(Department)  Biomedical Engineering         (Division)      Bioelectric
 
 (Level and Major)  BSc
 

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Course Title                 Management and Entrepreneurship for Biomedical Engineering
 
Number of Credits       3             Prerequisite Having successfully passed 70 credits of the undergrad program
 
 

Course Description:
This course prepares the students for their professional career in biomedical engineering, particularly as entrepreneurs.
 
Course Goals and Objectives:
The objective of the course is to familiarize the students with the basics of transforming their ideas into businesses.
 
Course Topics:

• Brief history of management
• Overview of revenue, cost, profit
• Time value of money
• Return on Investment
• Overview of financial statements
• Financing
  • Angle investors, venture capitals, Initial public offering, crowd funding, private equities
• Commerce
  • Incoterms, Letter of credit
• Planning
• Strategic management
  • External factors
    • Market and competition
  • Internal factors
    • Management, operations, product
  • Cooperation between companies
    • Mergers and acquisitions, joint ventures, contract manufacturing
• Technology management
• Intellectual property
• Business plan
• Regulatory bodies related to biomedical engineering
  • Licenses and permits 
• Case studies
  • Successful entrepreneurs in biomedical engineering

 
The course aims to:
The learning outcomes of the course are as follows:
1) The ability to perform a back-of-the-envelope calculation of a return on investment
2) The ability to define a simple business strategy based on a case study and propose actionable recommendations
3) The ability to draft a basic business plan for a novel idea
 
Reading Resources:

1. Gapenski, L.C. and Association of University Programs in Health Administration, 2009. Fundamentals of healthcare finance. Health Administration Press.
2. David, F.R. and David, F.R., 2013. Strategic management: Concepts and cases: A competitive advantage approach. Pearson.

 
 
Evaluation
Participants’ progress is monitored and evaluated throughout the course by exercises, as well as midterm and final exams.