Exciting Careers in the Business of Science and Technology

Exciting Careers in the Business of Science & Technology

Master of Business information session

Exciting Careers in the Business of Science & Technology 1

Presented by Dr Peter O’Neill, Monash University – 19th May 2015

Outline

Monash - Science & Technology … + Business

Pathways from Science to Wealth

Integrating Innovation (?)

Master of Business (Science and Technology)

Entry Requirements Career outcomes Course Structure - Units Commercialisation Projects – Relationships

Some Alumni Experiences


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1984 Reproductive Medicine IVF 2015 Regenerative Medicine Stem Cell Therapies

Monash expertise - Medicine, Science, Technology and Business


Since the 1970’s Monash IVF has been a driving force in the development of assisted reproductive technologies (ART) in Australia and overseas.

Press Release 12 May 2015

Monash University’s (new) SensiLab

New technologies – humanoid robots … 3D printers

Most innovations … usually done in collaboration

People from Science, Technology … + Business

SensiLab lab will hothouse researchers from faculties of:

IT, engineering, art, design & architecture … + Monash Business School

Opened 13 May 2015.


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Pathways from Science to Wealth

The importance of the commercialisation of technology

How do you create wealth from science?

What does the commercialisation process involve

What happens if someone else starts selling the same thing or something better? Can you prevent this from happening?

How can you tell if it is lively to be worthwhile?


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Science vs Technology

Science

Focuses on understanding how things work and outcomes

Technology

Application of technology into a form suitable to confer for widespread benefit to people

Distribution of technology-based product/service to fulfil demand

Process involves many people, varied backgrounds, skills, needs and ambitions … People are complex … navigation of systems, obstacles and problems.

The ability to commercialise new knowledge is essential for competitive advantage in the private and public sector.


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Integrated Innovation Approach

It’s 2015 – Why is there a Black Box in the middle?


Scientific and

technological

problems

Technology push Market pull

Marketplace

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Why are we (scientists and technologists) responsible?


Scientific and

technological

problems

Technology push Market pull

Marketplace

clash

10


Who really fails?


Scientific and

technological

problemsTechnology

solution…

Push – no concern for

market forces

Marketplace

fails

Market Need…

Pull – primary

ideas

– R&D reactive

role

+ 10 years

+ $500M

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Could we be more Commercial as Scientists & Technologists?

HOW?


Scientific and

technological

problemsTechnology push

– No concern for

market forces

Marketplace

focus

Market Pull

– primary ideas

– R&D reactive

role

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Could this approach help?


Scientific and

technological

problemsTechnology push

– Science

– Technology

– IP Position

– IP Competition

MarketplaceMarket Pull

– Situation

– Problem

– Implication

– Need

FOCUS

– Potential

Market

Customer

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A field of growing importance involving…

Product development processes

Different technology transfer models including:

licensing & partnering spin-outs & start-ups (commercialisation!!)

Creative application of science and technology

Research-business interfaces

Selling products into national and international markets

Entrepreneurs creating and capturing revenues.


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About Master of Business (Science and Technology)

Aimed at professionals who want to drive innovation, growth and commercialisation in Australia and across the world

You will participate in projects specifically developed to teach you how to manage and commercialise cutting-edge medical, scientific and technology projects

Provides the skills and experience to commercialise scientific and technical knowledge

Designed for graduates with a background in science or technology

Taught by experts within the industry and guest lecturers including patent attorneys, lawyers, consultants, venture capitalists and industrialists

2 years full time or 4 years part time.


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Entry requirements

Completed an Australian bachelor’s degree or an equivalent qualification with a major in science or technology and a weighted average mark (WAM) of 60% or an equivalent GPA.

Applicants will be ranked and selected based on their entire academic record

Apply by 30 June, 2015 for entry in semester 2, 2015

Apply by 31 January 2016 for entry in semester 1, 2016.


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Career outcomes

Our graduates have pursued careers as:

Science/technology policy maker

Advisor on scientific/technology projects within the banking, finance or investment industry

Project consultant or manager

Research and development administrator

Scientific researcher

Entrepreneur - science/technology start-ups


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Units in the course

Four business foundation units:

Law and business decisions

Economics

Personal development – managing self and relationships

Managing innovation

Six specialisation mastery units:

New venture finance

Commercialisation project (12 points)

Pathways from science to wealth (12 points)

Accounting for business

Patenting for commercialisation

Foundations of marketing


A further 4 graduate-level units (24 points) offered by the Monash Business School. See website for the full list of units. www.business.monash.edu

http://www.business.monash.edu/












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Commercialisation Projects – Relationships

Long standing relationships with cutting-edge companies/institutes …All wanting to commercialise their IP


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Alumni experiences and questions

Patrick Ross (former Bosch Eng.VP - AP)

Chandini Doguparthy (2014)

Emily Chhen (2010)
