The Scientific and Medical Entrepreneurship certificate is a 4 course, 12 credit graduate certificate program that provides students with an opportunity to learn the process of creating valuable intellectual property (IP) and moving it into commercial application.
The 4 courses are intended to be taken sequentially, as each course leads the student to an important stage gate in the overall process. This process begins with the creation of IP, continues to its licensing and the formation of a venture, through the growth of the venture, and culminates with the monetization of that venture. While the coursework focuses on IP likely to be created at UMB, we welcome students who are working on IP no matter what the source. Software, engineered products, and consumer products are within the scope of the coursework along with the technologies more normally associated with UMB. Course content will be applicable to IP created at universities, Federal Labs, non-profit research institutes, and other similar institutions.
Educational Objectives
At the completion of this program students will be able to do the following:
- Document where IP is created within a research institution and present how newly created IP is owned, protected, and managed.
- Derive the business process associated with licensing IP to the private sector, describe the importance of technology transfer to the research institution and defend that practice as consistent with the institution’s mission.
- Produce a characterization of what potential licensee’s view as valuable IP
- Discover the essential elements of startup venture that is based upon research institution IP and differentiate among the various forms of stage-appropriate forms of funding.
- Understand the regulatory landscape as it relates to a startup venture commercializing research institution IP.(CMS, FDA, ISO, CE, etc.).
- Construct a model for the maturing startup venture that leads to the point of monetization, including stage-appropriate forms of funding, team management and growth planning.
- Differentiate among different monetization pathways, understanding the prerequisites to exit and different forms of exit.
- Present strategic partner and acquiror motivations, deal structure, and post-deal obligations of all parties.