Introductory description

The Business, Innovation and Commercialisation for Researchers module, run in conjunction with Warwick Innovations, the highly successful commercial technology transfer office of the University, aims to inform the participant how to better recognise and assess a commercial opportunity - be it research driven, an innovation or your own idea - whether you intend to start a company, be part of a University spin-out or plan your future career in industry or academia.
The module may enhance career opportunities of participants in several ways:

• Obtain recognition form the academic community for your research talent.
• Maximise your post-PhD proposals for a rewarding career whether a traditional science research career, or part of a new venture creation.
• Leverage opportunities from your Intellectual capability and knowledge base.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

The course comprises 10 one hour sessions over 5 weeks, where participants will be working both individually and in teams for group activities. There is a one hour review session with team leaders before the final two hour presentation of a business opportunity prepared by each team.

• Demonstrate a critical Understanding of the need for greater levels of commercialisation and the
  commercialisation process.
• Demonstrate a general understanding of the different types of Intellectual Property (IP).
• Demonstrate a understanding where it is appropriate to use IP in commercialisation of technology, an idea or
  product.
• Demonstrate a general understanding of strategy and the strategic process and its importance in delivery of the
  business model and commercialisation process

The topics will concentrate on and cover the following

1. IP – why and when intellectual property is important
2. Understanding Markets through

• Market Research – a need/demand a ‘gap’ in the market
• Testing market appetite through ‘the voice of the customer’
• Assessing potential market viability – will it be profitable; will it achieve key objectives such as being socially
  or environmentally aligned to need
• Routes and channels into the market – partnerships or direct to the customer
• Competition and Technology awareness -

1. The Value Proposition

• why would the target customer buy the product over existing alternatives?
• What would attract an investor
• Which market sector and customer type - where does the product fit in the market

1. The Business Model

• Shaping the idea into a business
• Putting a structure and a team together to deliver the opportunity
• The strategy to be employed to achieve the business goals
  o IP Licensing; Partnerships and collaboration; Joint Venture
  o Going it alone or with others
• Sources of Finance – a short overview of the types of finance that may be accessed and or are appropriate for
  the chosen business model

1. Presentation by existing Warwick Innovation Spin Out Opportunities
   o Understand how commercialisation is developed
2. The final session will be a 'mock' presentation of the business idea/research - usually in groups of 3-4 (individually if preferred), as if further support and resources were actually being sought to progress an opportunity.

Learning outcomes

By the end of the module, students should be able to:

• Demonstrate a critical understanding of the commercialisation process.
• Demonstrate a general understanding of the different types of Intellectual Property (IP).
• Demonstrate understanding of value proposition as a way to communicate an idea.
• Demonstrate understanding of the importance of business models as part of the commercialisation process.
• Understand the importance of teams to the success of a business.

Indicative reading list

Reading lists can be found in Talis

Specific reading list for the module

Interdisciplinary

Communicating and working across disciplines with module participants from different SEM departments

Subject specific skills

Critical understanding of the need for greater levels of commercialisation and the commercialisation process.
Detailed understanding of the different types of Intellectual Property (IP).
An understanding where it is appropriate to use IP in commercialisation of technology, an idea or product.
An understanding of strategy and the strategic process and its importance in delivery of the business model and commercialisation process.

Transferable skills

Key Skills
Written communication skills developed through the business plan (and, where relevant, the individual report)
Oral communication skills developed through team commercialisation process and group presentations.
Critical understanding of team development processes, team structure and dynamics to work effectively with others including harnessing multi-disciplinary expertise, and managing team-based projects, conflict and decision making.