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University of Washington Yongmin Kim Forum on Innovation and Entrepreneurship in Biomedical Engineering Education IE/ME 496 & BIOEN 599: TECHNOLOGY-BASED ENTREPRENEURSHIP 3 credits and 3 hours a week. Open to all engineering, sciences and business students.

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University of Washington Yongmin Kim

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University of washington yongmin kim l.jpg

University of WashingtonYongmin Kim

Forum on Innovation and Entrepreneurship

in Biomedical Engineering

Education


Ie me 496 bioen 599 technology based entrepreneurship l.jpg

IE/ME 496 & BIOEN 599: TECHNOLOGY-BASED ENTREPRENEURSHIP

  • 3 credits and 3 hours a week.

  • Open to all engineering, sciences and business students.

  • Both undergraduate and graduate students.

  • Provide a comprehensive introduction to the creation of new businesses that are based on a creative technological idea.

  • Foundations of creativity and entrepreneurship.

  • Study business fundamentals.

  • Explore markets and distribution alternatives.

  • Business feasibility plans.

  • Intellectual property and legal issues.

  • Creating a business plan.

  • Team (3~5 students) business plan presentations.

University of Washington


Bpol 509 foundations of entrepreneurship entre 510 entrepreneurial strategies l.jpg

BPOL 509: FOUNDATIONS OF ENTREPRENEURSHIPENTRE 510: ENTREPRENEURIAL STRATEGIES

  • Taught by Business School and part of TEC (Technology Entrepreneurship Certificate) Program

  • Ph.D. students take five courses with MBA students:

    • BPOL 509: Foundations of Entrepreneurship (2) (primer)

    • FIN 557: Entrepreneurial Finance (4)

    • Choose two out of the following four:

      • ENTRE 510: Entrepreneurial Strategies (4) (case studies + marketing)

      • ENTRE 530: New Venture Creation and Managing Growth (4)

      • ENTRE 531: Developing Business Models for Emerging Technologies (4)

      • MKTG 530: Managing the Sales System (4)

    • One more elective course

University of Washington


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ENTRE 530: NEW VENTURE CREATION AND MANAGING GROWTH

  • The focus is on gaining new venture creation and management experience.

  • MBA and Ph.D. students develop business plans using UW technology.

  • Students learn various theories and tools for creating a new venture from lectures and case studies.

  • With a business simulator (Marketplace), students start a new business, develop and execute business strategy and plans, obtain equity investment, build the business, execute venture creation decisions, and compete with other students.

  • Business plan competition: $75K prize money.

  • WRF Capital/Gates Fellowships: full time for 10 weeks (a total of $10k per fellow), MBA and Ph.D. students working together in 3-person teams, and each group works on 2 to 3 business plans. Mentored by many people.

University of Washington


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WRF CAPITAL/GATES FELLOWSHIPS: OPPORTUNITY TO LEARN, PRACTICE AND MENTOR

  • 1 Bioengineering Ph.D. student + 2 MBA students + 1 part time law student.

  • From about 40 UW/PNNL technologies, they focused on two technologies.

  • Mentored by community (faculty members, local CEO’s, entrepreneurs, VC’s, projects managers, angel investors, etc).

  • Final product: Two business plans (one UW ultrasound technology and one PNNL biomaterial/medical device tech.).

  • PNNL technology (Company name Cogelix). Researcher’s and students continue to work together. MBA students graduated in June 2002 and are working full time on Cogelix.

    • Formation of a scientific advisory board and a business advisory board.

    • MBA Jungle in New York. Finalist (8 out of ~250 plans made finalist) placed third

    • UW Business plan competition. 1st prize ($30K), Best Technology ($5k), Governors Award ($3k + trip to Kyoto to work with businesses and VC’s in Japan)

    • Began formally moving technology into FDA (5-13G filed)

    • Currently finalizing licensing and financing terms.

University of Washington


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Qualitative Measures

Quality and uniqueness of the educational experience gained by students

Quality of business/concepts

Process/learning objectives

Interdisciplinary interaction

Involvement of local companies and VC/angel community

Goodwill created with others

Evaluation by mentors

Evaluation by inventors

Evaluation by Bioengineering/business faculty

Quantitative Measures

Number of Bioengineering majors

Student evaluation

Number of technologies analyzed at each stage

Number of researchers and mentors participating in the process

Number of business plans generated

Number of businesses funded for commercialization

Number of start-ups created

OUTCOME MEASUREMENT:DIFFICULT

University of Washington


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inson

Ultrasound applicator

M E D I C A L S Y S T E M S

  • One Bioengineering Ph.D. and two MBA students.

  • Ultrasound activated bio-compatible implant releases drug upon external ultrasound activation.

  • Controlled release “easier than injection, quicker than oral, without GI toxicity”.

  • Suitable for on-demand, small-dosage, and/or localized drug delivery.

  • Developed by Drs. Ratner, Crum, Mourad and Kwok at UW Bioengineering.

  • Patented technology, company pending incorporation and funding via grants.

Epidermis

Implant

revolutionizing

drug delivery

University of Washington


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