Life Sciences Enterprise Project
Unit code | BIOL31080 |
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Credit rating | 40 |
Unit level | Level 3 |
Teaching period(s) | Full year |
Available as a free choice unit? | No |
Overview
The Life Sciences Enterprise Project is a collaboration between the School of Biological Sciences and the Masood Entrepreneurship Centre. Working in a team of 5-7 you will invent a Biotech company, develop its business plan and pitch for investments or a partner in a ‘Dragons’ den’ style event.
Aims
Provide students with an authentic and professionalising experience where they will:
• Examine the processes involved in recognising the potential of university-based research in the Life Sciences to solve commercially valuable problems in the marketplace
• Gain a deeper understanding of one research area of the Life Sciences
• Gain awareness of the current industrial landscape in the area of the project worldwide.
• Develop the competencies needed to recognise, develop and exploit a business opportunity
• Use a framework to map out and develop a strategic plan to implement and transfer to market an innovative product/service.
• Research, produce and present a business case for exploiting a scientific idea within a commercial setting at several stages and in different forms: business proposal, strategic business analysis, business plan and business pitch.
• Develop a broad range of transferable skills required to effectively carry out, as a team working online or F2F, a real life project with many deliverables using a Problem Based Learning approach: e.g. team working, project management, digital literacy, research, analysis, creative problem solving, critical thinking, decision making, negotiation, networking, communication [oral and written].
• Analyse and reflect on the processes of team working, managing a project and other skills development to support self-development and team development.
• Articulate and evidence skills development to support employability.
Learning outcomes
Syllabus
Employability skills
- Analytical skills
- To develop their product/service into a commercial venture, students will have to constantly solve problems, critically evaluate the information gathered, and make team decisions.
- Group/team working
- Students will be divided into teams of 5-7 and work together over one semester towards regular deadlines. They will establish their own action plan to manage the project.
- Innovation/creativity
- Students will have the opportunity to come up with innovative solutions to real world problems. They will use creatively to solve problems and in their communications.
- Leadership
- Students will have the opportunity to chair meetings in turn in semester 1 and a team leader will be elected in semester 2.
- Project management
- A project manager will be elected in semester 2. Teams will use software tools of choice and are required to follow basic processes: action plan, task allocation, meetings with agenda & minutes, sharing and co- creation of documents, monitoring performance and quality of work weekly.
- Oral communication
- There are three formal presentations: business proposal (poster), consultancy client presentation and business pitch (team presentations). Informal presentation of research and progress are due weekly within team and for supervisors.
- Research
- Science: All students must research the scientific background behind their given topic and decide on a potential commercial application (semester 1). Once the service/product is decided, one or two students will undertake the product development section which requires very applied and technical research. Business/regulatory: All students will carry out a preliminary feasibility study for their commercial application (semester 1). Once a concept is chosen, students will need to establish the regulatory paths, business model, value proposition, competition, market, operations…
- Written communication
- Business proposal poster and business plan.
- Other
- Due to the nature of the course, students have ample opportunities to develop many transferable skills (business awareness, organisation skills, resourcefulness etc.) and this development is supported via reflective logs.
Assessment methods
Method | Weight |
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Other | 50% |
Project output (not diss/n) | 50% |
Individual work (50%):
FORMATIVE: business idea presentation + poster draft
Poster on business proposal + QA= 20% (end of Semester 1 and QA start of semester 2)
Reflective portfolio = 10% (ongoing)
Project performance mark = 10% (ongoing)
Teamwork (50%):
FORMATIVE: Business concept, consultancy proposal.
Consultancy client presentation = 20% (week 7)
Business plan = 30% (end of Semester 2)
Business pitch = 10% (end of Semester 2)
Feedback methods
Feedback is provided through supervisor interaction throughout and during all assessments.
Recommended reading
- Shreefal S. Mehta (2008) Commercializing Successful Biomedical Technologies: Basic Principles for the Development of Drugs, Diagnostics and Devices. Cambridge University Press
- Yali Friedman (2004) Building Biotechnology: Starting, Managing, And Understanding Biotechnology Companies. Thinkbiotech
Study hours
Scheduled activity hours | |
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Project supervision | 55 |
Independent study hours | |
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Independent study | 345 |
Teaching staff
Staff member | Role |
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Martin Henery | Unit coordinator |
Maggy Fostier | Unit coordinator |
Additional notes
• 120 hrs for semester 5 and week 1 of semester 2 (dedicated to project work)
o 34 hrs in classes
o 4 hrs with supervisors
o 80 hrs preparation for classes, poster, ongoing reflective portfolio
• 280 hrs for semester 6 – teamwork for weeks 1-11 (11 weeks) in semester 6
o 6 hrs in classes and 11 hrs with supervisors (1hr a week/person)
o ~20 hrs /week/per person to work on all semester 6 milestones and assignments