CBM372 Medical Innovation and Entrepreneurship Syllabus:
CBM372 Medical Innovation and Entrepreneurship Syllabus – Anna University Regulation 2021
COURSE OBJECTIVES:
The student should be made to:
• To learn fundamentals of entrepreneurship
• To apply the methods of entrepreneurship in medical field
• To evaluate the medical devices and market trends
UNIT I CREATIVITY, INNOVATION AND IPR
The role of creativity – The innovation Process – Sources of New Ideas – Methods of Generating Ideas – Creative Problem Solving – Entrepreneurial Process. Patents – Copyright – Trademark Geographical indications – Ethical and social responsibility and challenges.
UNIT II SCOPE FOR BIOMEDICAL ENGINEERING ENTREPRENEURSHIP
Definition– Characteristics and Functions of an Entrepreneur – Common myths about entrepreneurs. Fundamentals and models, Advancements in biomedical field, Supporting societies and professional activities. Impact of innovation in medical devices. Case study.
UNIT III NEW VENTURE
Developing an Effective Business Model: The Importance of a Business Model – Starting a smallscale industry – Components of an Effective Business Model. Assessing the venture, establish venture invention, market research, presenting the business plan. Forms of Business Organization: Sole Proprietorship – Partnership – Limited liability partnership – Joint Stock Companies and Cooperatives. case study.
UNIT IV FINANCING THE NEW VENTURE AND GLOBALIZATION
Evaluating Various options and future investments – Medical Device entrepreneurship incentives and subsidies – Determining Financial Needs – Sources of Financing: support for product development, funding agencies, collaborative initiatives, and angel investors. Impact of Globalization: Medical product manufacturing, marketing, leadership, quality management. Case studies.
UNIT V MARKETING FUNCTION
Industry Analysis – Competitor Analysis – Marketing Research for the New Venture – Defining the Purpose or Objectives – Gathering Data from Secondary Sources – Gathering Information from Primary Sources – Analyzing and Interpreting the Results – The Marketing Process. Case study.
COURSE OUTCOMES:
On successful completion of this course, the student will be able to
CO1: Describe the role of biomedical engineers in entrepreneurship
CO2: Interpret the background for biomedical engineers in entrepreneurship
CO3: Acquire the skills and techniques required towards innovation
CO4: Categorize the resources and funding agencies and judge the right product based on market needs
CO5: Compile and quantify the opportunities and challenges
TOTAL :45 PERIODS
TEXT BOOKS
1. Jen-Shih Lee “Biomedical Engineering Entrepreneurship”, World Scientific Publishing, USA. 2010
2. Vasant Desai, ―The Dynamics of Entrepreneurial Development and Management‖, Himalaya Publishing House, 2010.
REFERENCES
1. Brant Cooper, Patrick Vlaskovits, “The Lean Entrepreneur”, Wiley, 2nd edition, New Jersy, 2016.
2. Nathan Furr, Jeff Dyer, “The Innovator’s Method: Bringing the Lean Start-up into Your Organization”, Harvard Business Press, Boston, 2014.
3. Donald F.Kuratko and Richard M. Hodgetts, “Entrepreneurship”, South-Western.
4. Gupta S.L., Arun Mittal, “Entrepreneurship Development”, International Book House, 2012.
5. Prasanna Chandra, “Projects- Planning, Analysis, Financing, Implementation and review‖, TATA McGraw Hill, 2012.
6. Sudha G. S., “Management and Entrepreneurship Development”, Indus Valley Publication, 2009.