TITLE

WHEN SCIENCE MEETS ENTREPRENEURSHIP: ENSURING BIOBUSINESS GRADUATE STUDENTS UNDERSTAND THE BUSINESS OF BIOTECHNOLOGY

AUTHOR(S)
Gunn, Moira A.
PUB. DATE
June 2016
SOURCE
Journal of Entrepreneurship Education;2016, Vol. 19 Issue 2, p53
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Bioentrepreneurship is considered by many to be more than simply entrepreneurship principles applied to the business value propositions of the biotechnology industry. This stems from the inescapable integration of science and business. In biopharmaceuticals, its most challenging sector, the entrepreneurial effort needed to reach product approval is scientifically complex, takes some ten-to-fifteen years to attain U.S. government registration, and requires over $2 billion of successive capitalization over that period, while only 12% of the drug candidates entering human clinical trials complete all phases and are ultimately approved. This entrepreneurial effort is framed by the BIEM 2.0 (Bioenterprise Innovation Expertise Model) model, which describes the essential expertise needed throughout the innovation phase, i.e., from scientific breakthrough to market-ready product. This paper describes the global biotechnology industry and its entrepreneurial nature, the application of general entrepreneurship education principles to bioentrepreneurship education, and an overview of global bioentrepreneurship education programs. It further describes the goal of the University of San Francisco's Business of Biotechnology (BoB) program to enable students to easily apply the BIEM 2.0 model to every bioenterprise-related situation. The resulting automaticity-building "engaged analysis" pedagogy is presented, along with its cognitive psychology underpinnings, how traditional mainstream science-business media may be utilized to implement these assignments, the peer-reviewed literature basis for certifying these information sources for entrepreneurship education purposes, and how the "engaged analysis" pedagogy may be applied to general entrepreneurship education. Future research possibilities are also discussed.
ACCESSION #
119814841

 

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