A major goal of the Columbia Biomedical Technology Accelerator is to educate researchers, clinicians, and students about the many aspects involved in commercializing biomedical innovation.
LAB-to-market: Accelerating Biomedical innovation
aka "BioMedX Boot Camp" (BMEN E6007)
This course is is a 3-credit, semester-long course designed to provide specialized frameworks and essential tools to Columbia Biomedical Technology Accelerator applicant project teams and others interested in successful translation of biomedical innovations from lab to market. By the end of the course, participants will be able to…
- …succinctly describe the unmet clinical need, stakeholder requirements, and business opportunities and risks (market, IP, regulatory, reimbursement, etc.) for their envisioned technology.
- …package and pitch the idea to best position it for partnership and follow-on investment.
Each session is made up of a lecture and team presentations, and features practical exercises and group feedback supplemented with content on topics applicable to accelerating commercialization success. Project teams work systematically through the iteration and refinements necessary to create a plan for market readiness, while being supported by a peer learning environment and a coaching network of functional and domain experts. At the end of the course, teams will pitch their technology to investors and the Columbia Biomedical Technology Accelerator oversight committee for potential funding.
To help further accelerate the path towards market success, project teams will be paired with seasoned industry executives and serial entrepreneurs who can provide advice, feedback and guidance on the issues teams will face as they seek to develop a path to market and commercialize their technologies.
…partner with innovative and experienced technical teams in the development of a commercialization plan for their cutting-edge technologies.
…play an active role in identifying the clinical need, stakeholder requirements, and business case in order to increase commercial potential.
…gain exposure to the technical, economic, social and public policy issues involved in the commercialization of medical technologies.
…receive mentorship and guidance from seasoned business advisors, guest lecturers and instructors.
Note that since all of the projects in this class relate to the Columbia Biomedical Technology Accelerator and arise primarily from Columbia intellectual property, any inventions that emerge from this class will be treated as Columbia IP per the CTV FAQ for Students. In the event that a student in this class ends up being a named inventor on any patents that may emerge, they will be treated as inventors under the Columbia patent policy.
ACCELERATING BIOMEDICAL INNOVATION
is designed to provide specialized frameworks and essential tools for successful translation of biomedical innovations from lab to market. By the end of the course, participants should be able to answer the following with regard to the envisioned technology:
What is the unmet need?
Is there a true and compelling Unmet Need? What are the Current Solutions and Product Gaps? Who are the Stakeholders? What do stakeholders want/need? How does the envisioned solution satisfy stakeholder needs?
Is there a business opportunity?
What is the Value Proposition? What is the Competitive Market Landscape? What are IP Strategy, Regulatory Roadmap, and Reimbursement Considerations? How can you prove that your product is viable and that there is an opportunity before significant resources are put into developing and perfecting the technology? How will risk be substantially removed in order to leave no doubt that the product will be an improvement over the status quo?
How can the opportunity be packaged and pitched?
How can you best position the technology for partnership and follow-on investment? How will you hone your pitch and present the data package?
Zenios, Makower, and Yock. Biodesign: The Process of Innovating New Medical Technologies, 2nd Edition. Cambridge University Press, 2015.
Columbia Biomedical Technology Accelerator applicant teams must be composed of at least one clinical representative and one engineering representative. If awarded, each representative must have an active and significant role in the execution of the project (i.e. no substitutes, no pinch hitters). Examples of suitable team members include the clinical PI, the engineering PI, their post-docs, graduate students, fellows, residents, CTV Technology Licensing Officers, as well as Columbia Executives/Entrepreneurs in residence or other external advisors with significant industry, entrepreneurial or investor experience.
Teams should aim to send at least one representative to each Boot Camp session. However, we strongly recommend that as many team members as possible participate.
If any student team members would like to receive academic credit for participation in the Boot Camp, they can register for the course BMEN E6007 using SSOL.
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