Innovation and Biomedical Engineering: Understanding New Venture Creation module (BE52003)
Study the theory and practice of entrepreneurship in a biomedical engineering context. Develop the skills to evaluate, plan, and pitch a viable new venture in the biomedical sector
The ability to think and act entrepreneurially is increasingly valuable in biomedical engineering. This module builds those capabilities in a practical, applied way.
You'll explore the core concepts of entrepreneurship and intrapreneurship, linking theory to practice through lectures, in-class activities, and workshops. Topics include business start-up, decision-making, creativity, negotiation, networking, IP, financial modelling, and the digital entrepreneur.
The biomedical sector is the constant focus. You'll study how biomedical businesses are structured, how to assess market viability, and how to develop and position a concept within a given sector. Sustainability, ethics, and corporate social responsibility are also addressed.
Practical activities let you apply what you've learned: developing a wireframe or basic design for a product or service, producing a viability report, and presenting your concept to an audience.
What you will learn
In this module, you will:
- understand the core components of entrepreneurship and intrapreneurship in the biomedical engineering sector
- explore business start-up in a theoretical setting and develop decision-making, creative, and entrepreneurial skills
- understand the key management functions, IP considerations, and financial modelling involved in developing a biomedical business idea
- understand sustainability, ethics, and social corporate responsibility in a 21st-century context
By the end of this module, you will be able to:
- apply entrepreneurial concepts in a practical setting and demonstrate experience of the entrepreneur's world
- understand the components of entrepreneurial success and failure
- explore contemporary issues, challenges, and opportunities for entrepreneurs and intrapreneurs
- critically assess markets, customers, and industry to evaluate the feasibility and sustainability of a business idea
- develop an understanding of IP, financial modelling, and business costs
- produce a product or service concept including a wireframe or basic design
- demonstrate entrepreneurial thinking, problem-solving, and critical thinking
Assignments / assessments
- Viability report (40%)
- Presentation (20%)
- Innovation proposal coursework (40%)
This module does not have a final exam.
Teaching methods / timetable
- Lectures
- In-class activities
- Workshops
Courses
This module is available on the following courses: