Medical Imaging Entrepreneurship winter term 2011/2012

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. This winter the class will be offered the third time. 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 imaging 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 Registration for the course can be done on TUMonline

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: Nov 04 2011 Block 2: Nov 11 2011 Block 3: Dec 09 2011 Block 4: Jan 13 2012 Location: MI 03.13.010 Please note that the lecturer will be available 1 hours prior to and 1 hour after the lecture in room MI 03.13.054. 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 evaluate the students' performance There will be several talks by high-level personalities from industry, medicine and financing affiliated to medical imaging 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.

Photos from the course Participants of the course

Overview

Medical 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 imaging 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 imaging 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 imaging challenge provided by the lecturer. Lecture Content Basics in life sciences and Medical Imaging Qualifications of a medical imaging 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) A poster of the teaching concept has been shown at this years SMIT conference.

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
		Roadmap	Roadmap
		Reading assignments	Reading assignments
		Readings	Readings
		Business ideas	Business ideas
		Lecture summary	Lecture summary
2011-11-04	Dr. Michael Friebe	Medical Imaging Market, Being an Entrepreneur, Entrepreneurial Skills	Slides
	Stefan Wiesner - Product Manager Surgiceye GmbH	Project Management - Implementation and Standards in Medical Imaging Start-up
2011-11-11	Dr. Michael Friebe	Presentation Assignment I, IP, Sales & Marketing	Chapter 5  Chapter 8
	Christian "Fred" Hieronimi - CEO humediq.com	What do I think is cool at a Start-Up?
	Dr. Joerg Traub - CEO Surgiceye GmbH	The first 3 years as an entrepreneur
2011-12-09	Dr. Michael Friebe	Presentation Assignment II, Start-Up Financing, Company Grwoth	Chapter 6 & 7  Chapter 9-11
2012-01-13 (12:30)	Dr. Michael Friebe	Final Presentations, Summary and Conclusion	Chapter 12-14
	Anne Burger - Medventurepartners	Investment Selection Criteria - What is key?
	Dr. Bernd Goergen - Director Hight Tech Gründerfonds	The High Tech Gründerfonds and Diagnostic Imaging Start-Ups

Readings

• Peter Drucker -- Innovation and Entrepreneurship -- ISBN 978-0-06-085113-2
• Harvard Business Review on Entrepreneurship -- ISBN 978-0875849102