Medical Technology Entrepreneurship summer term 2012

In winter term 2010/2011 we introduced the new lecture Medical Imaging Entrepreneurship. This lecture was very successful and one team even won with their business plan from the lecture in the Munich Business Plan Competition and the Science4Life Business Plan Competition. Inspired by this lecture, another participant founded the software company celonis.

Successful lectures followed in summer term 2011 and winter term 2011/2012 which were extended to 2 SWS to cover the area of medical imaging entrepreneurship in even more detail. Then concept proved to work out and we offer the lecture this summer the 4th time, the focus not only on imaging but on the whole medical technology market, hence the new title. This lecture is for everyone who is interested in being an entrepreneur or writing a business plan but also for everyone else who wants to understand the medical technology market.

Administrative Info Lecture by Dr. Michael Friebe Type: Lecture Module IN9038 Programs: Informatics (Bachelor, Master) Biomedical Computing (Master) Information Systems (Wirtschaftsinformatik) (Bachelor, Master) SWS: 2 ECTS: 4 Credits Course Language: English

Time, Location & Requirements Lecture: The lecture will be held in 4 afternoon blocks of 4,5 hours each (1.00 p.m. to 5.30 p.m.), the dates are: Block 1: April 20, 2012 Block 2: May 4, 2012 Block 3: June 1, 2012 Block 4: June 22, 2012 REMEMBER THAT WE WILL START AT 12:30! Location: MI 03.13.010 Requirements: The classes and assignments are in English Assignments are to be composed in English only

Announcements There will be 3 assignments to be done after which a jury of experts evaluates the students' performance There will be several talks by high-level personalities from industry, medicine and financing affiliated to medical technology Assignments There will be 3 assignments to be done after which a jury of experts evaluate the students' performance. The assignments will be done in teams of 3 people.

Photo of last year's course Participants of the course

Overview

Medical Technology, especially Imaging and Diagnostics (including image guided therapies), is a highly innovative life science segment, which differs significantly from other apparently related areas. The innovation is not limited to products but also includes services, and the cycle of innovation (apart from production and distribution) comprises a large variety of professions, e.g. physicians, engineers, physicists, administrators, and health insurance staff. Compared to other industrial branches these products and services are usually developed faster and cheaper; hence, they are quicker to market. That means rapid results -- be it success or failure. Most innovation is conceived and initially commissioned in close cooperation between users and engineers / scientists. It is a tough road from an initial idea or concept to a product or service however. For scientist used to working in a regulated environment it is a very difficult step to take their own idea or prototype to the next level -- make a product out of it, create a company, think in terms of usability and marketability, and convince others of their idea and conceptual proposals. This talk will give an insight into the challenges and excitements of being a medical technology entrepreneur. The goal is to introduce the gist of a new lecture, which shall teach students how to evaluate market potentials, how to analyze decision making and customer handling, and how to organize sales channels. The basics about being an entrepreneur – which qualifications are needed, which organization, management, finance, strategic issues are suitable in the medical technology market – are covered in the proposed lecture. An assignment will give students a hands-on experience how to provide a realistic and sellable business concept for their own ideas or for a medical technology challenge provided by the lecturer. Lecture Content Basics in life sciences and Medical Technology Qualifications of a medical technology entrepreneur Necessary criteria for a startup Basics of IP, marketing, sales, finance Basics of business plan creation How to finance the venture 3 team assignments: idea creation, description, and R&D, creation of a small business plan (8 pages) creation of a full business plan (20 pages)

Lecture Schedule

In addition to the lecture there will be talks by several experts from the domain of medical imaging.

Date	Conducted by	Topic	Material/Literature
----------		Readings	Readings
----------		Business Ideas	Business ideas
April 13, 2012		Reading Assignments	Reading Assignments
April 13, 2012		Business-Plan Projects	Business-Plan_Projects
April 20, 2012	Dr. Michael Friebe	Medical Technology Market, Being an Entrepreneur, Entrepreneurial Skills	Slides Block 1
	Robert Grüter	Brainlab
May 4, 2012	Dr. Michael Friebe	Presentation Assignment I, IP, Sales & Marketing	Slides Block 2
	Dr. Martin Groher - CEO microDimensions GmbH	The microDimensions story
June 1, 2012	Dr. Michael Friebe	Presentation Assignment II, Start-Up Financing, Company Grwoth	Slides Block 3
			Reviews Block 1, 2 & 3
June 22, 2012	Dr. Michael Friebe	Final Presentations, Summary and Conclusion
	Dr. Bernd May - Managing Director MBM	Highlights of a self-employed career
	Iris Götz - Account Manager iSoft	Leasing and Financing Overview in 20 minutes?
	Dr. Bernd Goergen - Director Hight Tech Gründerfonds	The High Tech Gründerfonds and Medical Technology Start-Ups
	Michael Hohenester	Entrepreneuer in Residence

Readings

• HARVARD BUSINESS REVIEW on ENTREPRENEURSHIP -- ISBN 978-0-87584-910-2
• Alexander Osterwalder -- Business Model Generation -- ISBN 978-0470876411