physics and entrepreneurship

8/10/2019 Physics and Entrepreneurship

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Physics and Entrepreneurship

Surya Raghu

Advanced Fluidics LLC

Sebelas Maret University

Solo, IndonesiaDecember 9, 2012


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International Year of Physics2005

Durban Conference

Physics for Development

For Developing Countries,

tie the New Challenges in Physics

to Economic Development


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Report, International Panel, Shaping the

Future of Physics in South Afr ica, 2004

In particular, physics often acts as a lead

sciencenot only are the physics developments

of today the technology of tomorrow, but, inter

alia, it also plays the role of the canary in themine. Thus, if physics gets seriously ill, it is a

warning that science and technology as a

whole, and hence the growth of a knowledge-

based economy, are in grave danger.

-- Preamble to theExecutive Summary


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Promoting Physics and Development in Africa,

- Edmund Zingu, Physics Today January 2004

Physicists need to understand the rarity of thesequence: Physicists in basic research discoverfundamental laws, physicists in applied research thendevelop concepts, and engineersapply these concepts toproduce materials and products that are of value tosociety. Economic impact generally occurs thanks to theendeavors of teams of physicists and other scientists,engineers, and technical support personnel.

Technology often leads science, and basic science isoften not the source for new ideas but is used tounderstand technologies already in use.


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How do we convert

science into economic benefits?


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The Cycle of Economic Development

SCIENCE

TECHNOLOGY

PRODUCTS

MARKET


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What is missing?

The role of the entrepreneur who understands science,

technology and the business of making aprofitableventure

to sell the product derived from the technology to the right

customer.


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Who is an Entrepreneur?

Entrepreneur: Starts a new business based on new

products and/or services needed by the market, of

economic and social value, looking out foropportunities and taking calculated risks.

Technical entrepreneur or technopreneur:

Starts a new business based on new products or

services needed by the market, generated from

science, technology and engineering.


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The Role of the Entrepreneur

SCIENCE

TECHNOLOGY

PRODUCTS

MARKET

Entrepreneur

!


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Innovative Society = Economic Prosperity

Innovative and entrepreneurial society

produces economic prosperity

High- end innovation is a hallmark of smallcompanies called SMEs (Small and Medium

sized companies)


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Small and Medium Enterprise (SME)

Small: 1-50 Employees (Europe); 1-100

Employees (USA)

Medium:50-250 Employees (Europe) 100-500

Employees (USA) Globally, 99% of economy driven by SMEs

40-50% of GDP generation

Drive innovation and competition


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We can compete for all markets if we have the right

product.

It is a Flat World!


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The Scientist as an Entrepreneur

Many times, the entrepreneur is also the inventor/co-inventor of the productthe work done usually at theUniversity or a research institution with his graduate thesisor post-doctoral advisor.

Instead of pursuing an academic career, the enterprisinggraduate student or post-doc decides to start a company tocommercialize the inventioncalled a start-up or spin-out company.

In some cases, the inventor is a scientist/engineer in aresearch lab and the lab might allow him to start a companyto commercialize the inventioneven allowing him sometime-off to mitigate his risk.


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Options for a physicist

to take an invention to a product

Invention

University Tech

Transfer Office

Consultant to

company

Product

Leave of absenceStart

company


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Are there any contradictions in being a

scientist and an entrepreneur?

Not at all

Strong correlation exists between well accomplished

scientists and academic entrepreneurship

No reduction in the number of scientific papersmore

number of patent-publication pairs.

Transition to commercial science is found to be interesting

and motivating for many scientists.


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Qualities of an Entrepreneurial Scientist

1. InnovativeRather than trying to do what everyone else is doing, thesefolks are always searching for ways to improve on currentdesigns and take them one step further than everyone else.

2. Opportunity seeking or recognitionAn entrepreneur seeks opportunities or recognizesopportunities for technical solutions to meet the needs ofthe market.

3. Risk-taking

Along with innovation, scientist-entrepreneurs embrace riskwhen necessary. Scientists are often risk-averse, so whenyou see one who is willing to take risks, it's usually anindication that they are suited to the high-risk climate of

today's business world.


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4. Schedule-oriented

If your scientist finds timelines and schedules intimidating,then he probably isn't a good candidate for an

entrepreneurial endeavor.5. Application-minded

Effective scientist-entrepreneurs appreciate science for itsown sake, but also engage in research that creates

commercially successful applications.6. Collaborative

The process of taking a product from the research lab tostore shelves hinges on collaboration.


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7. Business Sense

It isn't necessary for a scientist-entrepreneur to be an

expert in the nuances of business. However, he at least

needs to understand the basics of business and demonstrate

a willingness to learn more along the way.

8. Goal setting9. Persistence

10. Self Awareness

what he can do and what he cannot and when to get help.

11. Need for autonomy


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What kind of education can we provide in

Colleges and Universities to produce such

entrepreneurs?

the educational system (for scientists and

engineers?) is still rather traditional, which

means that it teaches young people to obey,reproduce facts and to engage in wage-

employment after finishing their education

(Ref: The Long Road to the Entrepreneurial Society - Global Entrepreneurship Monitor

2001, The Netherlands)

We need to change this


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What should we be doing?

