Module Catalogue 2024/25

Pre Requisite Comment

N/A

Co Requisite Comment

N/A

Aims

This module aims to introduce research students to the many considerations that need to be made when commercialising research findings. Students will use real life case studies as the basis to investigate how research can be turned into a business. External expertise will offer students an insight into business development beyond the initial stages.

Outline Of Syllabus

• The life cycle of a business and planning an exit strategy
• Case Studies of commercialisation of research
• Intellectual property rights
• Business planning, accounting and finance
• Marketing
• Industry standards
• Considerations for expansion
• Project management
• Team working

Intended Knowledge Outcomes

By the end of the module the students should be able to:

• Critically review and reflect upon how research work can be commercialised
• Determine and define the appropriate Intellectual Property protection that could be associated with a research idea
• Offer a thoroughly considered and informed opinion on a start-up company’s potential life cycle
• Present a robust business proposal that includes supporting evidence demonstrating an appreciation of appropriate accounting, finance, contracts and legal agreements
• Demonstrate the applications of information regarding working to appropriate industry standards and scale up of production of process to a spin-out company scenario.

Intended Skill Outcomes

By the end of the module the students should be able to:
1. Develop self-awareness with regards team dynamics and be able to assess their contribution to a team
2. Accept and deal constructively with fair criticism
2. Deliver an oral presentation to a small audience articulating a proposal
3. Critique a current business or the potential for commercialisation of a research finding
4. Prepare a robust written business proposal
5. Be proficient in the use appropriate databases and market intelligence to search for information and offer a carefully considered perspective on the commercial potential of bioscience business or research findings

Teaching Rationale And Relationship

Genuine case studies will provide a model for investigation, broader information on the considerations for the commercialisation of research will provide information for students to critically appraise these case studies. The interactive seminars (workshops) will encourage the students to reflect, both individually and in small groups on the case studies presented. Students will then be able to consider what has been successful and what could have been changed in the case studies. This real world development of research ideas into commercial outcomes will present students with a situation through which they can get a genuine feel for how research ideas are taken forward into business. The external expertise will highlight the considerations that researchers should make about how to deal with research findings to make a future for the business. Students will need to work in groups and their ability to do this effectively will be assessed through their reviews of each other’s work, this will encourage co-operation and the development of leadership.

Assessment Rationale And Relationship

This module is intended primarily to enable students to develop an understanding of the opportunities within the bioscience sector including the biopharma and biotechnology industry. These are practical skills and will be assessed by presentation of a review of a current spin-out business that will include proposals for how a company could be taken forward. The review and proposal will be presented in front of an expert panel from University and Business which will be followed by a question and answer session.

Students will make a report and initial proposal individually; these reviews will be based on only the Case Study information. Students will then be provided with more information about the set-up , structure financing, business life cycle and expansion. With this information students will review each other’s initial reports. We aim to prepare students for a typical working environment where team work and diplomacy are as important as knowledge.

Small groups of students (typically 3-4 students per group) will be encouraged to draw together the information in their reviews and proposals to create a final report including an executive summary. Students will be able to collect the views of experts on their report and submit a final piece of work that is of a very high standard. Dealing with critical reviewing and creating of a positive but realistic review of a current business along with a inventive but thoroughly considered proposal for that business will give the students a solid understanding of how research can relate to the business world.

General Notes

Students will be given the perspective of researchers, who are either in the process of or have commercialised their research work, in a number of case studies. The students should be able to identify what are important considerations when commercialising a bioscience research finding. Students should gain awareness of the costs and funding models that support early stage start up they will also be made aware of the significance of protecting intellectual property through patents and alternative means to protect business ideas. A range of external speakers will provide information on how small business can develop further and the importance of operating to standards such as ISO (International Standards Organisation) and GMP (Good Manufacturing Practice). Using the information provided students will be able to critique the case studies presented and create a proposal on possible future steps for one of the case studies presented. Students should be able to identify important factors for success when a bioscience or biotechnology company is being formed and critical factors for success when moving forwards with a consideration of ultimate goals, end points and exit routes. Input from larger companies and industry experts will help students to identify how researchers can future-proof their business ideas and considerations for managing a project such as the start up of a company.
Students will need to demonstrate critical awareness and analytical skills when considering the case studies presented. There will also be requirement for creativity as the students create proposals for the studies that have been presented. Students should develop team working and communication skills as they develop their ideas in a group and present their ideas to their peers and to tutors.
It is hoped that students will develop knowledge of the industrial environment that will support their confidence to work with industry either as an academic researcher or through the transition into industry