1 Explain the entrepreneurial process.
K2 Recognise the value of management, finance and marketing skills in new venture creation and for improved practice in existing private and public sector organisations.
K3 Recognise the importance of intellectual property, strategy, ethics, risk analysis and regulations in the exploitation of biomedical science research.
K4 Identify and draw on current and emerging trends in biomedical sciences.
I1 Create a Bio-business proposition.
I2 Discuss ethical issues in the context of enterprise in biomedical sciences.
I3 Engage in personal development planning.
I4 Prepare an effective Bio-business outline plan.
I5 Engage in evaluation of own Bio-business planning practice.
P1 Assemble evidence to support the benefits of a Bio-business proposition.
P2 Present a Bio-business plan in a format that complies with accepted conventions.
P3 Reflect on own experiences and learning.
P4 Use the internet critically as a means of communication and a source of information.
T1 Participate in the steps required for group forming, norming, storming and performing.
T2 Collaboratively plan project activities and decide on individual responsibilities.
T3 Communicate effectively in writing.
Teaching and Learning Strategies
LEARNING AND TEACHING METHODS
Each student will participate in an induction on how to be an effective online learner and how to use the Blackboard virtual learning environment. A range of learning and teaching methods are used, including:
- Online lectures
- Tutor supported online activities and discussions
- Directed reading
- Self-assessment quizzes
- Group business planning project
Module Assessment Strategies
ASSESSMENT AND FEEDBACK
Coursework 1: Elevator pitch (25%)
Lecture material introduces students to sources of creativity and aids to creativity. Each student then have to generate a new venture idea OR an improved practice proposition in the broad field of biomedical sciences through interaction with his or her network of professional contacts and peers or observation/reading/ research. New venture ideas may come through serendipitous discovery (job into a business, wanted yourself, read or hear about it, or observe on the TV, internet or travels), a previous or current job or a research project. Improved practice propositions will arise out of a student’s previous or current work or studies. The American term “elevator pitch” comes from the notion that the entrepreneurial person has the time it takes to travel up in an elevator (e.g. 60 seconds) to convince those around him or her that he or she has a marketable idea or improvement proposition. In this case, each student will not present the ‘elevator pitch’ orally but rather post online, within the Discussion Forum, a written statement of his or her idea, in less than 120 words.
Coursework 2: Personal Development Plan (25%)
Each student will carry out a strengths, weaknesses, opportunities and threats (SWOT) analysis on his or her personal development, and prepare a personal development plan (PDP) making use of specified SWOT and PDP templates.
Coursework 3: Group new Bio-venture Plan (50%)
Students form groups comprising 4 or 5 members. Each group is required to create a bioscience new venture proposition and then prepare an outline new venture plan (25%) to bring the new product(s) and/or tradable service(s) to market. Each student in the group is required to write and submit a reflection (15%), stated in 200 words or less, on “Working on a group business planning project helped develop my team working skills”. Each student in the group is also required to arrange one group Project meeting, set the agenda for that meeting and then write and submit a brief set of minutes (10%) arising from that meeting.
Feedback: Students will be provided with the assessment criteria for each assignment. Feedback will be written and detailed against each criteria as appropriate. Further information and guidelines on assignments, assessment criteria and submission schedule is provided in the module handout.
100% Coursework 0% Examination
- Module briefing: rationale; expectations; and the entrepreneurial process. The entrepreneur: a change agent in new venture creation and existing organizations.
- The opportunity: life sciences and biotechnology; health services; creativity and innovation; and the marketing concept, environment and plan.
- The resources: organisations; human, physical and financial resources; processes and results; sources of finance; and financial statements.
- Elevator pitch. Entrepreneurial process exercises. Group formation. Getting started on the Group project.
- Business planning: introduction to the business plan; before the business plan step; developing a business plan; an outline plan; and Bio-business case examples.
- Issues with enterprise in biosciences: intellectual property; and exploitation strategy.
- Issues with enterprise in biosciences: bioethics; risk analysis; and regulatory.
Coursework & Assessment Breakdown
|Title||Type||Form||Percent||Week||Learning Outcomes Assessed|
|1||Coursework1||Continuous Assessment||Written Report||25 %||Week 4||1,2,3,4|
|2||Coursework2||Continuous Assessment||Written Report||25 %||Week 8||1,2,3,4|
|3||Coursework3||Project||Group Project||50 %||Week 12||1,2,3,4|
Online Learning Mode Workload
Blackboard Learn Lectures
Online database resources including: ABI Global Package; Business Source Premier; Keynote; and Mintel
Patent database at http://worldwide.espacenet.com/advancedSearch?locale=en_EP
Bessant, J and Tidd, J (2011) Innovation and entrepreneurship (2nd edition) Chichester: John Willey & Sons
A range of tutor specified useful web links is accessible through the Module Resource Area, including:
- Biotechnology and Biological Sciences Research Council at http://www.bbsrc.ac.uk/
- Biotechnology Industry Organisation at http://www.bio.org (Taking Stock: How Global Biotechnology Benefits from Intellectual Property Rights)
- Community for Young entrepreneurs at http://www.shell-livewire.org/
- Invest Northern Ireland at http://www.investni.com (Life Sciences)
- Intellectual Property Office at http://www.ipo.gov.uk
- Nuffield Council on Bioethics at http://www.nuffieldbioethics.org/
- Technology Strategy Board at http://www.innovateuk.org
- Startups: Build a better business at http://www.startups.co.uk/