Commercializing Science and Technology

Abstract

This course is designed for ETH students from all departments and levels to develop their knowledge and competencies on how to turn science and technology into new business opportunities. A key element of this course is the practical application of knowledge to a field project in which students develop a business proposal for an early-stage technology.

Objective

Primary Course Goals: 1 - To understand key trajectories of how science-based and technological inventions can be transformed into new business opportunities 2 - To understand and compare different commercialization options and appropriate strategies to seize such options 3 - To understand key resourcing challenges for technology-based ventures and how to address them 4 - To conceptualize and develop convincing narratives for presenting a compelling business case for a technology-based venture 5 - To foster an entrepreneurial spirit The knowledge you will acquire in this course will be useful for different career options: either founding or becoming an employee in a technology start-up, but also if you aim for a career in managing technology in an established firm or within a public or private research lab.

Content

This course combines theoretical knowledge with practice. Students will form small teams (3 - 4 members) and work on a technology (preferably from the ETH context) to build a roadmap of how to turn this technology into a value-creating business. Each course meeting will also include a more theory-focused discussion to help students making important decisions as they develop their business case. In so doing, the course puts a major emphasis on key strategic decisions in high-tech start-ups: First, one of the most important tasks for technology entrepreneurs is to understand the range of potential applications and the conditions of value creation in the respective industry setting and making early decisions about the core commercial strategy for their technology. This forms the starting point for your field project. The class discussion will prepare you for evaluating the potential of your technology and making a selection of which path to follow. Second, successful technology commercialization then also requires understanding Intellectual Property Rights, different options for designing technology business models and how to structure market entry strategies such that they allow moving along the technology learning curve and facilitating the adoption of innovative products. In your field project, you will make use of your newly acquired knowledge to develop a market strategy and a potential business model for the successful commercialization of your technology. Finally, acquiring and mobilizing resources (financial as well as human) is a key task and not easy due to the inherent uncertainty around the value potential of your idea. During the course, we will discuss important aspects of resource mobilization, which will help you develop an appropriate resourcing strategy geared to move your field project forward in the future. You will present your final business case in front of a small jury, consisting mainly of ETH stakeholders. Key topics we will cover in this course: 1 - Origins of entrepreneurial opportunities and sources of value: problem-solution spaces 2 - Entrepreneurial thinking and business logic: competitive advantage, strategic positioning and value capture 3 - Entrepreneurial business case development: crafting compelling strategies for opportunity exploitation and mobilizing resources ETHZ offers a lot of support infrastructure for technology start-ups, so the most promising projects from this course will find ample opportunities to continue further development, either through additional courses, through direct coaching and mentoring from entrepreneurs in residence, or acceleration programs, like the ETH Pioneer Fellowship program.

Resources