entrepreneurship | education · multi-year institutional ventures 1. ventures emerge and advance...
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Entrepreneurship | Education
Khanjan Mehta
Soumyadipta Acharya
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How Ventures work at CBIDSoumyadipta Acharya, MD, PhD
Graduate Program Director Center for Bioengineering Innovation & Design
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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
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not
bench to bedside
bedside to
bench to
bedside
least favorite concepts…
not
tech transfer
inn
ova
tio
n
pa
rtn
ers
hip
s
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Clinical
People –
Team
Strategic
Decisions
Finance
and
Resourcing
Patient,
Family
Health Care
Worker, Physician
Health Care
Facility,
Provider
Commercial
Technical -
Design
Organizational –
Strategic
Reimbursemen
t, Payer
Regulatory,
Compliance
Intel Property,
Competitive
Landscape
Solution Spec
and Concepts
Evaluation,
Verification
Idea, Concept,
IP Creation,
Development
Time and CostTime and Cost
Need to Invest Time/Funds in All Topic Areas
Copyright Youseph Yazdi 2013
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Clinical
Commercial
Technical -
Design
Organizational -
Strategic
Time and CostTime and Cost
your investment
in
understanding
clinical needs
Copyright Youseph Yazdi 2013
Our Model: Careful, Efficient Resource Allocation
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Clinical
Commercial
Technical -
Design
Organizational -
Strategic
Time and CostTime and Cost
your investment
in
understanding
clinical needs
your investment
in
understanding
commercial
value
Copyright Youseph Yazdi 2013
Our Model: Careful, Efficient Resource Allocation
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Clinical
Commercial
Technical -
Design
Organizational -
Strategic
Time and CostTime and Cost
your investment
in
understanding
clinical needs
your investment
in
understanding
commercial
value
your investment
in developing
solution
Copyright Youseph Yazdi 2013
Our Model: Careful, Efficient Resource Allocation
![Page 9: Entrepreneurship | Education · Multi-year Institutional Ventures 1. Ventures emerge and advance over time 2. Student teams pass the baton from year to year ... support, student ventures](https://reader034.vdocuments.us/reader034/viewer/2022042213/5eb6af32cbb87570da702620/html5/thumbnails/9.jpg)
Clinical
Commercial
Technical -
Design
Organizational -
Strategic
Time and CostTime and Cost
your investment
in
understanding
clinical needs
your investment
in
understanding
commercial
value
your investment
in developing
solution
your investment
in organizational
and strategic
alignment
Copyright Youseph Yazdi 2013
Our Model: Careful, Efficient Resource Allocation
![Page 10: Entrepreneurship | Education · Multi-year Institutional Ventures 1. Ventures emerge and advance over time 2. Student teams pass the baton from year to year ... support, student ventures](https://reader034.vdocuments.us/reader034/viewer/2022042213/5eb6af32cbb87570da702620/html5/thumbnails/10.jpg)
Clinical
Commercial
Technical -
Design
Organizational -
Strategic
Time and CostTime and Cost
your investment
in
understanding
clinical needs
your investment
in
understanding
commercial
value
your investment
in developing
solution
your investment
in organizational
and strategic
alignment
go,
modify,
pivot, kill?
Copyright Youseph Yazdi 2013
Our Model: Careful, Efficient Resource Allocation
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Clinical
Commercial
Technical -
Design
Organizational -
Strategic
Time and CostTime and Cost
your investment
in
understanding
clinical needs
your investment
in
understanding
commercial
value
your investment
in developing
solution
your investment
in organizational
and strategic
alignment
go,
modify,
pivot, kill?
Copyright Youseph Yazdi 2013
Our Model: Careful, Efficient Resource Allocation
![Page 12: Entrepreneurship | Education · Multi-year Institutional Ventures 1. Ventures emerge and advance over time 2. Student teams pass the baton from year to year ... support, student ventures](https://reader034.vdocuments.us/reader034/viewer/2022042213/5eb6af32cbb87570da702620/html5/thumbnails/12.jpg)
Time and CostTime and Cost
Copyright Youseph Yazdi 2013
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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.
Over 12 Months:Iterate and Build Insights on all Stakeholders
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Each Year:
~25 Medical Innovation Projects
~10 Global Health Related
~ 40 Clinicians Involved
~100 students
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
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HESE Coursework
Certificate in ECE | Minor in Social Eship
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Design Affordable Greenhouses
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Affordable Greenhouses
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SL, Moz: GRO Greenhouses
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Solar Panel Certification
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Current employees
21
Eunice Ann Salome Margaret Lillian Ann
Current Mashavu Social Franchisees
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Low-Cost Diagnostics
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$20 3D Printed Prosthetics
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118 Pubs; 17 In Review; 30+ In Prep
Research: Engaged ScholarshipScholarly Research + Publication
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Design with Communities
Commercialize for Markets
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“Ellie on the keyboard. Holly on the mouse.
Jenny on the screen. Go Team!”
©2014
Art
by
Jab
ez
Issa
by Khanjan Mehta#57Frame Changers
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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
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Funding and Accountability
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Deployment Channels
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Partnerships
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Long Time Horizons
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Selected Spinouts & Startups
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Selected Spinouts & Startupsin Three Years
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Community based Pre-eclampsia screening
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A low cost non-invasive tool for community basedanemia screening and surveillance
What the health worker sees:
What the health official sees:
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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
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• 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
Cryopop reusable handle
~$30.00 injection molded plastic
Requires a 10lb tank to
treat 10 women
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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?
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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’ / iCorps type 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?)/ co-creation.
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.
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Access to Resources:
Funding and mentoring during post-university 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
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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
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Student/Faculty Incentives:
Students focus on startups or jobs,
whereas institutions focus on PR and
money gained from ventures
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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,
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Engagement.
...
.....
.........
IMPACTKhanjan MehtaSoumya Acharya