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2014/2015  KAN-CBIOU1001U  BBIP Entrepreneurship Project

English Title
BBIP Entrepreneurship Project

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Course period Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 25
Study board
Study Board for MSc. in Business Administration and Bioentrepreneurship
Course coordinator
  • Jörg Claussen - Department of Innovation and Organizational Economics (INO)
Only 25 students, 12 of which will come from CBS can be enrolled in the programme. Students enrolling for the minor in bioentrepreneurship are selected first.

A special application process is required for participating in this course. Application deadline is June 25th at 12am.
CBS students have to apply through the official CBS course enrollment as well as send their application to bbip@cbs.dk.
DTU/KU student must apply by filling out an application form (required at and sent to the CBS Elective Secretariat) as well as send their application to bbip@cbs.dk.
Your application should include 1) Short Motivational essay. 2) Grades (both bachelor and master level). 3) Curriculum vitae. 4) Recommendation (if available).
Main academic disciplines
  • Innovation and entrepreneurship
Last updated on 21-05-2014
Learning objectives
In this course students learn the central skills in science-based entrepreneurship in the biotech industry. The course provides students with the necessary knowledge on how to bridge science and business and translate biotech concepts into commercial terms. It also enables students to understand the differences in issues and challenges in science-based industries related to entrepreneurship and innovation. Finally students will develop the skills to successfully work in interdisciplinary teams and jointly produce business plans that are ready for submission to a business plan competition or presented to potential venture capitalists.

At the end of the course, students should be able to:
  • account for theoretical approaches to business venture creation in biotech, and apply the theoretical perspectives in composing a business plan. On this basis, to validate the underlying working hypotheses in which the business plan is based on.
  • discuss and assess the particular business conditions affecting commercialization of life sciences, hereunder, strategic choices, business models, financing, corporate governance, sales, marketing, regulatory affairs, and be able to assess and conduct a market-analysis, a distribution- and sales analysis, as well as a marketing plan
  • conduct IP analysis, hereunder initial freedom to operate, novelty and patentability searches
  • compose and write a business plan offering a convincing presentation of a bio venture. The element of the business plan should reflect skilful application of theories and tools from the course
  • demonstrate understanding of the biotech and business concepts presented in the course curriculum and in lectures as well as an appropriate application of theories, concepts and methods.
Course prerequisites
For CBS students, the course builds on skills from first year studies in the Cand Merc programs FIR, FSM, ASC, AEF, IMM, IBS, MIB. The course can be selected without former knowledge in BioBusiness, Innovation and entrepreneurship and is primarily aimed at students who have completed their first year of master (cand. merc.) studies, and seek skills in science-based entrepreneurship and innovation management in the biotech industry.
Examination
BBIP - Entrepreneurship Project:
Exam ECTS 7,5
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. 5 students in the group
Size of written product Max. 15 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
Preparation time No preparation
Grading scale 7-step scale
Examiner(s) Internal examiner and second internal examiner
Exam period Autumn Term and December/January
Aids allowed to bring to the exam Closed Book
Make-up exam/re-exam
Same examination form as the ordinary exam
Description of the exam procedure
The exam is an oral exam on the basis of a group mini-project (business plan for commercializing an invention that has recently grown out of research from universities or biotech firms). Groups with 3-5 student must hand in max. 15 standard pages and one student must hand in max. 10 standard pages. The mini project (business plan) is written in parallel with the course and must be submitted one week after the last class session. The performance assessment of the exam will be based on the following criteria:
  • Demonstrated understanding of the biotech and business concepts presented in the course curriculum and in lectures as well as an appropriate application of theories, concepts and methods. The exam may address any relevant part of the curriculum (i.e. is not restricted to that part of it which is considered in the written project)
For students enrolled into the cand.merc.(bio.) programme, the BBIP - Entrepreneurship Project does not have a separate exam but students must hand in their mini-project (business plan). The mini-project is part of the master thesis.

