Becoming a successful innovator and entrepreneur in the medical field is a demanding venture, but the University of Colorado Anschutz Medical Campus offers valuable resources to assist researchers in their pursuit of developing groundbreaking solutions. At the recent Research Achievement Highlights (REACH) forum, Dr. V. Michael Holers, a prominent figure in the Division of Rheumatology, and Dr. Gali Baler, Managing Director of Strategy and Operations for CU Innovations, shared their expertise and experiences to inspire faculty and provide practical advice.
Dr. Holers, with over 15 years of experience in academic research focusing on the body’s complement system and its role in autoimmune diseases, highlighted the potential for researchers to have a successful academic career while also founding companies and collaborating with businesses. He emphasized the essential role of a deep scientific understanding in founding a successful company in the medical sector and shared his experiences co-founding Touch of Life Technologies (ToLTech) and its eventual acquisition of Taligen Therapeutics, a company focused on therapies for inflammatory diseases.
On the other hand, Dr. Baler emphasized the importance of translating intellectual property and expertise into tangible technologies that can benefit patients. CU Innovations provides invaluable support in protecting intellectual property, developing fundraising strategies, and ultimately bringing innovative ideas to fruition. They offer various funding mechanisms and programs to facilitate the commercialisation of technologies across different sectors. Dr. Baler also highlighted the different pathways available for researchers to bring their technologies to the marketplace, including creating companies, licensing technology to outside entities, or engaging directly with the market.
However, Dr. Baler cautioned that the journey of innovation and entrepreneurship carries significant risks, with a low success rate for technologies originating from universities. Nevertheless, he stressed the importance of persevering in the pursuit of creating better outcomes for patients.
In conclusion, the insights shared by Dr. Holers and Dr. Baler provide valuable guidance for researchers embarking on the challenging journey of becoming successful innovators and entrepreneurs in the medical field. With the support of CU Innovations and the wealth of resources available, aspiring innovators and entrepreneurs can navigate the complexities of bringing novel medical solutions to the market. Their experiences exemplify the resilience and perseverance required to succeed in this highly demanding, yet incredibly rewarding, field.