The Entrepreneurial Bug

By Alan Kotok

Whereas some budding entrepreneurs start a company so that they can be their own boss or get rich quick, scientists usually have a different motivation: to transform their research findings into products or services that help people. This is what motivated three academic researchers who talked with ScienceCareers about how they started their own businesses, and how other scientists can do the same.

Starting a new business is not for everyone. The move involves financial risks, for you, for others, or for both. Budding entrepreneurs need to learn the language of finance, marketing, and business strategy. And it can be challenging to balance entrepreneurial activities–which can often be time-consuming–with continued academic responsibilities.

But the three entrepreneurs we interviewed didn’t face these challenges alone, nor will most other researchers considering a business start-up. Many academic institutions encourage researchers to commercialize their findings while maintaining their academic posts. And if the experience of these three scientist-businesspeople is any guide, academic researchers can find support (including financing) in their own communities.

Read More: http://www.sciencemag.org/careers/2009/10/entrepreneurial-bug

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