Courses Overview

Students in the program will undertake two focused courses in biomedical entrepreneurship and innovation in the Spring Semester, and will receive a designated certificate of achievement upon successful completion.

The courses are:

MGMT 590E:  Biomedical Entrepreneurs Thought Leaders Workshop.  This is a 1-credit course (open enrollment) which runs from 3-4 pm on Tuesdays and Thursdays in room 129 in the Burton D. Morgan Center for Entrepreneurship, and involves a series of lectures and discussions led by top thinkers in the U.S. Medical Device industry, including venture capitalists, innovation leaders in established companies, entrepreneurs, attorneys, and consultants. entrepreneurs, executives in established firms, attorneys, or physicians.  Lecture topics will include such issues as the venture capital, biomedical ethics, innovation processes in medical technology firms, evaluating high potential ventures in the medical device space, new venture management, venture finance, intellectual property, clinical trials and the regulatory approval process, integrating prototyping with concept creation, and developing business plans

MGMT 590F:  Biomedical Entrepreneurship & Innovation Practicum.   This is a 3-credit course (by application only) which runs from 4:15 - 5:30 pm on Tuesdays and Thursdays in room 119 in the Burton D. Morgan Center for Entrepreneurship.  In this practicum, students (a) engage faculty mentors who speak in MGMT 590E; (b) receive additional content; (c) participate in case discussions; or (d) work in small project teams developing computer-simulated prototypes.

These two courses are carefully integrated to provide the content and direction necessary to enable students to produce an oustanding business plan or a commercialization plan around a medical device need in the marketplace.  The overall program will have two phases:

Phase 1: Evaluation and Development of Concepts
In coordination with the Weldon School of Biomedical Engineering, the Indiana School of Medicine, and the Krannert School of Management, a set of needs are presented to the students for consideration as the basis for a commercialization plan.   Students will work in teams to identify and evaluate the most promising needs.  This is an iterative process that includes suggesting, discarding, resurrecting, and reconfiguring concepts. By the middle of the semester the students will have chosen several new concepts to be carried forward to actual development. This sorting and prioritizing process will involve extensive input from faculty coaches, mentors, and expert panelists who witness student presentations.

Phase 2: Refining the Concepts
The second phase is concerned with the planning implementation stage, where students are expected to pull it all together. Having characterized real clinical needs and developed concepts to solve them, the students will identify the best business model to take the ideas forward. This may take the form of a new research program, a licensing strategy, further incubation, or the creation of a new start-up company. Students will create a business plan or commercialization plan around their business model.  Once again, this process is facilitated by extensive input from faculty coaches, mentors, and expert panelists who witness the presentation of the business plan.