Surely bioscientists don't have to be entrepreneurial?

The first thing to remember is that aprroximately half of bioscience graduates go into careers that are not directly related to their degree and therefore may well use the entrepreneurial skills they gain at university in a range of professions. Those that stay in the broad field of bioscience do not necessarily need to be entrepreneurs. However, the bioscience industry is driven by entrepreneurial companies such as Ribotargets and Oxford Instruments and has well known entrepeneurial individuals such as Christopher Evans and Keith McCullagh. But there is also a place for people to demonstrate entrepreneurial flair within a more traditional bioscience setting. This may be in terms of designing new lab protocols, increasing the degree of recycling or introducing new methods of working.

As Ian Hughes points out in his article "Being entrepreneurial – more difficult for some?" it can be much more difficult to be an entrepreneur in practical bioscience due to the time and large amounts of money needed to build and furnish labs and then develop and market a new drug, for example. However opportunities exist to use entrepreneurial skills within large, pre-existing bioscience companies "spotting opportunities, getting them on the company agenda and developing them within the the support structures provided by the existing bioscience business".

University spin-off companies are just one example of how bioscientists can be entrepreneurial. A new product, for example a drug or technique, is developed in a university research group and private investment can then be used to fund (for example) production and marketing of the product. This is an example of how bioscientists can be entrepreneurial – through intrapreneurship. University spin-off companies can be highly successful, with the total value of UK university spin off companies floated on the stock market in 2004 valued at £604 million. Some examples of these university spin-off companies are: ARK Therapeutics, who specialise in 'healthcare products targeted at specific unmet clinical needs within vascular disease and cancer' and Andor Technology, who develop digital imaging solutions including imaging and spectroscopy cameras.

The Biotechnology and Biological Sciences Research Council has its own business and innovation unit and supports the Young Entrepreneurs Scheme. This underlines the importance attached to entrepreneurial skills. Many organisations like self motivators, people who are able to manage their own time, are capable of thinking outside of the box, but at the same time get the job done. And contribute to the success of an organisation

For some case studies of entrepreneurial bioscientists and bioscience companies see the Global Entrepreneur Programme section of the UK Trade and Investment web pages. A variety of examples of successful entrepreneurial bio-tech firms are given, including university spin-off companies, and the case studies outline how the companies were able to obtain grants and investments and the experience of the entrepreneurs behind the company. The companies include: Acolyte Biomedica Limited, who develop proprietary diagnostic systems for clinical microbiology; Purely Proteins limited, who purify suites of human proteins as both drug targets and bio-therapeutics; and Advanced BioNutrition Europe Limited, a lifesciences company that develops new products and technologies in the area of functional nutrition.

So, do our degree programmes already promote entrepeneurship?

Resources:

The article Inventor Capitalists in the Education Guardian (1st March 2005) outlines the business aspects of university spin-off companies.