Entrepreneurship beyond the lab: commercializing your creative outputs.

Abstract

Scientists invest years and decades in research discoveries that may lead to important life-saving technologies that benefit humanity. However, many of these researchers may not be familiar with determining whether their ideas can be turned into a viable product and made sellable. Educational programs such as the National Science Foundation I-Corps Program and I-RED from the National Institute of General Medical Sciences at the NIH support this shift toward faculty gaining greater entrepreneurship knowledge. These programs provide additional preparation for faculty, particularly in specialized business information and entrepreneurial skills. Despite the importance of commercialization training, few post-doctoral and faculty members in life sciences receive formal education in intellectual property, entrepreneurship, and research commercialization. Accordingly, this article aims to provide a guide to help start or facilitate the entrepreneurial journey to support the commercialization of their creative outputs. The article provides a timeline of events from idea discovery to technology commercialization, translating academic skills into entrepreneurial careers, understanding the entrepreneurial ecosystem, and discussing the pros and cons of entrepreneurship for scientists. The article emphasizes the need for academic researchers to gain knowledge in research commercialization and entrepreneurship to impact and benefit humanity beyond the laboratory.