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2013/2014  KAN-CM_T87  Commercialization of high tech – entrepreneurship in action

English Title
Commercialization of high tech – entrepreneurship in action

Course information
Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Course period Autumn
Changes in course schedule may occur
Thursday 08.00-10.35, week 36-41, 43-47
Time Table Please see course schedule at e-Campus
Max. participants 50
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Claus Varnes - Department of Operations Management (OM)
Administrative contact Malindi Wilks - maw.om@cbs.dk
Main academic disciplines
  • Innovation and entrepreneurship
Last updated on 08-04-2014
Learning objectives
To be awarded the highest mark (12), the student, with no or just few insignificant shortcomings, must fulfill the following learning objectives
  • The student should be able to account for the selected theories including technology market insights, financing technology venturing, intellectual property, business model(s), risk assessment, and the entrepreneurial product development model.
  • The student should be able to discuss the strength and weaknesses of those theories with respect to analyzing commercial potential.
  • The student should be able to apply the correct theory in converting a patent owned and provided by the Danish University of Technology but selected by the student into a business case with strong commercial potential.
  • The student should be able to present analytical argumentation that supports the choice of go-to-market strategy for the business case and the operational business model of this strategy.
  • The student should be able to distinguish different view on market-customer/user-technology relationships and the implications for entrepreneurship and the go-to-market strategy.
  • The student should be able to create and present a convincing business plan for the business case based on the patent and the go–to–market strategy
Examination
Commercialization of high tech concepts – entrepreneurship and science in action:
Examination form Oral exam based on written product

In order to participate in the oral exam, the written product must be handed in before the oral exam; by the set deadline. The grade is based on an overall assessment of the written product and the individual oral performance.
Individual or group exam Group exam, max. 4 students in the group
Size of written product Max. 10 pages
Assignment type Project
Duration
Written product to be submitted on specified date and time.
20 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Grading scale 7-step scale
Examiner(s) Internal examiner and second internal examiner
Exam period Autumn Term
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content and structure
The course is an advanced course in entrepreneurship, challenging and engaging, with the aim of bringing together students with different background to work creatively to produce a commercialization plan for a patent provided by Technical University of Denmark (DTU: http://www.dtu.dk/english).

The classes are organized and designed in close collaboration between CBS and DTU. The course is divided in two main sections.

In the first part, there will be an intense focus on theories and methodologies, while in the second one the students will concentrate their efforts in writing a commercialization plan for the chosen technology with the aid of the theory.
 
The groups are formed by CBS and DTU students, in order to mix competences to achieve an understanding of the technology and its business potentialities in order to design, organize and possibly implement the business plan.

Each group will be assigned to a coach to consult his/ her expertise during the process.Guest lectures, entrepreneurs, professors and inventors are invited to present real- life experience.

Group work:  The groups will be formed by students with different background and competences, and will be constituted on the basis of the choice of the cases presented in the first lessons.

The students are expected to form a group able to work together and combining the different skills, explaining the value of the product/ service presented and the potential to commercialize it.

The course aims to develop critical and analytical capabilities in the students. Some projects can turn into a bankruptcy or a total failure, but the students can still receive top grades if they are able to explain and justify the processes and critically to analyze what went wrong.

If the students feel motivated and see a potential in the project, they can continue the collaboration with the inventor/ team within the modalities presented on the first day of class. The course has been running for two years, and several groups have successfully taken part of Case Compeition and some started a company together. DTU can aid in gaining venture capital.

CBS students have also to prepare a log, a weekly diary where they track and reflect upon the decisions made in the project. The templates for the log will be provided at the beginning of the course.

The group work can be challenging as two cultures meet, but this exactly also one of our aims with the course. In your future careers technology and business needs to be integrated for sucess, so you gain some early experience.

Teaching will take place at CBS and DTU.

Feel free to contact us for further information. Claus Varnes, cv.om@cbs.dk
Teaching methods
TEACHING
For each section there will be the two professors (one from DTU and one from CBS) present.
The teachers have decided to divide the course in Q1 and Q2: Q1 is allocated for teaching and Q2 for writing and developing the business plan.
The students will be asked to interact in class by presenting the progression of their work, working in articles and cases provided by the teachers with the objective to create a link between the literature and their project.
As methodology and process to be followed during the class, we propose actor network theory. The aim of this methodology is to follow scientists and engineers through the society, by studying science and technology in the making, how discoveries are made operational in practice. The leading theme is how to create value with an innovation or a patent, understanding how to develop resources and purposes in action.


Attendance in the classes is not mandatory but highly recommended.
Expected literature
  1. Sahlman, W. 1997. “How to Write a Great Business Plan.” Harvard Business Review  
  2. The Strategy and Tactics of Pricing: A Guide to Growing More Profitably (4th Edition) some of these Chapters 3, 4, 5, 7 , 10, 13
  3. Moore, G. Crossing the Chasm. Revised ed. New York, NY: Harper Collins, 1999 - chapter 1 "High-Tech Marketing Illusion," and chapter 2 "High-Tech Marketing Enlightenment,
  4. Foster, R. "The S Curve: A New Forecasting Tool." Chapter 4 in Innovation: The Attacker's Advantage. New York, NY: Summit Books
  5. Gans, J., and S. Stern. "The Product Market and the Market for Ideas: Commercialization Strategies for Technology Entrepreneurs." Research Policy 32, no. 2 (2003): 333-350.
  6. Callon, M, Meadel C. and Rabeharisoa V. (2002) The economy of qualities. Economy and SocietyVol. 31 (2) May 2002: 194–217
  7. Dogovona, L. and Renault M.E. (2009). What do business models do? Innovation devices in technology entrepreneurship. Research Policy 38: 1559-1570
  8. Callon (1986). Some elements of the sociology of translations: domestication of the scallops of St. Brieuc Bay, in John Law, power, action and belief: a new sociology of knowledge? London, Routledge, 1986, pp. 196-223
  9. Latour, B. (1987). Science in Action. Harvard University Press: Boston, chpt 3
  10. Kreiner, K. Tryggestad (2002). The co- production of chip and society: unpacking packaged knowledge. Scandinavia Journal of Management – vol. 18 (3), pp. 421-449
  11. MAkrich, MCallon, BLatourand AMonaghan (2002)The key to success in innovation part I: the art of interessement. Journal of Innovation Management 6
  12. Goffin, Varnes (2011) Beyond the voice of customers.
Last updated on 08-04-2014