Event Date: April 10, 2006
Classroom presentation
Invited speaker presents to a BIOMEDSHIP class

What happens when a world-class business school partners with a leading biomedical research and education institution and a major medical school?

A new wave of business-savvy researchers

A new generation of business leaders well-versed in biomedical technology

A new way of doing business.

Purdue's Krannert School of Management and the Weldon School of Biomedical Engineering are teaming with the Indiana University School of Medicine to offer an innovative graduate program designed to provide the next generation of leaders in biomedical innovation and management. These pioneers will be uniquely positioned to identify new opportunities for innovation, assess clinical and market potential, take the critical first steps in invention, patenting, early prototyping and development, and implement successful commercialization. This program, which began in January, is off to a very successful first semester.

Made possible by the generous support of the Guidant Foundation and the C. R. Bard Foundation, this novel educational program targets graduate biomedical engineering and business students, as well as medical fellows, to provide a solid foundation in entrepreneurship in the context of the medical device industry. Mentors, coaches, and expert panelists from venture capital firms, major life science companies, biomedical and biotechnology start-ups, and universities will facilitate this process.

Students who complete the program will not only be positioned to make contributions to existing medical companies, but also to work in or create start-up firms. Strong skills and knowledge in innovation and entrepreneurship are vital for success in the medical device industry, where product life cycles are short.

Medical device and product firms that participate will be uniquely positioned to assess and recruit program participants. This will provide them with the talent and leadership needed for continued market growth.

Venture capitalists who participate will benefit in at least two ways. First, they will help create researchers, physicians, and managers who understand various levels and requirements for financing. Second, they will gain unique access to novel commercialization opportunities.

If you or your organization would like more information, or to be a part of the next generation of biomedical innovation, go here or contact:

Professor Timothy B. Folta
Krannert School of Management
Purdue University
West Lafayette, IN 47907-2356