Innovation and the Commercialisation of Research

MCEL60092 Innovation and the Commercialisation of Research 15 Semester 2 Postgraduate Taught Level 7 Lynn Sheppard Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 ' European Credit Transfer & Accumulation System Rating : 7.5 The unit examines the applied aspects of the commercialisation of ideas derived from academic research. The unit will review the process of knowledge transfer from the perspective of the innovation process through to its commercialisation.The unit is project-based and students will be able to develop ideas based on their own area of doctoral research. Students will evaluate first-hand the business opportunity and develop a commercial business case based on the idea. The unit examines the applied aspects of the commercialisation of ideas derived from academic research. The unit will review the process of knowledge transfer from the perspective of the innovation process through to its commercialisation.The unit is project-based and students will be able to develop ideas based on their own area of doctoral research. Students will evaluate first-hand the business opportunity and develop a commercial business case based on the idea. The unit aims to:<ul><li>Provide students with the ability to transfer knowledge from the research phase to the market</li><li>Develop knowledge and skills in the field of commercialisation, innovation and entrepreneurship</li><li>Enrich career prospects in both academia and industry</li></ul>More specifically, the objectives of this unit are to provide the knowledge and skills necessary to:<ul><li>Develop business skills and processes required by industry at both the corporate and SME Level</li><li>Evaluate potential opportunities for the commercialisation of ideas</li><li>Evaluate markets and develop commercial strategies for their exploitation</li><li>Develop a robust commercial business case proposal based upon an aspect of doctoral research</li></ul> Knowledge and understanding A1. Identify what makes a viable commercial research opportunity/idea A2. Recognise market opportunities and barriers for new product/service development A3. Identify the role of Intellectual Property (IP) in the commercialisation processIntellectual skills B1. Evaluate the main channels and stages for the commercialisation of research B2. Review the relationship between innovation and entrepreneurship B3.Critically evaluate the role business strategy and its models play in the commercialisation processPractical skills C1. Develop a business idea C2. Access and mine secondary market research databases C3. Research intellectual property rights through the access of specific databases C4. Develop a robust commercial business modelTransferable skills and personal qualities D1. Research, analyse, evaluate and utilise information from a range of reliable sources D2. Communicate in an effective manner D3. Develop commercial awareness Research The unit gives students an understanding of the research commercialisation process and the value of innovation for all organisations. Employers now expect research students to be able to apply their knowledge to a range of commercial situations and to have an appreciation of the importance of managing the innovation process. Under the guidance of the unit lead, students will attend the taught sessions (lectures and tutorials) and develop a proposal for the commercial application of an aspect of their doctoral research or their research area; supported by the tutorial sessions. The support of their doctoral research supervisor will also be important as students begin to explore the potential commercial opportunities that their research opens up.Students will be required to work outside of the timetabled lecture slots.Specific topics covered include:<ul><li>Commercial opportunities</li><li>Customer needs</li><li>Market research</li><li>Patents and IP</li><li>Process/impact of commercialisation of research</li></ul> Lectures - there will be a series of lectures and guest presentations with case studies and in-class activities for students to work on both individually and in small groups.Tutorials - there will be a series of group and individual tutorials to support the identification of the commercial opportunity.Blackboard - will include lecture notes, case studies, videos, resource web links and discussion boards. 0 Other 10% 3 Report 50% 7 Oral assessment/presentation 40% On-line group work participation <ul><li>Attending lecture sessions, joining discussions about case studies and doing short work tasks set within the lecture session.</li><li>Your lecturer will reply to brief individual questions at the end of each lecture session.</li><li>Your lecturer will provide brief replies to e-mails.</li><li>Your lecturer may feedback messages to the whole class via Blackboard if the point that you have raised could be of benefit to the whole class.</li></ul> Doctoral programmes only Y Main Texts:Byers, Dorf and Nelson, Technology Ventures, McGraw Hill, 2011Evers, Cunningham, Hoholm, Technology Entrepreneurship, Palgrave Macmillan, 2014Lowe and Marriott, Enterprise, Entrepreneurship and Innovation, Butterworth-Heinemann, 2006Tidd and Bessant, Innovation and Entrepreneurship John Wiley &Sons, 2008Rae, Entrepreneurship: From Opportunity to Action, 2007Bragg and Bragg, Developing New Business Ideas, FT Prentice Hall, 2005 (On-line)Further Reading:Osterwalder, A. et al, Business Model Generation, Wiley, 2010Smith, Exploring Innovation, Second Edition, London: McGrawHill, 2010Trott, Innovation Management and New Product Development, FT Prentice Hall 2008Stamm, Managing Innovation, Design and Creativity, Wiley, 2003Burns, Entrepreneurship and Small Business: start-up, growth and maturity, Palgrave Macmillan, 2011Perkmann, M and Walsh, K. (2007) University-industry relationships and open innovation: towards a research agenda. International Journal of Management Reviews 9(4) 259-280Sarin, S and Mohr, J (2008) An introduction to the special issue on marketing of high-technology products, services and innovations, Innovation Marketing Management. 37(6) 626-628Students will be encouraged and expected to use on-line resources, the library facilities (general and business sections) as well as identifying and utilising primary Lectures 12 Tutorials 8 0 130