Technology Commercialization was the first I&E course that I’ve taken (Spring 2018). Professor Hallford and Professor Azhar focused on teaching us the innovative process in which technology is brought to market. Students learn how technologies are conceived, mechanisms for innovation, how different customer segments are targeted, and ultimately how innovations are evaluated. Intellectual property and the process of securing funding is also discussed.
I took this course to learn more about the process start-ups use in order to go to market. As I am particularly interested in healthcare technologies, having the chance to take a course with Professor Hallford was especially exciting for me as his expertise is with medical technology. I also wanted to be able to speak with founders of healthcare start-ups and healthcare venture capitalists to learn more about each career field, to see if either interested me. Having the chance to do numerous case studies was also important since I would have the opportunity to not just learn about different processes but also apply the material to real-world companies.
One key takeaway from the class was being able to understand the potential of a business by analyzing the market demand, competitors, current technology, etc. This class opened my eyes to venture capital, and I believe that this skill is especially important for a venture capitalist. I was able to come out of the class much more interested in a venture capital career path and its integration with healthcare/biotech. Additionally, I was able to learn much more about how startups operate and develop a go-to-market strategy. Having the opportunity to listen to numerous start-up founders was especially useful for me, as I was able to learn directly from their experiences. The importance of being able to pivot when a start-up fails or when to successfully exit through an IPO was especially interesting for me as well. Most importantly, this class was instrumental in helping me decide on my career path. I became much more interested in combining my interests in healthcare and finance through healthcare venture capital, and I am confident that I am on the right path to do so.
Here is an artifact from the class: Self-Driving Cars. This was the final project where we worked in a team to use all of the skills that we have built over the semester to analyze the potential of a technology, which in our case was self-driving cars. In particular, I focused on the market analysis, where I looked at the financial impacts of industry trends, like the emergence of ride-sharing apps. I also analyzed the strengths/weaknesses of the technology in the current market climate, performed a bottom-up market analysis to determine the potential market share within the automobile industry, and estimated future costs, revenue, and profit for the overall technology.