Issues Specific to Life Sciences Entrepreneurship Education and Instructional Pedagogy

1. Issues Specific to Life Sciences Entrepreneurship Education and Instructional Pedagogy Michael W. Fountain, PhD, MBA Director, Center for Entrepreneurship John and Beverley Grant Chair in Entrepreneurship, College of Business Administration Professor, Industrial & Management Systems Engineering, College of Engineering Professor, Psychiatry and Behavioral Medicine, College of Medicine The Center for Entrepreneurship at the University of South Florida NCGE York, United Kingdom—September 2006

3. Entrepreneurship • Definition? • Often difficult to specifically define…. Usually identified with something to do with: Opportunity Risk assessment and management Resource mobilization Growth Value creation Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

4. Entrepreneurship • University of South Florida Definition of Entrepreneurship: “Value creation through effective opportunity recognition, opportunity assessment and opportunity capitalization” Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

5. USF Philosophy for Entrepreneurship Education • Teach and Emulate Core Principles and Values • Eliminate “Silo Effects”, Promote an Entrepreneurial Campus-Wide Culture of Innovation • Utilize Authentic Educational Content with Professional Mentoring • Encourage Experiential Learning through “Live-Case” and “Live Fire” Student Team-Projects • Require Interdisciplinary Team Learning, Leadership and Management Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

6. Interdisciplinary Nature of Life Sciences Entrepreneurship • Disciplines Represented • Business • Engineering • Law • Medical Fields of Study • Sciences and Agriculture Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

7. USF Faculty Participation in Entrepreneurship Education Programs • College of Business Administration 3 • College of Engineering 8 • College of Health Sciences 4 • Center for Entrepreneurship 4 Total 19 Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

8. Nature and Type of Traditional Life Science Educational Programs • Undergraduate • Graduate • Professional • Post Graduate Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

9. Length of Traditional Educational Programs • 1-2 Years • 2-3 Years • 3-5 Years • Over 5 Years Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

10. Structure of Traditional Educational Programs • Loosely Structured • Moderately Structured • Highly Structured Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

11. Understanding Technology Entrepreneurship FrameworksFor Life Sciences • Discovery • Proof-of-Principle Innovation Translation • Licensure • Strategic Partnership • Joint Venture • New Venture Formation Commercialization • Prototype • Scalability Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

12. Fundamental Core Principles of USF Life Sciences Entrepreneurship • Interdisciplinary • Team-Based • Project-Focused • Value Creation • Technology Development & Commercialization • New Venture Creation and Job Creation Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

13. USF Life Sciences Entrepreneurship Education • Teach Entrepreneurial Skills and Behavior • Opportunity Recognition, Assessment & Capitalization • Dealing with Uncertainty, Ambiguity & Complexity • Risk Recognition and Management • Balanced Risk Taking • Recovery from Adversity and Failure • Leadership • Team Building & Team Management • Commitment • Value of Hard-Work Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

14. USF Life Sciences Pedagogy:Educational Principles • Collaborative Learning Mechanisms • Experiential Learning Environment • “Situated Learning” • Apprenticeship • “Community of Practice” • “Professional’s/Practitioner’s Art” • Education through Training Leads to Development of Enduring Life Skills Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

15. USF Life SciencesEntrepreneurship Pedagogy • Based Upon Constructivist-Learning Theory • Consistent Base of Information • Concerned with Prior Knowledge of Student-Learners • Structured to be Understood and Modified by Student Teams • Designed to Facilitate Exploration, and Elaboration by Both Student-Learners and Student Teams Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

16. USF Life Sciences Educational Program • Implemented with Collaborative Learning Framework’s Five Critical Elements: • Strengthens Positive Interdependence • Promotes Interaction Among Team Members • Requires Individual Accountability of Team Members for: • Active Engagement in Group Activities • Completion of “Fair Share” of Teams’ Work • Assisting Other Team Members in Learning Assessment and Demonstration of Competence • Encourages Group Self-Evaluation • Develops Leadership and Social Teamwork Skills Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

17. USF Life Sciences Educational Program • Utilizes Philosophy of “Zone of Proximal Development” • Provides Opportunities for “Situated Learning” • Allows Students to Become a Part of a “Community of Practice” • Encourages “Active Apprentice Engagement” • Increasing Levels of Responsibility and Skill Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

18. USF Life Sciences Educational Program • Uses Strong Consistent Learning Threads Throughout the Program’s Curricula • Promotes Development of Appropriate Entrepreneurial Behaviors of Learners • Applied to Development of Unique and Innovative Masters Degree Program- “Entrepreneurship in Applied Technologies” Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

19. Application of USF Entrepreneurship Pedagogy • Direct Instruction • Indirect Instruction • Experiential Learning • Independent Study • Interactive Instruction Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

20. Strong Consistent Learning Threads Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

21. USF’s Interdisciplinary Life Sciences Entrepreneurship Educational Pedagogy • Applied throughout all entrepreneurship education and training programs • Applied across 15 entrepreneurship courses • Applied in both 4 course Graduate Certificate and 11 course Master of Science Degree :”Entrepreneurship in Applied Technologies” programs Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

22. Strategic Market Assessment Intellectual Property FDA Regulatory Compliance Product Development Entrepreneurship Strategy Business Plan Development New Venture Formation New Venture Financing Internship Ethics Research Fundamentals Master’s Degree ProgramEntrepreneurship in Applied TechnologiesEleven Courses: Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

23. USF’s Interdisciplinary Life Sciences Entrepreneurship Educational Pedagogy • Nine Years (1997 – 2006) • 15 Courses • (From 3 to 15 Individual Courses) • 36 Classes • (from 3 to 36 Course Offerings) • 880 Students • (from 40 to 880 per year) • 135 Student Team Projects • (from 14 to 135 per year) • 25 New Ventures • (from 0 to 8 per year) Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

24. Outcomes-New Ventures • New Ventures: • New Technology Venture Opportunities Evaluated: 36 • Potential New Ventures:33 • (3 Projects from Prior Ventures) • New Ventures Formed:21 • (10 Licensure Opportunities-Not Appropriate for New Venture Formation) • (1 Further R&D, 1 Technology Failure) Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

25. Outcomes—Education • Students: • National and International Competitiveness • Stanford University BioDesign Innovation Fellowship • Swiss Institute of Technology—Zurich • University of Miami and Florida State University Schools of Law • Many multi-national companies (Accenture, Goldman Sachs, Morgan Stanley, Millipore, etc.) Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

26. Outcomes—Education • Program Level: • National and International Model • National Consortium for Life Sciences Entrepreneurship (NCLSE) • United States Association for Small Business and Entrepreneurship (USASBE) • University of Paris, University of Glamorgan • ISTEC Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

27. USF Entrepreneurship Website Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

28. Acknowledgements Dr. Robert Forsythe, Dean, COBA Dr. Steven Klasko, Dean, COM Dr. William Marshall, Associate Dean COM Dr. Paul Givens, Associate Dean COE Dr. Greg Henley, CFE Mr. Stephen Budd, CFE Students of the USF Entrepreneurship Program USF & Moffitt Cancer Center Faculty and Staff Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

29. USF’s Interdisciplinary Life Sciences Entrepreneurship Educational Pedagogy Dr. Michael W. Fountain fountain@coba.usf.edu 813-974-7900 www.ce.usf.edu Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship

30. Questions? Technology Entrepreneurship For The 21st Century TM USF Center for Entrepreneurship