Entrepreneurship Education. Khanjan Mehta Soumyadipta Acharya

Transcription

1 Entrepreneurship Education Khanjan Mehta Soumyadipta Acharya

2 How Ventures work at CBID Soumyadipta Acharya, MD, PhD Graduate Program Director Center for Bioengineering Innovation & Design

3 Our Mission the education and development of the next generation of leaders in healthcare innovation And the creation and early-stage development of healthcare solutions that have a transformational impact on human health around the world. ~ Our key measure of success is the positive impact Of our students and our technologies

4 least favorite concepts not bench to bedside bedside to bench to bedside innovation not tech transfer partnerships

5 Need to Invest Time/Funds in All Topic Areas Organizational Strategic Finance and Resourcing Strategic Decisions Patient, Family Health Care Worker, Physician Clinical People Team Time and Cost Health Care Facility, Provider Time and Cost Evaluation, Verification Reimbursemen t, Payer Commercial Technical - Design Idea, Concept, IP Creation, Development Solution Spec and Concepts Intel Property, Competitive Landscape Regulatory, Compliance Copyright Youseph Yazdi 2013

6 Our Model: Careful, Efficient Resource Allocation Organizational - Strategic Clinical your investment in understanding clinical needs Time and Cost Time and Cost Technical - Design Commercial Copyright Youseph Yazdi 2013

7 Our Model: Careful, Efficient Resource Allocation Organizational - Strategic Clinical your investment in understanding clinical needs Time and Cost Time and Cost Technical - Design your investment in understanding commercial value Commercial Copyright Youseph Yazdi 2013

8 Our Model: Careful, Efficient Resource Allocation Organizational - Strategic Clinical your investment in understanding clinical needs Time and Cost Time and Cost your investment in developing solution Technical - Design your investment in understanding commercial value Commercial Copyright Youseph Yazdi 2013

9 Our Model: Careful, Efficient Resource Allocation Organizational - Strategic Clinical your investment in organizational and strategic alignment Time and Cost your investment in understanding clinical needs Time and Cost your investment in developing solution Technical - Design your investment in understanding commercial value Commercial Copyright Youseph Yazdi 2013

10 Our Model: Careful, Efficient Resource Allocation Organizational - Strategic go, modify, pivot, kill? Clinical your investment in organizational and strategic alignment Time and Cost your investment in understanding clinical needs Time and Cost your investment in developing solution Technical - Design your investment in understanding commercial value Commercial Copyright Youseph Yazdi 2013

11 Our Model: Careful, Efficient Resource Allocation Organizational - Strategic go, modify, pivot, kill? Clinical your investment in organizational and strategic alignment Time and Cost your investment in understanding clinical needs Time and Cost your investment in developing solution Technical - Design your investment in understanding commercial value Commercial Copyright Youseph Yazdi 2013

12 Time and Cost Time and Cost Copyright Youseph Yazdi 2013

13 Over 12 Months: Iterate and Build Insights on all Stakeholders o Commercial: o Courses: Insight Informed Innovation, Business of Biomedical Innovation o Results: business plans developed, including regulatory, reimbursement, investment o Technical: o multiple iterations of looks-like and works-like prototypes o Provisionals filed, IP strategy outlined o Clinical: o Insights from multiple clinical immersions and end users o Pre-clinical evaluations of several concepts o Organizational: o Startup options decided, follow-on team created o Funding pipeline developed o Funding: o Year 1 : $30,000 prototyping fund o Intramural funds- Coulter, Tech Accel Fund o Extramural Maryland, NIH, NSF, etc.

14 5-year translational outcomes ~ 41 Active Provisionals or Full Patents ~12 Licenses ~ 12 Startups ~ Startup Funding Raised $5.6M ~ Industry/Foundation Funding Raised $3M ~Corporate Partnerships w GSK, BD, Medtronic, Boston Scientific, J&J, GE, Laerdal Medical, DuPont Each Year: ~25 Medical Innovation Projects ~10 Global Health Related ~ 40 Clinicians Involved ~100 students

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16 HESE Coursework Certificate in ECE Minor in Social Eship

17 Affordable Greenhouses Design

18 Affordable Greenhouses

19 SL, Moz: GRO Greenhouses

20 Solar Panel Certification

21 Current Mashavu Social Franchisees Current employees Eunice Ann Salome Margaret Lillian Ann 21

22 Low-Cost Diagnostics

23 $20 3D Printed Prosthetics

24 Research: Scholarly Research Engaged + Scholarship Publication 118 Pubs; 17 In Review; 30+ In Prep

25 Design with Communities Commercialize for Markets

26 Frame Changers #57 by Khanjan Mehta 2014 Art by Jabez Issa Ellie on the keyboard. Holly on the mouse. Jenny on the screen. Go Team!

