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NUvention: Medical Innovation Vignette BME-IDEA 2009 October 7, 2009
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Fall and Winter Quarters – September-March 8-10 Clinical Teams 2 Students from each of four schools: –Business/Kellogg-2 nd Year Students –Engineering/McCormick-MS or PhD students –Medical/Feinberg-M4’s –Law-Second or Third Years Teams built around med student’s specialty interests Faculty Steering Committee representing 4 schools-each oversee 1-2 teams Subject matter experts leveraged from each school depending on team focus areas Program Format
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Unique Features Med Device Industry Advisory Board that actively participates in program and judges Opportunity and Final Pitches –Analogic, Baxter, Boston Scientific, Covidien, Edwards, J&J, Lake Regions, Greatbatch, Moog/Curlin –Each contribute $25K annually to fund program –Each team has up to $10K for costs Full product and business development cycle experienced Real corporations created and provisional patents filed by each team which are graded exercises
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Challenges Combining cultures and administrative differences of four separate schools –Med school students on pass/fail while all others get grades –Separate campus’ so program location alternates –Faculty teaching credit also varies by school Lectures/Discussion need to be relevant to each student –Finance discussion needs to be relevant for a Kellogg student that is a former venture capitalist and Feinberg/Medical student that does not know what a price/earnings ratio is. –Many topics switched from lecture to team meetings where students with expertise teach each other with faculty present to assess.
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Example NEURDS, INC. – Neurosurgery Team 2008/9 -Wireless power technology for implantable devices -Completed Series “A” round in August 2009
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