Western Medical Innovation Fellowship - Mini MIF

WORLDiscoveries is launching a short MIF program to introduce the biodesign process approach to medical innovation. Open to Western’s medical students, engineering and other medical health professional students who would find an introduction to a design thinking based approach useful for their medical or related career journey. The aim of this short program is to provide entrepreneurial participants with skills that would prepare them for the full Medical Innovation Fellowship program as well as providing participants with:

  • Learning on key innovation and business concepts
  • Build entrepreneurial skills in conversation with senior business professionals and MIF alumni
  • Join a network of scientists, physicians, engineers and others interested in commercialization of medical innovation

The mini MIF program will run from January 13 to April 28, 2021 and requires a 2 hrs/week commitment to attend virtual webinars and workshops. The program is tailored to provide hands-on learning in medical health innovation; through feedback from community innovators and by providing guidance on how to anticipate potential hurdles early on in the innovation process and how to perform market assessment. The knowledge and skills developed in the program will help to maximize the chances of entrepreneurial success in the medical health space. Understanding the importance of a well-crafted medical needs statement and interdisciplinary collaboration between medicine, engineering and business is at the core of the program.

Syllabus

Week 1-4: Introduction to Medical Innovation and how to determine a need statement
1. Why is a well-characterized need statement the key to successful innovation?
2. How do you efficiently assess existing solutions and important stakeholders?
3.How do you perform a market analysis for a particular need?
4. Work time & feedback on the team’s Need Statements (MIF mentors workshop)
Week 5-8: Solution to your Need Statement
5. How do you design innovative solutions?
6. What is the importance of Intellectual Property for the innovator? Everything you need to know about regulatory bodies.
7. How does an innovator objectively select the concept that best addresses the need?
8. Work time & feedback on the team’s possible solutions (MIF mentors workshop)
Week 9-12: Business Development and Commercializing your IP
9. Developing a business model that is appropriate to bring your concept into practice
10. IP basics and patent filing
11. How do you validate the effectiveness of your solution?
12. Work time & feedback on the team’s possible solutions (MIF mentors workshop)
Week 13-16: Commercializing your solution, starting a company and pitching
13. How do you set up a company and commercialize a solution?
14. How do you successfully pitch your idea to raise money?
15. Case-stories: challenges to founding a company
16. Final project presentations by students with feedback from an external panel (MIF mentors workshop)