Scientific Entrepreneurship in the Materials and Life Science Industries

Abstract

Scientists constantly generate great ideas in the laboratory and, as most of us were meant to believe, we should publish or perish. After all, what use is a great scientific idea if it is not shared with the rest of the scientific community? What some scientists forget is that a good idea can be worth something – sometimes it can be worth a lot (of money)! What do you do if you believe that your idea has some commercial potential? How do you turn this idea into a business? This chapter gives the aspiring scientific entrepreneur some (hopefully) valuable advice on topics like choosing the right people for your management team, determining inventorship of the technology and ownership shares in the new company, protecting your intellectual property, and others; finally, it describes some of the various pitfalls you may encounter when commercializing an early stage technology and instructions on how to avoid them.