English   Danish

2019/2020  KAN-CBIOO1008U  Bioentrepreneurship

English Title
Bioentrepreneurship

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory offered as elective
Level Full Degree Master
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for MSc. in Business Administration and Bioentrepreneurship
Course coordinator
  • Palle Høy Jakobsen - Department of Strategy and Innovation (SI)
Main academic disciplines
  • Entrepreneurship
  • Innovation
Teaching methods
  • Face-to-face teaching
Last updated on 01-07-2019

Relevant links
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.
  • Account for the 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 biotech venture. The element of the business plan should reflect skillful 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
This is a mandatory course for the MSc in Business Administration and Bioentrepreneurship. 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.

To sign up send a 1-page motivational letter and a grade transcript to ily.stu@cbs.dk before the CBS registration deadline for elective courses. You may find the registration deadlines on my.cbs.dk ( https:/​​​/​​​studentcbs.sharepoint.com/​​​graduate/​​​pages/​​​registration-for-electives.aspx ). Please also remember to sign up through the online registration.
Examination
Bioentrepreneurship:
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 Individual oral exam based on written group product
Number of people in the group 4-5
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
Grading scale 7-point grading scale
Examiner(s) Internal examiner and second internal examiner
Exam period Winter
Make-up exam/re-exam
Same examination form as the ordinary exam
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 or did not show up at the oral 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.
Description of the exam procedure

There will be two rooms, the group being examined will wait in the other room while one student from the group is examined.

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 4-5 students must hand in max. 15 standard pages and one student must hand in max. 15 standard pages. The mini project (business plan) is written in parallel with the course and must be submitted at a date that will be close to 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).
Course content, structure and pedagogical approach

The course is a cooperation at master degree level between Copenhagen Business School (CBS), The Technical University of Denmark (DTU) and Copenhagen University (KU) bridging 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.

 

Key features of the course include:

  • Students will be working in project teams 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.

 

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.
Description of the teaching methods
The course consists of eight three-hour seminars plus four coaching sessions covering key themes in bio-entrepreneurship:
• Science case: understanding the scientific foundations, the technological merits and limitations of the invention; identifying the product
• Business Model: identifying the value proposition; market and competitor analysis
• IPR situation: Understanding the intellectual property rights (IPR) situation and developing a viable IPR strategy
• Business Plan: Assembling a coherent and compelling business plan document

Each seminar offers both theoretical and practical approaches. Professors from CBS provide theory and methodology, while selected 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. In addition, the students are supported by supervision offered by academic and industry experts. Groups are 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 strongly suggested to submit a 3 page project summary to enter the Idea Competition of Venture Cup http:/​/​venturecup.dk/​venture-cup-idea-competition-2019/​ if there are no confidentiality restrictions. It is also recommended to submit some month later the entire business plan to the Venture Cup Business Plan Competition.
Feedback during the teaching period
Students will regularly receive feedback on intermediate work outcomes, primarily provided during the four coaching sessions. Feedback on the final product, the business plan, will be given at the oral examination.
Student workload
Lecture 50 hours
Preparation 156 hours
Expected literature
  • Jakobsen PH. (2019): Commercialisation of Biotechnology Research. Saxo Publish, third edition.
  • Collis, David J, Ruckstad, Michael G. (2008): “Can you say what your strategy is?” Harvard Business Review 86(4), 82-90.
  • 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
  • Yock Paul G., Zenios Stefanos, Makower Josh, Brinton Todd J., Kumar Uday N., Watkins Jay F.T., (2015). Biodesign – The process of innovating medical technologies. Cambridge University Press, second edition.

 

Additional literature will be announced in the course syllabus.
Last updated on 01-07-2019