Understanding the Biotech Business Industry as a Scientist

Updated: Jul 29, 2019

At a young age, I developed a passion for science and the business industries. As a PhD candidate at University of North Texas Health Science Center (UNTHSC) in Fort Worth, Texas I have the exciting opportunity to learn about the business industry while pursuing a doctorate degree in Biomedical Sciences. Thanks to the UNTHSC Research and Innovation, I had the opportunity to attend the 1st Annual Investing in BioTech "What if you could change the future?" Conference on May 16, 2019 at UNTHSC.

The morning session of the conference began with opening remarks from the UNTHSC President Dr. Michael Williams. Next the 1st Firestarter was led by Les Kreis, Bios Partners, who discussed "The Differences in Investing in Life Sciences versus Other Industries". The 2nd Firestarter was led by Mike Stoltz who discussed "The Problems Facing Today's Healthcare System That Startups Can Solve". The morning session ended with inspirational words and a discussion about "Building Life Sciences Startups and Investing in Next Generation Medical Device and Pharma Companies" from John Adams, the founder of Mucinex® and President of J.Q. Enterprises, Inc., and from David Chappell, the co-manager of BC Collaborations, LCC.

As an entrepreneur and graduate researcher, my decision to attend the conference to learn about the business aspects of biotech and life sciences, receive advice from entrepreneurs in biotech, and learn about the early stage of startup investing has broaden my understanding of the Biotech Industry and has encouraged me to invest in biotech startups.

"Such investments offer the chance to make an extraordinary difference in the world. With a life science or biotech start-up, you’re investing in something that could potentially cure a disease. You have the added benefit of helping humanity and not just making big returns." -Cameron Cushman, Director, UNTHSC Innovation and Ecosystems.

Key notes to Entrepreneurs & Investors:

1. Prepare for a longer timeline to success than expected

2. Be patient for you may run into unforeseen obstacles and setbacks

3. Be prepared to accept and give counseling and support

4. Do not be afraid to seek outside advice from experienced professionals

5. Learn and use the expertise of your investors

6. The Health care and Medical industry complex is filled with opportunities for startup companies

Special thanks to:

Dr. Robert McClain

Associate Vice President of Research and Innovation at UNTHSC

Mr. Cameron Cushman

Director of Innovation Exosystems at UNTHSC