Course Overview:
This course, the second of a two course practicum sequence, focuses on technology commercialization, business planning, initial incubation and, hopefully launch, of an early-stage business or new product line, by student project teams. Students will work hands-on with a new venture or new product line to explore, identify and analyze the path “from Idea to Market” for technology and research projects. They will evaluate selected technology and research projects for commercial applications, explore different options available to productize & introduce to market, and, where appropriate, complete a new venture business plan, and potentially launch or participate in launching a new business.
Course Objectives:
The primary objective of this course is for students to significantly assist a new venture (or new product line) to move forward in the commercialization process. Success will be measured differently based on the product, stage of venture and type of company, however examples of significantly assisting a new venture to move forward include:
- Assisting the venture to secure next stage funding,
- Assisting the venture to move to the next stage of development (e.g., from prototype to clinical trials),
- Assisting the venture to secure a strategic partner,
- Identifying specific market segments and developing a market entry strategy,
- Developing the venture’s business plan (or revising an old plan in a way that attracts investor attention),
- Actively participating in the launch of a new product line.
- Each placement should provide students with an opportunity to apply prior learning in the areas of market research, market strategy, finance, product development and related fields.