Leader: Professor Nick Birrell

Offered

Clayton Full year 2008 (Day)

Synopsis

This core unit will provide students with a practical experience of the pathways that lead from scientific innovation to the creation of wealth. The unit is a research based unit in which students work alongside research scientists to explore the commercialization potential of their scientific research. Students apply their knowledge from the level-four business and law units to a relevant practical situation. Students will gain first hand experience in the wide range of roles involved in converting science to wealth at a personal, enterprise and economy wide level.

Objectives

On completion of this unit students will be able to:

1. Describe the seperate stages in the commercialisation of scientific research;
2. Manage the process whereby scientists protect their intellectual property;
3. Work with appropriate advisors to plan and manage processess to be undertaken to comply with regulatory requirements for the early stage commercialisation of a pharmaceautical or medical device;
4. Work with scientists, investors and appropriate advisors on the financial considerations for venture capital and financial planning pertaining to the commercialization of a scientific project;
5. Recognise the commercial potential of a scientific project that merits the protection of intellectual property and further commercialisation development;
6. Work as a team member and interact with a range of peers and clients in a commercially sensitve environment
7. Critically analyse scientific data to determine commericial possibilities;
8. Write a range of business reports such as business plans, technology assessments, marketing plans and patent applications.

Assessment

A series of written business reports relating to the project (50%)
Assessment of project outcome via an oral seminar (20%)
Assessment by the academic and commercial supervisors on the conduct of the project (30%)

Contact hours

4hrs lectures per fortnight, 4 hrs seminars and 4 hours group work/case studies

Prerequisites

BMS5011 Pathways from science to wealth