Innovations in Healthcare Technology 2 - Startup Development from Idea to Implementation

Data

Official data in SubjectManager for the following academic year: 2023-2024

Topic

The aim of the course is to provide practical knowledge, skills and abilities in the commercialisation of ideas and research initiatives with business potential by creating an interdisciplinary research-learning platform. In the course of the programme, students will learn in a practice-oriented, multidisciplinary team environment about business model building, market validation, marketisation, building an organisation around the proposed product or service, developing a marketing communication plan and activation, testing the market acceptance of the demo product or service in real pilot actions, developing financing solutions and validating them with potential financiers or possibly developing and managing a crowdfunding campaign. By working with clients from different business sectors and at different stages of their life cycle, participants will learn how to bring innovative products and technologies to market and commercialise them.   
The course will introduce students to the basic concepts of product and service development, basic market research procedures, and business model development around ideas. Students will receive practice-oriented training by examining real ideas, including working on their own ideas.
Key concepts and procedures to be learned
- phases of building a business model,
- environmental analysis aspects, tools,
- process of validating and adapting a business idea,
- Process of creating and explaining the Business Model Canvas,
- Developing and implementing a marketing plan, communication,
- creation of promotional materials, pitch video,
- financing, crowdfunding,
- community building
- intellectual property protection.
Moduls/Chapters:
INTRODUCTION. Presentation of the programme, objectives, deadlines, timetable.
IDEATION - Generating ideas, identifying and evaluating opportunities. Ideation workshop.
CLINICAL VALIDATION OF THE IDEA - Validation of the need/problem, which sector is affected (e.g. internal medicine, surgery, oncology, etc.), where in the spectrum of clinical care the solution/idea would help. What is the target group affected (patient, doctor, other care provider. What tools/methodologies/procedures are currently used to address the problem.
IDEA - VALUE PROPOSITION - MARKET - Presentation of the business model and value proposition canvas. Teamwork: what is the value proposition of your idea and who is the solution for? How prospective customers behave, what is the basis for their choice, what message is important for customers/prospective customers. How can they become loyal customers, what do we need to do to make them so in our project?
PRODUCT-MARKET FIT - MVP CREATION AND TESTING - What is important to the user? Why does the user download and stay in the service? In this topic, students will be introduced to the so-called MVP (Minimum Viable Product) concept and will get various ideas and inspirations for its creation, as well as an introduction to testing methodology. The first round of market testing, where feedback can be gathered, future development directions can be identified and the concept can be clarified.
PROFITABILITY - SCALABILITY - PRICING - Service design - How to develop the concept of your service? Who is on the sell and buy side? In what direction can the business expand and grow in the future? Formulate the cornerstones from which the business will generate money/revenue.
INTELLECTUAL PROPERTY ISSUES - Intellectual property issues that arise and how they are scaled, and suggested solutions/tools. Presentation of the IPR protection options available for each solution.
CUSTOMER ENGAGEMENT - MARKETING (SEO) - How to build a good marketing campaign? In particular, getting to know the different social media platforms and targeting your audience. In addition, students will learn about different marketing strategies.
CLINICAL VALIDATION OF THE PROPOSED IDEA / APPROVAL - The options, rules, costs and steps of the validation and approval process for the idea to be implemented.
FINANCIAL METHODOLOGIES - FINANCING - What are the components of a financial plan, how can we determine when our project will be profitable? What financing options are available for an early stage business?
PITCH TRAINING - STORYTELLING - How to communicate our project in a professional way to achieve what we want. Pitch effectively. Pre-pitch.
FINAL PITCH - Final presentation of the project within the iExpo event.

Lectures

• 1. Introduction - Balogh Virgínia
• 2. Ideation - Dr. Bedő Zsolt
• 3. Clinical validation of the idea - Dr. Liber Noémi

Practices

• 4. Idea - value proposition - market
• 5. Product-market fit - MVP creation and testing
• 6. Profitability - scalability - pricing
• 7. Intellectual property issues
• 8. Customer engagement - marketing (SEO)
• 9. Clinical validation of the proposed idea / approval
• 10. Financial methodologies - financing
• 11. Pitch training - storytelling
• 12. Final pitch

Seminars

Reading material

Obligatory literature

Osterwalder, Alexander – Pigneu, Yves (2012), „Üzleti modell építés”, Cser-kiadó
Michael Lewrick, Patrick Link and Larry Leifer: The Design Thinking Toolbox – A guide to mastering the most popular and valuable innovation methods, Wiley, 2020, ISBN 978-1-119-62919-1.
Michael Lewrick, Patrick Link and Larry Leifer: The Design Thinking Playbook – Mindful digital transformation of teams, products, services, businesses and ecosystems, Wiley, 2018, ISBN 978-1-119-46747-2.

Literature developed by the Department

Notes

Recommended literature

Jones (2010), „Interdisciplinary Approach, Advantages, Disadvantages, and the Future Benefits of Interdisciplinary Studies”, ESSAI Vol.7. Art. 26.
Orem, Binkert, Clancey (2011), „Appreciative Coaching: A Positive Process for Change”, Wiley and Sons.
Lessem and Schieffer (2011), „Integral Research and Innovation”, Gower Applied Business Research Publishing.
Bruce R. Barringer, Duane Ireland: Entrepreneurship, Global Edition, 5/E, ISBN-10: 1292095377, Pearson, 2016.
Arthur C. Brooks: Social Entrepreneurship: A Modern Approach to Social Value Creation, ISBN-10: 0132330768, Pearson, 2009.
Gerry George, Adam Bock: Inventing Entrepreneurs: Technology Innovators and their Entrepreneurial Journey, ISBN-10: 0131574701, Pearson, 2009.
Donald F. Kuratko, Jeffrey S. Hornsby, Michael G. Goldsby, Innovation Acceleration: Transforming Organizational Thinking, ISBN-10: 0136021484, Pearson, 2012.
Thomas H. Byers, Richard C. Dorf, Andrew J. Nelson, Technology Ventures From Idea to Enterprise, McGrawhill, 2010.
Drucker, The discipline of innovation, Harvard Business Review, 1998.
Videos:
50 Entrepreneurs share priceless advice
50 Founders Share Their Wisdom
Draw your future - Patti Dobrowolski – TEDxRainier
Myths Of Entrepreneurship_ Tim Folta at TEDxPurdueU
Creative thinking - how to get out of the box and generate ideas- Giovanni Corazza at TEDxRoma
5 ways to kill your dreams - Bel Pesce
Ernesto Sirolli – Want to help someone? Shut up and listen!
Stefan Mumaw – The shape of ideation. TEDxLawrence
John Maeda – How art, technology and design inform creative leaders. TEDxGlobal
Guy Kawasaki – The art of innovation, TEDxBerkeley
Simon Sinek – How great leaders inspire action
Charles Leadbeater – The era of open innovationTEDxGlobal

Conditions for acceptance of the semester

Maximum of 25 % absence allowed

Mid-term exams

Successful completion of the course requires continuous classroom activity, and at the end of the semester, students will present a project presentation to demonstrate the knowledge acquired during the course. Assessment will be based on class participation and activity, as well as the project presentation.
Business concept documentation - 40%
MVP, pilot action, lessons learned documentation - 40%
Final pitch - presentation, one-pager - 20%

Making up for missed classes

In agreement with the subject supervisor.

Exam topics/questions

The course ends with a mid-year mark, so there are no exam questions.

Examiners

Instructor / tutor of practices and seminars