Entrepreneurship: Testing your business hypotheses

Steve Blank explains the parallels between science and start-up companies.

Contributor Ada Yee

Steve-Blank-naturejobs-blog“Curiosity is what drives both entrepreneurs and scientists,” observed Steve Blank, a serial entrepreneur, author, blogger and educator based in California’s Silicon Valley. Blank’s comparison, made at the Naturejobs Career Expo 2015 in Boston, Massachusetts during a conversation with Naturejobs editor Julie Gould, was bolstered by the appearance of several scientist-entrepreneurs that day, including Professor Robert Langer and Nina Dudnik. Gould and Blank discussed how entrepreneurial and scientific attitudes converge — but also lessons academics entering the start-up world must learn.

Parallel paths

It was partly Blank’s role as an educator—he teaches courses at Stanford, UC Berkeley, and Columbia among others—that helped him realize how the scientific process could be used to build businesses more efficiently. He began dissecting what distinguished “visionary” companies from the “98% that were hallucinating”. Continue reading

Career paths: Challenging convention

Professor Robert Langer, the 2015 Naturejobs Career Expo keynote speaker in Boston, shares the challenges he faced when becoming an academic entrepreneur.

Contributor Diana Cai 

Robert-Langer-naturejobs-blog

Robert Langer, David H. Koch Institute Professor at MIT and Keynote speaker at the 2015 Naturejobs Career Expo in Boston.

Robert Langer began by telling the audience about how, upon receiving his graduate degree in chemical engineering from MIT in 1974, he had job offers from 20 oil companies. “It’s not like I was that great or anything,” Langer says. He goes on to explain that the previous year had ended on a bad note for the oil market: the price of oil quadrupled in the span of four months, from $2.67 a barrel in October 1973 to $11.65 a barrel in January 1974. As a result, job opportunities for chemical engineers skyrocketed. He was ready to follow this path, until one of the engineers at a company said to him, “If you could just increase the yield of this one chemical by 0.1%, that would be wonderful!” Feeling uninspired and unable to contribute to society in that line of work, Langer decided to look for other options.

After applying to teaching positions at more than 40 colleges and failing to hear back from any of them, he asked himself, “How else can I use my chemical engineering education to help people? And I thought about medicine.” Langer eventually entered the laboratory of Judah Folkman, a professor at Harvard Medical School. Folkman was interested in angiogenesis, the process by which new blood vessels are formed. He had found that tumour growth is dependent on angiogenesis and postulated that inhibiting angiogenesis might be a way to halt tumour growth. Continue reading