In keeping with an emerging literature on the role of business education in the development of entrepreneurially-intentioned biotechnologists, this paper describes the actions and experiences of an entrepreneurship program that began in the late 1990’s. Along the way it illustrates how a business-centric approach can shift the budding entrepreneur’s perspective from a product to a market orientation when considering an innovation’s commercialization. While the developmental timeline and specific stages of the adoption process for biotechnology-based products vary from traditional consumer or industrial products, there many similarities, foremost is the notion that to be successful the market must perceive significant advantage to the new offering. Lastly, this paper provides thoughts on potentially profitable areas for program expansion and new foci, especially regarding the globalization of biotechnology innovation and international opportunities. Full details at the Journal of Commercial Biotechnology
The convergence of ubiquitous smartphones, wireless Internet, and low-cost monitoring devices, is driving the emergence of a new world of digital health. At the same time, cost pressures on healthcare are creating demand for new ways to not just improve the way patients receive information and care and the way doctors provide it, but fundamentally change the way they interact with each other. The article discusses a venture capitalist's approach to investing in the sector.
Full details at the Journal of Commercial Biotechnology
The mission of the Food and Drug Administration (FDA) is to promote public health by ensuring the safety and quality of food and medical products sold in the United States. At this year's annual Biotechnology Industry Organization (BIO) convention, significant discussion revolved around the appropriate interpretation and execution of that mission.
The BIO meeting hosted 15 646 participants from across industry, government and the nonprofit sector, focusing on the current state of the biotechnology industry, as well as its challenges in seeking to further improve public welfare. Perhaps partly because this year's meeting was held in Washington, DC – the seat of the federal government and of BIO's headquarters – much attention was paid to the US regulatory environment. In particular, attendees debated the quandary faced every day by the FDA: how to enable access to novel therapies quickly, but only once their safety has been certified. Full details at the Journal of Commercial Biotechnology