Course Title: Biotechnology and Business

Part A: Course Overview

Course Title: Biotechnology and Business

Credit Points: 12.00

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT:  https://policies.rmit.edu.au/document/view.php?id=209. 

Please read the Student website for additional requirements of in-person attendance:  https://www.rmit.edu.au/covid/coming-to-campus 

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM2270

City Campus

Postgraduate

135H Applied Sciences

Face-to-Face

 Sem 2 2006,
Sem 2 2008,
Sem 2 2010

BUSM4724

Bundoora Campus

Postgraduate

171H School of Science

Face-to-Face

 Sem 2 2019,
Sem 2 2020,
Sem 2 2021

Course Coordinator: Dr Christopher Pillidge

Course Coordinator Phone: +61 3 9925 6001

Course Coordinator Email: christopher.pillidge@rmit.edu.au

Course Coordinator Location: 223.06.06

Course Coordinator Availability: Please email to arrange a meeting time


Pre-requisite Courses and Assumed Knowledge and Capabilities

This course has no enforced prerequisite courses.

Biotechnology and Business is a foundation course that helps you develop an entrepreneurial mindset and acquire professional skills to evaluate new biotechnology business opportunities and how to navigate, collaborate and solve real-world client challenges.


Course Description

This course seeks to develop an understanding of the fundamentals of innovation and design thinking including business strategies and tools needed to enhance performance and competitiveness in the biotechnology industry. These strategies and tools are aligned with the new digital and technology-driven business reality where the need to continuously innovate as demanded by customers.

You will learn how to create, evaluate and extend compelling biotechnology value propositions and design a business model that will allow for entry into the marketplace. Each participant will learn how to apply design thinking methodology to research, develop and implement their biotechnology idea. They will also understand how theory, tools and industry information can be applied to align with internal and external stakeholders’ requirements for market performance.


Objectives/Learning Outcomes/Capability Development

The learning outcomes will allow students to understand how to fit all the business and product pieces together to execute a pathway for a successful biotechnology business. Each student will have the knowledge and tools to understand how to:

  • have an entrepreneurial mindset;
  • design and undertake market research;
  • evaluate novel ideas;
  • bring a new biotech idea to market;
  • apply innovation techniques to extend or add a new product to an existing organisation; and
  • present and sell your idea to an audience of venture capitalists or funders


This course contributes to the following Program Learning Outcomes at AQF Level 9 in MC111 Master of Biotechnology

PLO 2. Advanced skills to critically analyse and solve problems in biotechnology

PLO 3. Application of knowledge and skills

PLO 4. Communication

PLO 5. Display personal and professional responsibility


On successful completion of this course, you should be able to:

CLO-1 Examine and justify biotechnology product innovation management and the principles of the Stage-Gate process for innovation management

CLO-2 Critically analyse emerging consumer trends and the changing nature of the biotechnology industry

CLO-3 Differentiate the essentials of biotechnology advertising and marketing and principles of financial management

CLO-4 Demonstrate strategic leadership and work in teams to achieve identified goals

CLO-5 Effectively communicate with the industry stakeholders to attain valuable outcomes


Overview of Learning Activities

The learning activities included in this course are:

  • Recorded lectures presenting themes, contents and ideas
  • Supervised and unsupervised group work to brainstorm, analyse, discuss and document the most recent advances and trends
  • Tutorials on selected topics
  • Case studies
  • Written group and/or individual reports requiring an understanding and integration of the content
  • Private study where you will review the information presented in lectures and tutorials


Overview of Learning Resources

You will be referred to relevant texts, library resources, databases, patents and reliable, authoritative internet sites.

You will be provided with materials required for case studies and tutorials.


Overview of Assessment

Note: This course has no hurdle requirements

Assessments:

Assessment Task 1: Market research, problem exploration and definition (individual assignment)
Weighting: 20%
This assessment task supports CLOs 1 and 2

Assessment Task 2: Business case (group assignment)
Weighting: 30% (25% report & 5% personal reflections)
This assessment task supports CLOs 1 to 4

Assessment Task 3: Business pitch (group activity)
Weighting: 30%
This assessment task supports CLOs 1 to 5

Assessment Task 4: In-depth case study (individual assignment)
Weighting: 20%
This assessment task supports CLOs 1 to 4