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Year of entry: 2023
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Course unit details:
Life Sciences Enterprise Project
|Unit level||Level 3|
|Teaching period(s)||Full year|
|Available as a free choice unit?||No|
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.
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.
• Generate, evaluate and shape ideas
• Critically evaluate information in order to improve decision making, formulate objectives, determine strategies and plan actions
• Identify the resources needed to establish and sustain a successful venture
• Assess the commercial potential of a business opportunity
• Evaluate the issues that can impact on the successful commercialisation of a business idea
• Demonstrate an understanding of how basic science can be commercialised
• Communicate the value of a business opportunity
Construct an effective business plan
• Use technology to source information, work collaboratively, create and curate content, and for project management.
• Research, analyse, evaluate and utilise information from a variety of sources
• Develop, structure and communicate ideas effectively
• Develop and utilise creative problem-solving skills
• Plan and prioritise workload to work effectively alone or in a team
• Reflect on individual and team performance as a basis for personal and team development, project management, and for future employment.
Effective team project management using weekly detailed action plans and minutes communicated to team and staff. Use reflection to anticipate and solve problems in team, if problem is too big: be proactive in seeking support from staff in a timely fashion.
• Develop useful networks
Projects are worth 40 credits.
In semester 5, students work individually towards their business proposal poster and attend a series of compulsory classes to support its development (32 hours of training: 14 hrs of business workshops, 14 hrs of soft skills workshops, 4 hrs of tutorial with supervisor). Students will present the bioscience behind their business idea to their supervisor and receive feedback on their draft poster. Students will submit the poster to be marked and attend a Q&A session in Week 1 of semester 6.
In semester 6, Week 1 is dedicated to projects starting with the poster presentation. Students then choose one project to work on as a team for semester 6. There are 6 hrs of business workshops to support the semester 2 assessments, and weekly meetings (2 a week: with and without the supervisor) to develop their business analysis report (consultancy client presentation), business plan and business pitch.
Through the year, students also complete a reflective portfolio (5 entries) focusing on their individual and team development. At the end, they evidence what they have learnt from the course in a reflective piece or a job application.
Feedback is provided through supervisor interaction throughout and during all assessments.
- 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
|Scheduled activity hours|
|Independent study hours|
|Martin Henery||Unit coordinator|
|Maggy Fostier||Unit coordinator|
• 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