From student to entrepreneur

Graduate student breaks into biotechnology. When I joined a chemical-engineering graduate programme after working in the pharmaceutical industry, I wasn't sure whether I would ultimately return to the commercial sector or enter academia. The independence enjoyed by professors was appealing, but I wanted my work to have a direct impact on clinical practice. I've discovered that becoming an entrepreneur has the advantages of both career choices. Entrepreneurs have the freedom to direct technological development and the ability to bring a product to the clinic. The biotechnology sector intrigued me. I liked the idea of building a small, innovative company. By my third year of research, I had the basis for a new product: an antimicrobial coating for medical devices. I was fortunate to find seasoned advisers with proven track records of translating academic research into commercial applications. This was a crucial step. To evaluate what resources I'd need to turn my science into a commercial success, I entered the Massachusetts Institute of Technology's $100K Entrepreneurship Competition last autumn along with my business partner David Lucchino, an MBA student. This spring, the competition's panel awarded our company, SteriCoat, the contest's top prize. We went on to win Harvard's Graduate School of Arts and Sciences Biotechnology Competition and, in early July, Britain's Oxford Business Plan Competition. I knew that creating a biotech start-up was inherently risky given that the long development times and clinical hurdles make it difficult to attract investors. I've learned that the keys to success are finding a clear problem with an elegant and compelling solution, and pulling together an experienced team. Indeed, identifying a clear problem is my top recommendation for young researchers interested in breaking into biotech. Our product, SteriCoat, prevents infections from forming on medical devices such as catheters and heart implants. Prospective entrepreneurs should be willing to take advice and criticism from potential users and business experts. And they should seek advisers and co-workers whom they trust and enjoy working with. This not only increases the chances of success, but makes the long hours and high-pressure environment much more bearable. Christopher Loose is a fourth-year chemical-engineering graduate student at the Massachusetts Institute of Technology and future chief technology officer of SteriCoat. "Source":[ http://www.nature.com/news/2006/060717/full/nj7100-326b.html]

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