SHORT TERM Basics of Entrepreneurship

A one-semester Entrepreneurship Curriculum inundergraduate course and Masters courses isrecommended.

Mentorship and industrial internship for students andgraduates

Strong local govt. support for start-ups?


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What kind of infrastructure support can

the Universities provide to nurture such

innovation and entrepreneurship?

Competitions for ideas and business plans

Innovation Labs

Technology Transfer Office and advise

Exposure to Market, Technology and Industrial Needs

through Visits and Presentations

Partnership with local government to set up Science andTech Parks or Incubators.


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What is the environment that encourages

entrepreneurship?

An environment that encourages risk taking and

rewards for risks

No Taboo of failures

it is OK to fail

Positive attitudes and environment


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Some success stories of scientists becoming

entrepreneurs

1. Wolfram Research

Founded in 1987

Mathematica

Stephen Wolfram

Theoretical Physicist


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Examples of companies started by

scientists

2. Neven Vision (UCSD)

(currently owned by Google)

a physicist with a Ph.D. from RuhrUniversity, succeeded in developing

software that could analyze facial

features, skin tones and the iris of the

eye to achieve such recognition.


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engineers and scientists

5. Melys Diagnostics

Founder: Dr. Dawood Parker, UKPhysicist andProfessor

http://www.melysdiagnostics.com/

Products: Atrial Fibrillation Monitor and Continuous

Monitoring Oxygen Sensor


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6. Google

Sky is the limit in a flat earth!Founded in 1998

Founders: Larry Page and Sergei Brinhttp://www.xtimeline.com/timeline/Google-s-Timeline

http://www.google.com/corporate/history.html#1 Opportunity assessment, risk taken, support received and

execution of the plan.


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2. SUN Microsystems (1982)

Four founders

Sun Microsystems was born on

Feb. 24, 1982 -- with a grand total

of four employees: Vinod Khosla,

Bill Joy, Andy Bechtolscheim, and

Scott McNealy (circa 1982).

www.sun.com

http://www.thocp.net/companies/sun_microsystems/sun_microsystems_company.htm
http://www.thocp.net/companies/sun_microsystems/sun_microsystems_company.htmhttp://www.thocp.net/companies/sun_microsystems/sun_microsystems_company.htmhttp://www.thocp.net/companies/sun_microsystems/sun_microsystems_company.htmhttp://www.thocp.net/companies/sun_microsystems/sun_microsystems_company.htm


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New trends in the US and Europe

Academic entrepreneurs

Faculty encouraged to be inventors and commercializetheir inventions.

Technology transfer offices set up in most of theUniversities to assist commercialization of inventions.

Fact to be recognized by academics: Patents are not

publicationspatenting is very expensive compared thecost of publication.


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New trends in the US and Europe

Most Technology Transfer Offices have instituted a

screening process with access to legal assistance (patent

attorneys), and marketing experts.

Many Universities are setting up their own incubators.


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CONCLUSIONS

Science and Economic Development are tied

together

No contradiction in being an entrepreneur and aresearcher

No contradiction in publishing papers and patents

Connection to societal problems can lead tointeresting research areas

Universities should produce employment

generators than employment seekers.


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THANK YOU


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What is an invention and what is the path of an

invention to a product?


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Invention to Product: The Processes

INVENTION1. Invention notebook

2. Literature Survey

3. Invention Disclosure Form

4. Identify patent attorney

5. Check regulatory issues

6. Provisional Application

7. Start reduction to practice

8. Develop product ideas

9. Conduct market research

10. Identify and contact potential

sponsors for product development

11. Sign non-disclosure forms

12. Complete reduction to practice

13. Complete Non-Provisional patent

application

14. Assemble team to do further work

15. Start product development

16. Finish bread-board version of product

and show it to potential customers

17. Obtain requirements from customers

18. Start industrial design and packaging

19. Start manufacturing

consideration, location

20. Identify suppliers, sub-

contractors

21. Permits and Licenses

22. Finish alpha-version

of product

23. Get feedback from

customers

24. Beta-version of product

25. Start manufacture

26. Patent might be issued anytime

now!

PRODUCT


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Invention1. Notebook entry

2. Literature Survey

3. Invention Disclosure Form

4. Identify patent attorney

5. Check regulatory issues

6. Provisional Application

7. Start reduction to practice

12. Complete reduction to practice

13. Complete Non-Provisional patent

application (2-3 months)

14. Assemble team to do further work

8. Develop product ideas

9. Conduct market research

10. Identify and contact potential

sponsors for product development

11. Sign non-disclosure forms

0 6 12 18 24 30 36 42 48 Months

15. Start product

development

16. Finish bread-board version

of product (TRL 4)

17. Obtain requirements from

customers

18. Start industrial design and

packaging

22. Finish alpha-version of

product

22. Get feedback from

customers

19. Start manufacturing

consideration, location

20. Identify suppliers,

sub-contractors

21. Permits and Licenses

24. Beta-version of product

25. Start manufacture

26. Patent might be issued

anytime now!

ProductTRL 8

Invention to Product Time-Line

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