TY - JOUR
T1 - Starting a Medical Technology Venture as a Young Academic Innovator or Student Entrepreneur
AU - Manbachi, Amir
AU - Kreamer-Tonin, Katlin
AU - Walch, Philipp
AU - Gamo, Nao J.
AU - Khoshakhlagh, Parastoo
AU - Zhang, Yu Shrike
AU - Montague, Charles
AU - Acharya, Soumyadipta
AU - Logsdon, Elizabeth A.
AU - Allen, Robert H.
AU - Durr, Nicholas J.
AU - Luciano, Mark G.
AU - Theodore, Nicholas
AU - Brem, Henry
AU - Yazdi, Youseph
N1 - Funding Information:
The authors would like to thank Professors Alireza Khademhosseini (Harvard-MIT Division of Health Sciences and Technology), Robert Langer (MIT) and President Ronald J. Daniels (Johns Hopkins University) for helpful discussions.
Funding Information:
1Center for Bioengineering Innovation and Design, Department of Biomedical Engineering, Johns Hopkins University, 3400 N. Charles Street, Clark Hall 208, Baltimore, MD 21218, USA; 2Division of Engineering Science, University of Toronto, Toronto, ON M5S 1A4, Canada; 3Harvard-MIT Division of Health Sciences and Technology, Massachusetts Institute of Technology, Cambridge, MA 02139, USA; 4Biomaterials Innovation Research Center, Division of Biomedical Engineering, Brigham and Women’s Hospital, Harvard Medical School, Cambridge, MA 02139, USA; 5Institute of Pharmacy and Molecular Biotechnology, Heidelberg University, Im Neuenheimer Feld 364, 69120 Heidelberg, Germany; 6Chesapeake Visions, LLC, Baltimore, MD 21202, USA; 7Department of Gynecology and Obstetrics, Johns Hopkins University, Baltimore, MD 21287, USA; and 8Department of Neurology and Neurosurgery, Johns Hopkins University, Baltimore, MD 21287, USA
Publisher Copyright:
© 2017, Biomedical Engineering Society.
PY - 2018/1/1
Y1 - 2018/1/1
N2 - Following the footprints of Bill Gates, Steve Jobs and Mark Zuckerberg, there has been a misconception that students are better off quitting their studies to bring to life their ideas, create jobs and monetize their inventions. Having historically transitioned from manpower to mind power, we live in one of the most rapidly changing times in human history. As a result, academic institutions that are supposed to be pioneers and educators of the next generations have started to realize that they need to adapt to a new system, and change their policies to be more flexible towards patent ownership and commercialization. There is an infrastructure being developed towards students starting their own businesses while continuing with their studies. This paper aims to provide an overview of the existing landscape, the exciting rewards as well as risks awaiting a student entrepreneur, the challenges of the present ecosystem, and questions to consider prior to embarking on such a journey. Various entities influencing the start-up environment are considered, specifically for the medical technology sector. These parties include but are not limited to: scientists, clinicians, investors, academic institutions and governments. A special focus will be set on the seemingly unbridgeable gap between founding a company and a scientific career.
AB - Following the footprints of Bill Gates, Steve Jobs and Mark Zuckerberg, there has been a misconception that students are better off quitting their studies to bring to life their ideas, create jobs and monetize their inventions. Having historically transitioned from manpower to mind power, we live in one of the most rapidly changing times in human history. As a result, academic institutions that are supposed to be pioneers and educators of the next generations have started to realize that they need to adapt to a new system, and change their policies to be more flexible towards patent ownership and commercialization. There is an infrastructure being developed towards students starting their own businesses while continuing with their studies. This paper aims to provide an overview of the existing landscape, the exciting rewards as well as risks awaiting a student entrepreneur, the challenges of the present ecosystem, and questions to consider prior to embarking on such a journey. Various entities influencing the start-up environment are considered, specifically for the medical technology sector. These parties include but are not limited to: scientists, clinicians, investors, academic institutions and governments. A special focus will be set on the seemingly unbridgeable gap between founding a company and a scientific career.
KW - Bioentrepreneur
KW - Entrepreneurship
KW - Medical devices
KW - Student entrepreneurship
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U2 - 10.1007/s10439-017-1938-x
DO - 10.1007/s10439-017-1938-x
M3 - Review article
C2 - 29019076
AN - SCOPUS:85030834010
SN - 0090-6964
VL - 46
JO - Annals of biomedical engineering
JF - Annals of biomedical engineering
IS - 1
ER -