Language: NOR | ENG
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2BIO052 Bioeconomy and Biobusiness I

Learning outcomes

Upon successful completion of the course, the student will have achieved the following learning outcomes: 

Knowledge:

The Student

  • has knowledge of patent protection of inventions and other Intellectual Property Rights (IPR)
  • has advanced knowledge of innovation, business models, sales- and marketing of biotech products and business financials

Skills:

The Student

  • has good skills in establishment of IPR including patents, copyright and trademarks
  • has thorough skills in the use of IPR in biotechnology and how to make use of it in business
  • can classify inventions and innovations
  • can carry out and give good suggestion to appropriate business models and sales- and marketing strategies, and to prepare a sales- and marketing plan
  • can give advanced analyzed annual reports for “simple” companies, and to prepare budgets for projects and sales forecasts

General competence:

The Student

  • can analyze and prioritize business opportunities with respect to profitability and choice of customer- and market segments
  • can evaluate when and how to protect intellectual property in bioeconomy/biotech business

Course content

Intellectual Property:

How to protect such property and how the IPR law is working in Europe and US. The different strategies for biotech companies to protect its IPR and ensure its “freedom to operate” in business. In addition, licensing of IPR.

Innovation:

The different classes of innovation (incremental, radical, disruptive, open and closed innovation). Creativity and idea generation. 10 types of innovation (product, service, business models etc.), methods for developing ideas into innovations (e.g. Design Thinking and biomimicry). Theories on why innovations fail in the market and how to prevent it. 

Accounting:

Double-entry book-keeping, preparing and analyzing financial reports (income statements, balance sheets and cash-flow statements), management accounting (budgeting and forecasting).

Business models:

Different business models relevant to biotechnology and bioeconomy companies. Osterwalder business model canvas and value creation.

Commercialization:

Market segmentation and calculation of market size, analyzing the market and opportunities (SWOT analysis), selecting the beach-head markets, technology adoption, product-, sales- and marketing strategies including the 4 P’s marketing mix (product, place, price and promotion), sales- and distribution channels, the importance of branding and launching a product to global markets.

 

Teaching and working methods

The course is delivered as weekly lectures combined with case studies and visits to relevant companies and institutions. There will also be guest lectures given by founders and business leaders in companies in the region. Students are expected to participate in class discussions.

Coursework requirements

  • 2-3 individual assignments during the course
  • a minimum of 80% presence in scheduled classes


Examination

  • individual oral examination in themes from the curriculum and assignments. The examination consists in short and concise student presentations on themes selected at random from a list, and questions related to this and the assignments returns. 

The exam will be evaluated by letter grade, A-F, where E is the lowest passing grade.