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This is a talk given to rising undergrad chemistry seniors attending a summer REU program at UMass Amherst funded by NSF in 2010. The talk is designed to make students aware of the impact they can have on the world by pursuing commercial translation opportunities.
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Students: Be Relevant!
Speaker: Humera Fasihuddin, NCIIA (www.nciia.org)CURE REU Program 2010, NSF
Integrated Sciences CenterUniversity of Massachusetts Amherst
http://www.youtube.com/watch?v=a45dXztokZMA completely irrelevant, but funny chemistry video to start this talk:
Basic Research Translation
t 20 years
Basic Research Translation:We need results sooner.
t 10 20 years
Our nation’s competitiveness is at stake.
Population Growth
http://commons.wikimedia.org/wiki/File:Population_growth_rate_world.PNG(Population growth rate, as listed on [http://www.cia.gov/cia/publications/factbook/fields/2002.html CIA factbook]
% Growth
Climate Change
Impact on all of Earth’s inhabitants
Population growth will have most pronounced impact on world’s poor
% Population Living on <$2/day
Health Care Costs Spiraling
https://forms.house.gov/herger/issues_WMhealth.shtml
Obesity Epidemic, just one example (common denominator to diabetes, heart disease, cardiovascular disease, hypertension,
kidney disease)
Big companies don’t have all the answers
U.S. economies, jobs &competitiveness at risk
Do something to help the world today.
14
Invention vs. Innovation (Wikipedia)
• An invention is a new configuration, composition of matter, device, or process. Some inventions are based on pre-existing models or ideas. Other inventions are radical breakthroughs which may extend the boundaries of human knowledge or experience.
• The term innovation means a new way of doing something. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations. A distinction is typically made between invention, an idea made manifest, and innovation, ideas applied successfully.
15
Invention vs. Innovation (Humera)
• An invention is a new thing.
• The term innovation means it actually changes the way people do things.
“It don’t mean a thing unless it has impact.”
Where does your research have relevanceWhere does your research have relevance?
Collegiate Innovators
Ecovative @ RPI
Green replacement for polystyrene
19
Rotovirus Vaccine @ Johns Hopkins
Vaccine on a ‘breathstrip’ enables developing world vaccination without refrigeration
Whole Tree @ Baylor
Create green products commercial markets.Indirectly alleviating poverty amongst coconut farmers across globe.
Liquidia and Micell @ UNCNovel chemistry used for
gene therapy, drug delivery & medical devices
Faculty lead, but many graduate students on team.
Ablitech @ Southern Miss
Polymers enabling targeted drug delivery direct to cancerous tissue.
Natalie and Jeff Agar @ Harvard and Brandeis
Enabling 3D high-res imaging of in-tact tumor tissue using Mass Spec
Redwood Biosciences @ Berkeley
Lighting up sugars surrounding cells still in the body, to deliver optimized novel biotherapies.
Faculty lead, but many graduate students on team.
25
Advantages to Innovating in College
Bootstrapped Existence: no mortgage, car loans, big student bills
Access: laboratories, professors, world thinkers, conferences
Market: closeness and understanding of Generation Y issues, ideals, interests
OK, I’m Convinced. What’s next.
Market Pull Market Push
• Look for problems you want to solve
• Look for problems solved by your solution (or other’s)
• Develop an intellectual property strategy
• Think of all possible ways to solve that problem
• Pick one and work on it
• Develop an intellectual property strategy
OK, I’m Convinced. What’s next.
• License to big company• License to startup
• Venture– Play a central role– Play an advisory role
The key, often times, is the IntellectualProperty strategy.
Factors for SuccessIf Graduate Track, value in
cultivating venture skills.Why? Attracting funding. Guiding
students.How?
– Find supportive research advisor– Find supportive institution– Cultivate relationship with tech
transfer, et al– Find good venture mentors– Attract best and well-rounded
team…keep your eye’s open to market
opportunities.
If Job Market, cultivate venture skills to be most valuable to hiring companies.
Use your undergraduate years to cultivate venture skills.
How?– Find off-the-shelf license or
new venture opportunity– Build well-rounded team– Articulate proposition– Raise funds– Develop value– Job, acquisition, learning, etc.
There are resources to help you…
• On Campus– Tech Transfer Office– School of Management– School of Law– Entrepreneurs in
Residence– Business Plan
Competitions– Seed Funds
• Off Campus
–SBIR/STTR funding
– Angel Networks, Venture Capitalists
– Mentors and Advisors– Regional Technology
Associations– State Funds– Other Campus Competitions– NCIIA (funds, workshops,
competitions)
30
College Challenges NCIIA Resources• Money• Skills• Experience• Credibility• Network
• NCIIA Grants $20K• NCIIA I2V Workshops– Advanced– Introductory
• NCIIA Mentoring• NCIIA VentureWell
www.nciia.org
Innovate.
t 10 years
Thank you. Q&A.