News

The business of Biology

(22 September 2006)

Durham Business School is helping undergraduate biology students to put their scientific know-how into business practice.

The Biology Enterprise collaboration with Durham University’s School of Biological and Biomedical Sciences develops final year undergraduates’ enterprise skills and introduces them to the key processes of business start-up. Teams of six students spend two terms working on an idea for a business opportunity based on a scientific discovery within the field of biological and biomedical science. Using their knowledge and understanding of science, the students research and develop their idea into a technology that can be readily commercialised. Durham Business School teaches students the necessary skills and knowledge required to develop their idea into a successful business. For example, students will be expected to test their idea against the market, develop a clear business concept and write a business plan based on this. Specialist mentors from the Department of Biological Sciences, Durham Business School and an external mentor from the business community are assigned to each group. Robin Moore, Product Manager - Micro Market, Sage (UK) Limited, who is acting as a business mentor, says: “Sage is dedicated to supporting the start up community regionally and sees this as an admirable and innovative scheme.” The exercise culminates in a business plan and a presentation to a panel with a banker, venture capitalists and other members of the business community and is a ‘real life’ pitch for funding. The programme has been extremely successful, doubling student numbers year on year and students reporting that they have successfully landed their dream job as a result. Dinah Bennett, programme director at Durham Business School, said: “This is an excellent programme which aims to be as practical as possible and the external business mentors offer a real-life insight which has a huge impact on the learning process.”