The BioMedical Entrepreneurship Program

The BioMedical Entrepreneurship program

The Biomedical Entrepreneurship Program, developed by the NYU Office of Industrial Liaison (OIL) in collaboration with the NYU Entrepreneurial Institute, helps accelerate the commercialization of biomedical discoveries and inventions made at NYU. World class educators and entrepreneurs train postdocs, graduate students and clinicians to become successful entrepreneurs, and participants study the multiple facets of venture creation and experience the entrepreneurial process with real projects ripe for commercialization.

The program is open to postdoctoral fellows, senior PhD students (years 4 and up) and all members of the NYU community working on biomedical technologies, including all NYU campuses. NYU Stern MBA students may register, as well, and will be accepted based on space availability.

In spring 2018, the program will offer the course “Venture Creation in the Biomedical Industry”, which will be co-taught by Michal Gilon-Yanai and Frank Rimalovski, with excellent guest speakers.

Link to registration: Venture Creation in the Biomedical Industry

For more information, please contact Michal Gilon-Yanai, Associate Director – Biomedical Entrepreneurship Program, NYU Technology Ventures and Partnerships (TVP).

Course plan (full syllabus will be sent to participants):

Venture Creation in the Biomedical Industry

Week

Day/Date/Time

Topics

1

Monday, February 12, 4-7pm

Identifying target applications for a new technology –
Secondary market research and the market segmentation matrix

2

Monday, February 19, 4-7pm

Selecting a beachhead market; review of customer discovery and the Business Model Canvas (BMC)

3

Monday, February 26, 4-7pm

Product-Market Fit and IP Strategy - establishing long term barriers and the freedom to operate

4

Monday, March 5, 4-7pm

Planning: Research-Technology-Product roadmaps,
value inflection points and main activities that will be required to develop and bring the product to market

5

Monday, March 12, 4-7pm

Activities, resources and costs - building a team versus outsourcing, working with consultants/advisors/CROs, putting together an initial budget

6

Monday, March 19, 4-7pm

The Regulatory Strategy

7

Monday, March 26, 4-7pm

Partners, Channels and Customer Relationships

 

Monday, April 2

No class

8

Monday, April 9, 4-7pm

Reimbursement strategy and clinical validation – what do you need to show, to convince your potential customers?

9

Monday, April 16, 4-7pm

Future Revenues – understanding pricing strategies and channel economics

10

Monday, April 23, 4-7pm

The basics of financial statements

11

Monday, April 30, 4-7pm

Preparation for final presentations

12

Monday, May 7, 4-7pm

Final Presentations

 

Two courses were completed during the fall 2017 semester:

Introduction to Biomedical Entrepreneurship*
An overview of venture creation and development in the biomedical space and the unique challenges and rewards that it presents, via lectures and case study discussions led by faculty, industry professionals and experienced entrepreneurs and investors.
September 27 – December 20, 6:10-8pm
Location: NYU Medical Center, Skirball Institute 4th floor Seminar Room

Opportunity Discovery and Innovation in the Biomedical Industry
And introduction to innovation methodologies including “Design Thinking” and “Systematic Inventive Thinking”, as well as the criteria for filtering new venture ideas.
Dates: September 27 – December 20, 4:00-5:50pm
Location: NYU Medical Center, Skirball Institute 4th floor Seminar Room

*Completing this course provides priority admission to the venture creation course in spring 2018

Course plans (full syllabus will be sent to participants):

Introduction to Biomedical Entrepreneurship

Week

Day/Date/Time

Topics

1

Wednesday, September 27,
6:10-8:00 pm

General Introduction Class

2

Wednesday, October 4,
6:10-8:00 pm

The Healthcare/Life Sciences industry - an overview

3

Wednesday, October 11,
6:10-8:00 pm

  • The new startup – an organization in search of a valid, repeatable, scalable business model;
  • Evaluating the market opportunity

4

Wednesday, October 18,
6:10-8:00 pm

The Product – What should you develop to solve the customer problem/address the unmet need?
Is it feasible & patentable?

5

Wednesday, October 25,
6:10-8:00 pm

  • The Team (and other resources needed to build a product and develop a valid, sustainable business model) – How will you get this done?
  • Licensing IP – A key resource

6

Wednesday, November 1,
6:10-8:00 pm

Entrepreneurial Strategy

7

Wednesday, November 8,
6:10-8:00 pm

The process for bringing a therapeutic to market (technical, clinical and business aspects)

8

Wednesday, November15,
6:10-8:00 pm

The process for bringing a medical device to market (technical, clinical and business aspects)

 

Wednesday, November 22

No class Thanksgiving week

9

Wednesday, November 29,
6:10-8:00 pm

The process for bringing a digital health product to market (technical, clinical and business aspects)

10

Wednesday, December 6,
6:10-8:00 pm

  • Sources of funding
  • Legal issues related to venture creation

11

Wednesday, December 13,
6:10-8:00 pm

Preparing to raise money – the main components of a business pitch and investor expectations

12

Wednesday, December 20,
6:10-8:00 pm

  • Being an entrepreneur;
  • Other opportunities in health tech commercialization

 

Opportunity Discovery and Innovation in the Biomedical Industry

Week

Day/Date/Time

Topics

1

Wednesday, September 27,
4:00-5:50pm

Introduction to the course:

  • A new mindset – Creator, Innovator, Entrepreneur
  • Identifying opportunities
  • Approaches to innovation

2

Wednesday, October 4,
4:00-5:50pm

Design Thinking
Empathize – interviews, observations and other design research methods

3

Wednesday, October 11,
4:00-5:50pm

Design Thinking
Define – framing the problem (Point Of View)

4

Wednesday, October 18,
4:00-5:50pm

Design Thinking
Ideate Brainstorming

5

Wednesday, October 25,
4:00-5:50pm

Design Thinking
Prototype–creating physical prototypes, sketches, scenarios etc.
Test– performing user testing, collecting and integrating  feedback

6

Wednesday, November 1,
4:00-5:50pm

Design Thinking
Storytelling – pitching and describing your idea

7

Wednesday, November 8,
4:00-5:50pm

Systematic Inventive Thinking (SIT)

  • The axioms
  • Subtraction Template

8

Wednesday, November15,
4:00-5:50pm

Systematic Inventive Thinking (SIT)
Division/Multiplication Templates

 

Wednesday, November 22

No class Thanksgiving week

9

Wednesday, November 29,
4:00-5:50pm

Systematic Inventive Thinking (SIT)
Task Unification template

10

Wednesday, December 6,
4:00-5:50pm

Systematic Inventive Thinking (SIT)
Attribute dependency template

11

Wednesday, December 13,
4:00-5:50pm

Market analysis and filtering ideas/opportunities

12

Wednesday, December 20,
4:00-5:50pm

Final Presentations