Educating the Next Generation of Biotechnology Managers and Founders
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Traditional education paths don't sufficiently train individuals to manage or start biotechnology enterprises. What solutions can fill this vital need?
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Educating the Next Generation of Biotechnology Managers and Founders
- 1. Educating the Next Generation of Biotechnology Managers and Founders Pittcon March 1st 2010 Yali Friedman, Ph.D. – info@thinkbiotech.com
- 2. Challenges Traditional biotechnology educational paths are not oriented at developing practitioners PhD: Academic research poor understanding of business MBA: Management, strategy, finance poor understanding of science The biotechnology industry is dynamic Can educational programs keep up with change? How can graduates stay abreast of new developments?
- 3. Why have PhDs been so successful in biotechnology? PhD: Ability to solve hard problems, independently Often accompanied by a risk-averse, reductionist, mindset There has to be another way…
- 4. Can you Cross-Train Students? Do you really need a PhD to manage a biotechnology company? MS/MBA Programs Combine research with business training “I’m no good at the lab work, why do I have to do it?” The objective is not to train you as a scientist, but to provide you, as a future manager, an understanding of science
- 5. Asking the right questions JHU MS/MBA Proseminar course Train students to think like journalists Prepare a 1 page summary on a recent industry report (newspaper, journal, etc) What is the key issue, and why is it important What has changed What does it mean Prepare 3 questions for each speaker This is a life skill: You should be able to ask three intelligent questions of everyone you meet Group project Marketing, R&D management, finance, etc.
- 6. Working on real problems KGI Team Masters Project Final project in second year Team of students, under faculty supervision, deliver a solution to a real problem Company sponsorship is $50,000 Ensures that the problem is real and important, and that students will be pushed to deliver
- 7. NIH FAES Graduate School Students are mainly NIH post-docs Intelligent, inquisitive, want to learn business High-speed, deep, overview of biotechnology industry Focus on cases, provide textbook for background reading Guest lecturers Introduce a diverse set of local industry practitioners Students are independent and inquisitive – don’t need prodding to ask questions!
- 9. Guest lecturers Focus is on learning about the person, not their job Large and small biotechnology companies Which environment suits you? Mid level executives “I’ve had a different business card every year” Service vs. product firms Unique challenges for each No scientific background Career path from Phillip Morris to proactive regulatory consulting
- 10. NIH FAES Graduate School Final Deliverable Essay on a topic of the student’s choosing Funding opportunities, build vs. buy decisions, etc. http://www.biotechblog.com/2009/05/27/biotechnology-management-papers/
- 11. Continuing education in biotechnology The industry is dynamic, but there are no formal training requirements Continuing education is a personal responsibility, must be self-directed Journal of Commercial Biotechnology 14(4), 275-276 Free online: http://www.palgrave-journals.com/jcb/journal/v14/n4/full/jcb200830a.html
- 12. More questions than you came in with? The biotechnology industry is dynamic Keep Learning! Yali Friedman – info@thinkbiotech.com