Studio Zao have inspired healthcare innovation researchers at the Institute of Cancer Research to develop the entrepreneurial capabilities of its top researchers through a Entrepreneurship Bootcamp to support them in developing viable commercial applications of their research.

BACKGROUND

The Institute of Cancer Research (ICR) is the world’s leading cancer and oncology research institute, driving cutting-edge research into cancer treatment and therapy. Aside from being a pioneer in scientific discoveries, it also creates the conditions to connect ICR scientists with industry.

OBJECTIVES

The ICR asked us to support its researchers in investigating commercial applications of their research and IP and to help them explore entrepreneurship as a route, collaborating with the ICR to be able to validate and launch new ventures.

APPROACH

We ran an immersive two-day entrepreneurial immersion bootcamp for researchers.

The first day was focused on discovering the individuals’ personal unfair advantages and using that for ideation, systematic customer assumption mapping and customer discovery. The second day was focused on helping the teams build valid business cases for their propositions and a market validation plan.

They also undertook a workshop that improved their skills in communicating with industry, giving them a competitive edge for pitching for the very first time at the end of the entrepreneurship bootcamp.

The bootcamp included experts such as serial-entrepreneur, investor and non-executive director Simon Devonshire OBE, and IP specialist Jeremy Holmes.

OUTCOMES

Each team presented their propositions at the end of the second day experiencing the entrepreneurship journey for the first time, which resulted in a number being taken further by the ICR.

After the bootcamp, researchers said they felt “very inspired to start a business” and it was “helpful to see it [made] possible”, and said the bootcamp “gave me courage to build my own company in the future”. At the end of the Bootcamp, 40% of participants said they felt very confident to pitch their idea.

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