Entrepreneurship benefits scientists that want to transform their research findings into a product or service. The work can be very diverse depending on the company's business platform and developmental stage. However, it will likely involve acquiring funding, developing a product/service, and marketing your company.
Understanding of finance, product/service development, marketing, and business strategy
Ability to raise funds through investors, crowdsourcing and/or grants
Expertise in a technology or skill-set to base the company on
Technology transfer skills, including understanding or even writing patents
Types of Positions
Founder or Co-Founder
Often, also the Chief Executive Officer (CEO) or Chief Science Officer (CSO).
Business Coursework/Research: understanding the logistics of starting, operating, financing and managing a business is crucial for success in this career.
Transferable Post-Doc: research in a field that can be made into products/services could help give you the experience you need to start a company.
Informational Interviews: talking with people who have started their own company can help you determine if this is a good career for you. It could also provide you with valuable connections for when you start up your own company.
Technology Commercialization: talk with the Office for Technology Commercialization for information or an internship. These skills will be invaluable in a lot of fields, including entrepreneurship.
There is not straightforward career progression. Many science entrepreneurs get started by making a discovery that they think could potentially be brought to market. For example, you discover a novel drug target that could slow Alzheimer’s progression. Others are drawn by the high-risk and exciting world of startups, and seek out opportunities to start a company.
Twin Cities Companies
Office for Technology Commercialization
New Product Design and Business Development:
Gary S. Holmes Center for Entrereneurship: http://carlsonschool.umn.edu/faculty-research/gary-s-holmes-center-entrepreneurship
MIN-Corps seminars and courses:
The Kauffman Dissertation Fellowship Program
United States Patent and Trademark Office
Medical Alley Association