ETC Toolkit Case Example 2 – Curricular Enterprise Course offered for OPTIMA CDT PhD students and beyond (QAA 1,2,3,4,5,6,7,) #EERPF

Objective(s) or key message:

The Translational Study - Innovation and Entrepreneurship Masterclass is a student-led, independent study course designed to promote student exposure to the challenges and opportunities associated with translating healthcare innovation into a market context. The course builds on the outcomes of the OPTIMA courses (i.e. Grand Challenge, Innovation-Driven Entrepreneurship (IDE), and Ethics and Regulatory Processes in Translating Innovation from Bench to Man), or other background experience considered relevant. Students will work in small teams to examine a specific innovation of healthcare technology. The projects will be related to actual scientific research results and will address real world considerations in commercialisation, drawing on guidance and input from leading edge researchers, entrepreneurs and other professionals, including colleagues from the Business School.

Introduction: 

The course is designed as an integral part of the PhD with Integrated Studies offered by the OPTIMA CDT. It will also be able to accommodate other researchers/research students from the business school and other schools from the university with prior agreement. The current course builds on the overall programme of OPTIMA activity, in particular the Grand Challenge; the Innovation Driven Entrepreneurship course in year 1, and Ethics and Regulatory Processes in Translating Innovation from Bench to Man in year 2. In addition, it sensitises the students to the range of real world issues involved in commercialisation of healthcare technology and thus prepares them for further optional courses in innovation and entrepreneurship in year 3 (and 4).

Activity:

The course is organised in three phases: 1) ideation, 2) development research and 3) entry evaluation.

•        Phase 1, ideation, is a 3-week activity in which the teams explore a limited set of innovations relevant to their research studies. Teams will be allocated a specific case drawn from experience within the OPTIMA network and will assess how this compares with competing or other similar innovations. At the end of this phase, teams will present their findings and will be assessed on the content and delivery of their presentations.
•        In Phase 2, development research, the teams will examine what primary research on the industry and market relevant to the anticipated product or process has been carried out. Students will be encouraged to engage with industry participants to better understand customer needs, product development requirements, manufacturing parameters, and distribution and support processes. This phase will occupy 4 weeks, depending on the complexity of the particular case examined. At the end of this phase, teams will submit a draft report focussing on issues of market feasibility for formative feedback.
•        Phase 3, entry evaluation, is a 3-week activity in which teams explore the resources and processes necessary to bring the particular innovation to market. At the end of the phase, teams will submit a formal written report presenting their analysis, including a critical appraisal of the commercialization path adopted. Teams will be assessed on the content and delivery of their report. In addition, teams will present their findings to a panel including industry representatives.

Each phase will be introduced by a formal overview lecture, with further lectures and seminars covering key issues and supported by supervisory meetings each week. The experience and learnings acquired from the course will be consolidated through the submission of an individual Reflection on Learning paper, supported by a personal learning log, which the students will maintain throughout the course activities. 

Learner outcomes : 

On completion of this course, the student will be able to:

1. Work effectively in teams and understand the various roles that individuals can play in teams, including leadership and taking responsibility for individual contributions.
2. Understand the specific challenges associated with translating a research-driven innovation into a commercial context, and develop a critical appreciation of how the available theories, principles and concepts in the field of innovation and entrepreneurship can throw light on the practical issues confronted.
3. Explain the imperatives for primary research on market needs and new product requirements, using an appropriate range of specialised techniques and skills reflecting current best practice.
4. Describe the general stages of technology commercialization, informed by developments at the forefront of academic and industry experience, including a critical awareness of different organizational forms and resource requirements organizational forms and resource requirements.

Communicate the results of market and industry research using appropriate methods to both scientific and business audiences and critically assess the potential commercial value of a novel innovation for a specific market need, taking account of the need to make informed and ethically sound judgements in the face of inconsistent and incomplete information.