In Bioscience and Technology
It takes more than a good idea to create a successful company. Collective strength, competence and experience are essential to building a new business. So is also the entrepreneurial leadership necessary to realise the potential of an entrepreneurial team and its network.
Furthermore, the industry is changing rapidly, in particular within the crossroads of bioscience and technology. In Sweden and internationally, companies are facing new challenges and need to find new business models. Old established structures are likely to be replaced with more innovative and networked models spanning between public and private actors. This change creates a demand for people capable of bridging the gap between business creation and bioscience & technology research, and for individuals capable of identifying new business models.
As part of the Venture Creation tracks, you will be in the driver’s seat of an innovative high-tech project and develop hands-on skills in business creation and entrepreneurial leadership. When we founded Chalmers School of Entrepreneurship back in 1997 it was with the intention to bridge the gap between university research and commercial reality - to create real value while obtaining an academic education. Today the Venture Creation tracks are part of a leading high-tech start-up environment in Sweden.
The mission to develop entrepreneurs and advanced technology ventures is today carried out in cooperation with idea providers from academic research and R&D departments at major firms. Together we work to transform promising ideas and research projects into thriving high-tech businesses, and through this reality-based approach, we educate entrepreneurial leaders fit for running start-ups as well as business development in established firms.
The key to this innovative value creation is the students and the teams they form during the education. By acquiring knowledge, tools and skills needed to shape the future of technology ventures and projects, and being allowed to apply their creativity on real innovation projects the students create real value for the innovation project as well as develop their entrepreneurial ability through a true “learning-by-doing” pedagogy.
In addition to the academic education, the school’s close connection with experienced entrepreneurs forms a valuable network of support and advice for the students doing bioscience and technology venturing.
Real Venture Creation
During the second year of the Venture Creation tracks students are divided into teams, which are matched with researchers and innovators who have contributed ideas with commercial potential. From a dedicated work-space, the students engage in the commercial development of the project, such as attracting funding, technology & product development, and creation of IP. The real venture creation is combined with academic Master’s Thesis work. Taking care of daily business means generating empirical data, which of course has to be anchored with theory and packaged according to established methodology.
Working with venture creation in the fields of bioscience and technology means that the ideas our students work with come from a wide variety of application areas. They create ventures within renewable energy, medical devices, artificial intelligence, and new materials, just to name a few.
A chance to be an owner of a start-up
Each year, approximately 4-5 of the innovation projects developed by the students within the Venture Creation tracks in Bioscience and Technology are incorporated. This creates an opportunity for one or more of the students involved in the project carry on as business developers within the newly formed company.
Each student involved in an innovation project that is successfully incorporated into a firm can gain an ownership stake. Students who continue to work operatively normally obtain an even larger share.
A vast majority of the students from these tracks operate as leaders and managers today. Many of the alumni continue in new ventures, either created as part of the education or based on other ideas. For others it’s not unusual to find career opportunities as business developers, projects managers, management trainees and investment managers in leading corporations spanning over media, med-tech, telecom, IT and beyond. The rapid learning pace in the education and the ability of students to package and sell knowledge, also make them a preferred choice for major management consultancy firms.
In collaboration with Chalmers Ventures
Chalmers Ventures is an investor and incubator realising ideas together with Chalmers School of Entrepreneurship. Already since 2001 there has been a symbiotic relationship with an incubator within the Chalmers family who takes the commercial responsibility. Today this incubator is an integrated part of Chalmers Ventures. The relationship between the school and an incubator has created a sophisticated mechanism to enhance both entrepreneurial learning as well as value creation coming from ventures. Today Chalmers Ventures engages idea-providers from Sweden and internationally with promising spin-off ideas that need complementary entrepreneurial competence to move on. Student teams are then formed around selected ideas allowing learning as well as value to be created during the final year of the master’s programme. After that, Chalmers Ventures takes responsibility for incorporating the most promising ventures together with idea providers, graduated school of entrepreneurship students and other identified key persons.
For details regarding the Venture Creation tracks within the Master’s Programme Entrepreneurship and Business Design at Chalmers please visit the programme website.