Students: Be Relevant!

Speaker: Humera Fasihuddin, NCIIA (www.nciia.org)CURE REU Program 2010, NSF

Integrated Sciences CenterUniversity of Massachusetts Amherst

http://www.youtube.com/watch?v=a45dXztokZMA completely irrelevant, but funny chemistry video to start this talk:

Basic Research Translation

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Basic Research Translation:We need results sooner.

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Our nation’s competitiveness is at stake.

Population Growth

http://commons.wikimedia.org/wiki/File:Population_growth_rate_world.PNG(Population growth rate, as listed on [http://www.cia.gov/cia/publications/factbook/fields/2002.html CIA factbook]

% Growth

Climate Change

Impact on all of Earth’s inhabitants

Population growth will have most pronounced impact on world’s poor

% Population Living on <$2/day

Health Care Costs Spiraling

https://forms.house.gov/herger/issues_WMhealth.shtml

Obesity Epidemic, just one example (common denominator to diabetes, heart disease, cardiovascular disease, hypertension,

kidney disease)

Big companies don’t have all the answers

U.S. economies, jobs &competitiveness at risk

Do something to help the world today.

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Invention vs. Innovation (Wikipedia)

• An invention is a new configuration, composition of matter, device, or process. Some inventions are based on pre-existing models or ideas. Other inventions are radical breakthroughs which may extend the boundaries of human knowledge or experience.

• The term innovation means a new way of doing something. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations. A distinction is typically made between invention, an idea made manifest, and innovation, ideas applied successfully.

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Invention vs. Innovation (Humera)

• An invention is a new thing.

• The term innovation means it actually changes the way people do things.

“It don’t mean a thing unless it has impact.”

Where does your research have relevanceWhere does your research have relevance?

Collegiate Innovators

Ecovative @ RPI

Green replacement for polystyrene

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Rotovirus Vaccine @ Johns Hopkins

Vaccine on a ‘breathstrip’ enables developing world vaccination without refrigeration

Whole Tree @ Baylor

Create green products commercial markets.Indirectly alleviating poverty amongst coconut farmers across globe.

Liquidia and Micell @ UNCNovel chemistry used for

gene therapy, drug delivery & medical devices

Faculty lead, but many graduate students on team.

Ablitech @ Southern Miss

Polymers enabling targeted drug delivery direct to cancerous tissue.

Natalie and Jeff Agar @ Harvard and Brandeis

Enabling 3D high-res imaging of in-tact tumor tissue using Mass Spec

Redwood Biosciences @ Berkeley

Lighting up sugars surrounding cells still in the body, to deliver optimized novel biotherapies.

Faculty lead, but many graduate students on team.

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Advantages to Innovating in College

Bootstrapped Existence: no mortgage, car loans, big student bills

Access: laboratories, professors, world thinkers, conferences

Market: closeness and understanding of Generation Y issues, ideals, interests

OK, I’m Convinced. What’s next.

Market Pull Market Push

• Look for problems you want to solve

• Look for problems solved by your solution (or other’s)

• Develop an intellectual property strategy

• Think of all possible ways to solve that problem

• Pick one and work on it

• Develop an intellectual property strategy

OK, I’m Convinced. What’s next.

• License to big company• License to startup

• Venture– Play a central role– Play an advisory role

The key, often times, is the IntellectualProperty strategy.

Factors for SuccessIf Graduate Track, value in

cultivating venture skills.Why? Attracting funding. Guiding

students.How?

– Find supportive research advisor– Find supportive institution– Cultivate relationship with tech

transfer, et al– Find good venture mentors– Attract best and well-rounded

team…keep your eye’s open to market

opportunities.

If Job Market, cultivate venture skills to be most valuable to hiring companies.

Use your undergraduate years to cultivate venture skills.

How?– Find off-the-shelf license or

new venture opportunity– Build well-rounded team– Articulate proposition– Raise funds– Develop value– Job, acquisition, learning, etc.

There are resources to help you…

• On Campus– Tech Transfer Office– School of Management– School of Law– Entrepreneurs in

Residence– Business Plan

Competitions– Seed Funds

• Off Campus

–SBIR/STTR funding

– Angel Networks, Venture Capitalists

– Mentors and Advisors– Regional Technology

Associations– State Funds– Other Campus Competitions– NCIIA (funds, workshops,

competitions)

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College Challenges NCIIA Resources• Money• Skills• Experience• Credibility• Network

• NCIIA Grants $20K• NCIIA I2V Workshops– Advanced– Introductory

• NCIIA Mentoring• NCIIA VentureWell

www.nciia.org

Innovate.

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Thank you. Q&A.

humera@nciia.org