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2012/2013  KAN-CM_E106  Innovation & Commercialization Strategy in the Medico Industry

English Title
Innovation & Commercialization Strategy in the Medico Industry

Course information
Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Course period Spring
Changes in course schedule may occur
Tuesday 11.40-14.15, week 6-16,14-16 - Grundtvigsvej
Time Table Please see course schedule at e-Campus
Max. participants 60
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Stefan Meisiek - Department of Management, Politics and Philosophy
The course will be coordinated jointly with Copenhagen School of Entrepreneurship. For questions about course content please write to: Bo Koch-Christensen, bk.lpf@cbs.dk
Main Category of the Course
  • Globalization, International Business, markets and studies
  • Innovation and entrepreneurship
Last updated on 23-10-2012
Learning objectives
Students will learn to:
  • understand theories, concepts and methods in science-based innovation and entrepreneurship,
  • link this knowledge to issues in developing and commercializing innovations, and
  • communicate value propositions to potential users of Medico products & services. The focus of this course is the Medico industry, which is health, and welfare-focused innovation through public-private partnerships, alliances, and industry-academic collaboration.
  • • design a business model that elucidates how the proposed creates value
  • • create a business plan that details strategy, operations, marketing, human resouces, and related management issues for the proposed new venture
Prerequisite
The program is offered to all master’s level students. It can be selected without prior knowledge or experience with the Medico industry, entrepreneurship and innovation. The course is, however, especially valuable for students who have an interest in the Medico industry and who seek to advance skills and understanding of science-based entrepreneurship and innovation management.
Examination
Oral exam based on a mini project:
Type of test Oral with Written Assignment
Marking scale 7-step scale
Second examiner No second examiner
Exam period May/June
Aids Without preparation
Duration Please, see the detailed regulations below
Oral exam based on a group mini project.
Max 15 pages for groups of 2-4 students.
Max. 10 pages for individual projects.

The type of exam is an oral (closed-book) exam on the basis of a group mini project (business plan for commercializing an innovation that has recently grown out of research from DTU, KU or industry). The mini project (business plan) is written in parallel with the course and must be submitted approx. one week after the last class session. The performance assessment of the exam will be based on the following criteria:
- The student shows profound understanding and appropriate application of theories, concepts and methods given in the course.
- The student is able to link findings from an actual application to insights on science-based entrepreneurship and innovation management
Course content
The Innovation & Commercialization Strategy course is designed by Copenhagen School of Entrepreneurship. This means high industry involvement and collaboration between Copenhagen Business School (CBS), the Technical University of Denmark (DTU) and Copenhagen University (KU). The ambition is to bridge students’ skills and disciplinary excellence in order to progress sustainable and growth oriented business concepts within the Medico industry. Examples of Medico products/services.
 
Blocks in the program
  • Medtech crash course (combining business and Medico)
  • Forming cross-disciplinary teams
  • Issues, challenges, and current trends in the medico industry
  • Ideation Processes
  • Technology, innovation and Business Development: Organization, strategy, legal-aspects and financing
  • Commercialization – Combining exploration and exploitation through private-public partnerships
The course strives to enable the students to explore, analyze and act in the face of a both dynamic and innovative industry. Students are offered insights into the innovation process, including its humanities, technical aspects, and business perspectives. Students are trained to build the synergies required for successful science-based entrepreneurship, while they build networks within the three universities, businesses and the industry.
Students will be working in project teams jointly addressing technical, sociological and commercial aspects in launching and commercializing an innovation and building a business. The projects are supported by lectures both from faculty and industry, offering an integrated and effective framework for working on actual Medico innovations/patents.

This course is especially suited for students who aspire to employment or self-employment as managers in the Medico industry. Bringing Medico inventions to the market requires more than technical skills in medical devices. It requires a fine sense for the industry, its dynamics, and for the way that opportunities arise and acted upon.
Teaching methods
The course is distinguished by its use of a studio pedagogy, which stresses creative imagination exercises, hands-on making, experimentation, prototyping, and demonstration—all done during class time and partly outside of class. Imagine a design studio devoted to creativity, innovation and commercialization strategy—this is the core idea. Students work in small design teams to create imaginative solutions (which are regularly reviewed and critiqued by practitioner guests).

Students will work in groups consisting of 4-5 students in each. The groups build their business on a scientific project from DTU, KU or industry, while using CBS framework to form it and KU, CBS framework to communicate it. The aim is to complete projects with a mix of theory and practical application that holds to academic scrutiny while meeting the practical business needs.
Further Information
The course is supported and sponsored by the Foundation of Entrepreneurship - Young Entrerprise of Denmark
Expected literature
Thomas H. Byers, Richard C. Dorf, Andrew Nelson: “Technology Ventures: From Idea To Enterprise”, 3rd edition, McGraw-Hill (2010).
 
Selected chapters from the following text (open for change):
 
Drucker, Peter: Innovation and Entrepreneurship. Practice and Principles. New York, Harper Business, 2006 (1985).
Blank, Steven, (2006) Four Steps to the Epiphany, Cafepress.com
Mason, Colin and Matthew Stark: What do Investors Look for in a Business Plan? A Comparison of the Investment Criteria of Bankers, Venture Capitalists and Business Angels International Small Business Journal, 2004
Burns, Lawton Robert. The Business of Healthcare Innovation. 2010. Cambridge, Cambridge University Press.
Osterwalder, Alex et al.: Business Model Generation. John Wiley & Sons, 2010.
Mønsted, Mette: Networking for innovation - managing through networks. Published in: Strategic Networking in Small High Tech Firms, Samfundslitteratur, 2003
Christensen, C.M.: The Innovator’s Dilemma. Boston, Harvard Business School Press, 1997
Zenios, Stefanos A.  Josh Makower, and Paul G. Yock: 'Biodesign: The Process of Innovating Medical Technologies', Cambridge University Press (2010)
- Chapter 1-2: Needs finding, Screening & Analysis.
- Chapter 3-4: Concept Generation & Selection.
- Chapter 5-6: Concept Implementation, Development Strategy & Planning.
 
Last updated on 23-10-2012