BIOL3441: Biological Enterprise

• Satisfactory completion of Level 2 course in Biological Sciences.

• None.

• Level 3 Research Project (BIOL3571), Level 3 Research Proposal (BIOL3631), Contemporary Issues in the Biosciences (BIOL3641), Public Engagement in Biosciences (BIOL3661).

• To introduce students to: the key process of business start-up, specifically within the context of the biotechnology sector; the key factors and considerations that influence the decision making process of commercialisation of biotechnological innovation; the necessary skills, knowledge and resources required to take biological innovation from concept through to credible commercial propositions; the purpose of a Business Plan and, using a self-generated idea, how to prepare and present a Plan.
• To develop students enterprising and group working skills and behaviours.

• Overview of the biotechnology sector.
• Generating and evaluating business ideas using SWOT analysis etc.
• Testing ideas against the market eg primary and secondary research, competitor analysis etc.
• Business Plan form and function and resource planning.
• Financial management and planning.
• Legal aspects , including Intellectual Property, regulatory and ethical issues.
• Selling to the market.
• Raising finance eg Venture Capitalists, Business Angels etc.
• Presenting clear and commercially viable business concept and scientific basis of the product in Business Plan and oral formats.

Subject-specific Knowledge:

• Ability to discuss in depth a chosen biological process particularly with regard to its potential application in a commercial context.
• Demonstrate how to plan for the launch of a new business venture, particularly with regard to the biotechnology sector.
• Describe the key challenges and issues associated with commercialisation of a biological innovation.
• Demonstrate an understanding of the responses and strategies used to overcome these challenges and address issues, risks etc.
• Demonstrate development of their enterprising skills, behaviours and attitudes.

Subject-specific Skills:

• Describe and summarise information from self-study and guided research on a self-selected biological topic.
• Describe and summarise information from lectures, textbooks and other sources on key areas of business planning.
• Describe the process and resources required in business planning, particularly start-ups in the biotechnology sector.

Key Skills:

• Interpretation and understanding of information from relevant sources (lectures, textbooks, online sources).
• Interpretation and evaluation of data.
• Strategic thinking and planning of time, resources etc.
• Group working, negotiation and consensus building.
• Presentation of scientific and business ideas to academic and non-academic audiences in oral and written formats.

• Lectures, Tutorials, Group work, Data handling, Essays and Oral Presentation.

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