PX3149: Commercialising Innovation
| School | Cardiff School of Physics & Astronomy |
| Department Code | PHYSX |
| Module Code | PX3149 |
| External Subject Code | 100425 |
| Number of Credits | 10 |
| Level | L6 |
| Language of Delivery | English |
| Module Leader | Professor Peter Hargrave |
| Semester | Autumn Semester |
| Academic Year | 2015/6 |
Outline Description of Module
To develop an understanding of the commercialisation process in physics and engineering innovation.
To enhance student employability and enterprise skills in line with the University’s Employability and Enterprise Strategy.
On completion of the module a student should be able to
Describe the process of commercialisation for a new physics and engineering innovation.
Identify a relevant company structure and offer reasoning for its use.
Outline the intellectual property considerations when establishing a new commercial entity.
Undertake research and market analysis for a new physics and engineering innovation.
Evaluate opportunities for a new physics and engineering innovation.
Reflect on one’s own ability to contribute effectively to group activities and manage own time and resources in working towards group goals.
Construct and present an outline business plan for the commercialisation of a new physics and engineering innovation.
How the module will be delivered
24 hr contact time (grouped into 12 two-hour sessions)
Skills that will be practised and developed
Problem solving. Communications skills. Personal skills. Entrepreneurial skills. Investigative skills. Ethical behaviour.
How the module will be assessed
Continuous Assessment
Assessment Breakdown
| Type | % | Title | Duration(hrs) |
|---|---|---|---|
| Written Assessment | 100 | Commercialising Innovation | N/A |
Syllabus content
Introduction to innovation and enterprise.
Company structures.
Evaluating ideas and innovation.
Understanding your market competitors and customers.
Marketing and the importance of brands.
Intellectual Property – patents, registered designs and trademarks.
Business planning.
Presenting an idea.
Module Summary: This module provides an opportunity to work within a team to develop, plan and evaluate an idea for a new emerging physics and engineering based business. Emphasis is placed on the development of commercial awareness skills, analysis of new ideas, presentation, report writing and the relationship between innovation and commercial exploitation.
Module presentation: This module will take the form of lectures, seminars and structured “company” meetings. Within the context of being “an innovative physics and engineering based small firm”, each group will be supported though the challenges and stages of commercialising an engineering project. Drawing on the support of guest lecturers and industry professionals, students will gain exposure to real life examples for learning. Assessment will be via their personal contribution to team tasks, a group business plan and formal presentation.
Background Reading and Resource List
G Beaver 2002. Small business, entrepreneurship and enterprise development. Harlow: FT Prentice Hall.
J Bessant and J Tidd 2007. Innovation and entrepreneurship. Chichester: Wiley.
S Bridge, K O’Neill and S Cromie 2008. Understanding enterprise, entrepreneurship and small business. 3rd Edition. Basingstoke: Palgrave Macmillan.
P Burns 2011. Entrepreneurship and small business. 3rd Edition. Basingstoke: Palgrave Macmillan.
S Carter and D Jones-Evans 2006. Enterprise and small business. Principles, practice and policy. 2nd Edition. Harlow: FT Prentice Hall.
D Rae 2007. Entrepreneurship from opportunity to action. Basingstoke: Palgrave Macmillan.