27 Teamwork Models 1. Student Project Assembly Line 1. Students come with ideas; design products and systems 2. End of semester = end of (most) projects 3. Students champion them further...or they die! 2. Multi-year Institutional Ventures 1. Ventures emerge and advance over time 2. Student teams pass the baton from year to year 3. Faculty anchors resources, strategy, continuity

28 Funding and Accountability

29 Deployment Channels

30 Partnerships

31 Long Time Horizons

32 Selected Spinouts & Startups

33 Selected Spinouts & Startups in Three Years

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36 Community based Pre-eclampsia screening

37 A low cost non-invasive tool for community based anemia screening and surveillance What the health worker sees: What the health official sees:

38 Decision support system epartogram: better management of labor and delivery A telemedicine enabled electronic partogram: Android App running on low cost tablets. Reminders, decision support, tele-consultation, automated measurements

39 CBID Solution: The CryoPop Uses liquid phase of gas tank to create a dry ice block on a stick smaller gas tank needed lower cost device, no tubes to clog or repair As ablation proceeds, ice block evapolates Testing on sheep cervix shows equivalent ablation performance Cryopopreusable handle ~$30.00 injection molded plastic Requires a 10lb tank to treat 10 women

40 We just opened Pandora s Box: 1. Is your primary goal 1. Technical Education 2. Design Education 3. Entrepreneurship Education 4. Entrepreneurship? 2. Do you want to expose students to a certain phase of the innovation lifecycle? 3. How vested do you want to be in the venture?

41 Student vs. Institutional Ventures 1. Venture Continuity: 2. Intellectual property concerns 3. Access to resources 4. Deployment channels: not the mission of the university?? No scholarship in these activities?? Why should University put resources behind this?? Glory is in-we designed a doohickey and it does fancy stuff.. Nobody seems to care about the lives impacted ( or have the patience for it)? Got to get field partner engagement early on!! Could a lean Launchpad / icorpstype model align the educational model and entrepreneurship objectives. 5. Student / Faculty Incentives 6. Learning Outcomes:learning to start and run a business/ learning engineering design/ user need centric design. If the goal is the venture.. Then it is easy to cut corners in the didactic component. In contrast-do students really learn entrepreneurship if it is not experiential?? Empathy (is that a learning objective?)/ cocreation. 7. Entrepreneurial Outcomes 8. Research Outcomes 9. Conflicts of Interest: Can faculty help with ongoing R&D, if it is a venture? Conflicts are good and healthy-they create diversity of educational models. Ned to manage with fairness. University says- is this for you or fir us? Faculty can t be advisor to student wit whom you are in business.

42 Access to Resources: Funding and mentoring during postuniversity but pre-revenue situation, ownership/ip concerns when using/accepting resources, conflicts with university development for early support, student ventures have limited resources and validation, student ventures need new funding sources, there comes a time when university stop supporting the venture, access/pricing issues with research, teaching and commercial equipment

43 Entrepreneurship Outcomes: Start-up vs. technical transfer of IP, different partners/stakeholders have priorities, how will project continue when students graduate?, research outcomes and university regulations might conflict with entrepreneurship outcomes

44 Student/Faculty Incentives: Students focus on startups or jobs, whereas institutions focus on PR and money gained from ventures

45 Research outcomes: Reasonable number of publications vs. high-impact (and high-effort) publications, Research not affiliated with a university might be harder to attain regulatory approval, who is the lead on research determines future trajectory, adequate support/ownership for undergraduate research experience is lacking,

46 Engagement IMPACT Khanjan Mehta Soumya Acharya