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PIBS 550: Biomedical Innovation & Entrepreneurship I – 2 credit hours

Biomedical Innovation & Entrepreneurship I (PIBS 550) is a credit-bearing course intended for graduate students* from science and engineering majors who are seeking insight into the biomedical industry and exposure to the fundamentals of life science entrepreneurship.

*Postdocs and undergraduates may take PIBS 550 with prior approval of the instructor (contact the instructor directly davidols@umich.edu for authorization)

View the syllabus for PIBS 550 and 750

Objectives:

• Identify and describe critical life science technology commercialization concepts, such as value proposition, intellectual property, and FDA regulation
• Demonstrate familiarity with innovation and entrepreneurship skills, including customer discovery, market evaluation, development planning, and communicating innovation

At the conclusion of the course, students will have a clear understanding of commercialization pathways for research-based products that have the potential to impact human health.

This course is uniquely designed for students looking for:

• A career in the biomedical industry
• Insight into life science entrepreneurship
• A roadmap for technology commercialization or product development

Course Materials:

The course lectures will be made available through a learning management system and website.

Student Assessment:

PIBS550 is a letter-graded course.  Students will complete a quiz following each lecture to demonstrate attendance and understanding.

This course is a credit-bearing expansion of a program developed by the Fast Forward Medical Institute for trainees in the UM Medical School to explore life science innovations—from the research bench to the patient bedside.

PIBS 750: Biomedical Innovation & Entrepreneurship II – 3 credit hours

Biomedical Innovation & Entrepreneurship II (PIBS 750) is a credit bearing, experiential learning course that applies the concepts taught during Section 1 (PIBS550) to a group project. Enrolled students* will work in small project teams to conceive and/or advance an innovation while building the skills and network of contacts to translate a nascent idea into a hardened, commercially viable product concept. The innovations developed in this course can be real or hypothetical, sourced from students or from outside of class (pending approval from the inventors and the course instructor).

*Postdocs and undergraduates may take PIBS 750 with prior approval of the instructor (contact the instructor directly davidols@umich.edu for authorization)

View the syllabus for PIBS 550 and 750

The FFMI fullPACE program is uniquely designed for students seeking:

• A career in biomedical industry
• Insight into life science entrepreneurship
• An opportunity to create and explore an innovation
• Development of an existing innovation or idea

The objectives of PIBS 750 are to:

• Provide a structured approach to teaching biomedical innovation, entrepreneurship, and the commercialization
• Introduce and exercise skills for critical evaluation of the commercial potential of innovations in the life sciences and medicine
• Offer hands-on experience developing a compelling case for an innovation, including a presentation (pitch) appropriate for seeking funding and/or partnership

Course Materials:

Course materials, including lectures, handouts, and assignments will be made available through a learning management system and website. Students will be given access all materials and will be able interact with the instructor and classmates.

Student Assessment:

30% – Lecture Quizzes – Students will complete a brief quiz following each lecture (PIBS550) to demonstrate attendance and understanding.

40% – Attendance & Participation – Attendance and participation during the project coaching session is critical to the success of the individual student and group project; therefore, it is mandatory and students will be asked to sign in. Students will be asked to work in a small group to submit milestone assignments for their final presentation.

30% – Final Group Presentation – Final presentations will be given during a showcase event as part of the final Section 1 class. The project coaching sessions and group presentation assignments will be used as a guide to develop a successful presentation.

This course is a credit bearing expansion of a program developed by the Fast Forward Medical Institute for trainees in the UM Medical School to explore life science innovations—from the research bench to the patient bedside.