If a student is ill during the regular oral exam, he/she will be able to re-use the project at the make-up exam. If a student is ill during the writing of the project and did not contribute to the project, the make-up exam can be written individually or in groups (provided that other students are taking the make-up/re-exam). If the student did not pass the regular exam, he/she must make a new revised project/business plan (confer advice from the examiner) and hand it in on a new deadline specified by the secretariat.
Course content and structure

The course is part of the master degree offered by the BioBusiness and Innovation Program (BBIP). The course is a cooperation at master degree level between Copenhagen Business School (CBS), the Technical University of Denmark (DTU) and Copenhagen University (KU), making it the first attempt to bridge the skills of business and biotech students. As the biotech industry builds on industry-academic collaboration the course prepares students for the advanced entrepreneurial environment of this industry by offering integrated insights into the entrepreneurial process, including both its technical aspects and its business perspectives. Students are trained to build the start-ups required for successful science-based entrepreneurship, while they build networks spanning the three universities and industry.
 
In BBIP entrepreneurship project course students from CBS, DTU, and KU are offered a platform for joint entrepreneurial work on innovations generated either by DTU, KU or partner companies from the Biotech industry such as Novozymes, Coloplast, Lundbeck, Novo Nordisk and LEO Pharma. Key features of the course include:
 

  • Students will be working in project teams consisting of DTU, KU and CBS students, jointly addressing technical and commercial aspects in launching and commercializing an invention and writing a business plan.
  • The projects are timed and formatted to allow direct entry into the bio-section of the Venture Cup competition.
  • The same projects might become the backbone of master theses handed in at CBS, KU and DTU given that one or several of the analytical challenges encountered in the project are developed in the form of an academic analysis.
  • Project work is supported by lectures, coaching and supervision on bio-entrepreneurship with faculty coming from CBS, KU, DTU, and industry, offering an integrated and effective framework for working on actual biotech innovations.
Teaching methods
The course consists of eight three-hour seminars plus five coaching sessions covering key themes in bio-entrepreneurship:

• From Science to Biotech – defining the product
• Business Strategy – market intelligence and competitor analysis
• Business Development – organization, implementation, IPR and financing
• Managing Biotech – communication, partnerships, and exit opportunities

Each seminar offers both theoretical and practical approaches. Professors from CBS provide theory and methodology, while speakers from industry offer practical insights and real-life examples. Selected seminars are also based on student contribution, where project teams have the chance of presenting sub-elements of the business plan in plenum. During these sessions, co-students, industry participants and CBS professors will act as coaching partners. This teaching prepares students to build a business plan for a bio-venture. This teaching prepares you to build a business plan for a bio-venture.
In addition, the students are supported by supervision offered by academic and industry experts. Groups are also given the opportunity to discuss their projects with the speakers from academia and industry. Students will be working in groups of 4-6 members, with at least one student from either university.
It is mandatory to submit a 3 page project summary to enter the Idea Competition of Venture Cup http:/​/​www.venturecup.dk/​competitions/​. It is recommended but optional to submit some months later the entire business plan to Venture Cup Business Plan Competition.
Further Information
Teacher(s):Finn Valentin (Professor), Karin Beukel (PhD fellow), Thomas Ritter (Professor), Jörg Claussen
Expected literature
  • Brodersen, Hal. (2005)“Virtual reality: the promise and pitfalls of going virtual”. Bioentrepreneur.
  • Collis, David J. and Rukstad, Michael G. (2008)“Can You Say What Your Strategy Is?” Harvard Business Review 86(4), 82-90.
  • Georg, Gerard & Bock, Adam J. “Inventing Entrepreneurs – technology Innovators and their entrepreneurial journey” Prentice hall (2009)
  • Kaplan, Sarah & Murray, Fiona,(2010),"Entrepreneurship and the construction of value in biotechnology", Nelson Phillips, Graham Sewell, Dorothy Griffiths, in (ed.) Technology and Organization: Essays in Honour of Joan Woodward (Research in the Sociology of Organizations, Volume 29), Emerald Group Publishing Limited, pp. 107 - 147
  • Kolchinsky, Peter (2004).The Entrepreneur’s Guide to a Biotech Startup. 4th edition, ch: The Big Picture, Evaluating the idea, Raising Money – download at http:/​/​www.evelexa.com/​resources/​EGBS4_Kolchinsky.pdf

 
 
Last updated on 21-05-2014