I’ve always been the person in the room who looks for a better way to do something. Seeking to understand how things work has always been a part of that process; ever since I was an undergraduate I’ve been involved with medical research (specifically in cardiovascular medicine) trying to learn how the heart functions, and how to re-build and re-shape it when it gets sick. As I proceeded through medical school and surgery residency, I continued to participate in both of these basic science investigations as well as conduct clinical research on real patients, trying to figure out the best way to get what I was learning in the lab to the clinical bedside. I even went as far as obtaining a Master’s degree in clinical research, learning how to design important clinical trials to change the way we practice medicine. But I was still stumped... I just never saw those important discoveries and devices we were making in the laboratory translating into clinical practice.
That is until I was introduced to the world of entrepreneurship! When I enrolled in the Medical Product Innovation program at the Swanson School of Engineering, I was introduced to the concepts that would help make my research discoveries a reality. I was fortunate enough to participate in several student entrepreneurship events sponsored by the Big Idea Center that allowed me to develop the skills necessary to communicate my problems, solutions, and opportunities to new audiences, most importantly the general public and more specifically investors and business leaders. Events such as the Big Idea Blitz, the Randall Family Big Idea Competition (RFBIC), and the Blast Furnace student accelerator have helped me hone these new skills that would allow me to turn my research concepts into actual products, and even businesses!
The RFBIC specifically was a major driver through this learning endeavor. I actually took THREE teams into the competition and pitched in the finals for each: OneValve, a tissue-engineered heart valve concept; AIHx, an AI medical transcription solution; and Cuts Above the Chest, a novel chest drainage system for fluid on the lungs. The RFBIC focused on scoping out customer problems and needs, refining a business model for your proposed solution, and presenting the whole package in a structured pitch to a panel of business leaders. Going through this process and making the finals with three very diverse teams and ideas was daunting, but the skills I acquired and the relationships I formed with both my teammates and the Big Idea Center entrepreneurs in residence were WELL WORTH THE EFFORT. In the end, our OneValve team placed second in the competition and is working towards commercialization of our heart valve technology, which you can learn more about here. Our AIHx team subsequently completed the Blast Furnace program and has pivoted to a new AI healthcare application that looks to be very promising. Overall, the lessons of the RFBIC and all the Big Idea Center programs were instrumental in making these ideas a reality.
So, if you are an undergraduate or graduate researcher sitting in the lab right now wondering how in the world will you ever make that science experiment into a consumer product or a health care revolution, then the skills of entrepreneurship and the RFBIC are a great fit for you! If you aren’t stuck in the lab for 12 hours a day, don’t worry; there are plenty of other problems to be solved. Find your problem and big idea today and take it over to the excellent team at the Big Idea Center and learn how to make it a reality! Transforming an idea into a business can seem intimidating, but programs such as the RFBIC can facilitate developing these skills while you are still a student and will be applicable no matter what your future holds. Plus, it’s FUN!
Are you ready for Randall? Apply here. Applications are due by 11:59 PM on February 7, 2020. All team members must apply, not just the team lead!