Stanford Biodesign

http://biodesign.stanford.edu

Round

Fall-Winter 2005

Project Type

Full team

Project Focus

Cost Analysis

Organization Type

Education

Organization

The Biodesign Program at Stanford University (Biodesign) is a broad collaboration between University faculty and students who share a vision for technology innovation in biomedical engineering through invention and discovery, education, ethics and policy, technology transfer, and career services. The mission of the program is to develop leaders in biomedical technology innovation through collaborative educational programs and resources. Biodesign uses a variety of education methods to serve the biomedical engineering (BME) community, including academic courses, fellowships, seminars, and workshops.

Project Objectives

Biodesign asked an ACT team to:

Recommend strategies and tactics to achieve long-term financial stability of the Biodesign program
Provide market research that will assist Biodesign in clarifying its mission, so that it outlines corporate funding process and haracterizes Biodesign’s position within the University

Project Overview

The ACT team interviewed alumni, staff, corporations, and venture capital firms to determine Biodesign’s strengths, challenges, and opportunities. The team also examined three different structural options and reviewed potential funding sources.

Key Recommendations

Biodesign mission, goals, and leadership

Clarify mission and goals and implement three-year growth plan
Develop leadership succession plan and communicate to stakeholders
Develop process for identifying and prioritizing new areas for innovation
Clarify differences between Bioengineering, BioX, and Biodesign

Funding strategies

Optimize current processes by improving internal and external communications
Redesign Biodesign’s programs and mission to create multiple opportunities for funding

Communication