Assessing Entrepreneurial Characteristics of Healthcare Students Participating in an Entrepreneurial-Medicine Curriculum

Inspiring Student Entrepreneurship and Innovation

Background While student entrepreneurial interest is significantly correlated with the intention to pursue innovative healthcare ventures, many medical schools lack formal programs to nurture entrepreneurial skills. To investigate student interest in entrepreneurship and their experiences with medical innovation, the Biomedical Entrepreneurship Network at Rutgers Robert Wood Johnson Medical School engaged students nationally in a Healthcare Innovation Summit, featuring a keynote address, pitch competition, and interactive workshops with accomplished innovators. Methods A Rutgers electronic Institutional Review Board (eIRB)-approved survey was disseminated to student attendees at the summit, with questions categorized into four themes: interest/motivation, barriers to ideation and execution, support for innovation, and confidence in entrepreneurial pursuits. Responses were quantified using a Likert scale, and qualitative feedback was thematically analyzed. Results Among the 54 respondents, 100% exhibited a significant interest in healthcare entrepreneurship. Students cited the following barriers: inaccessible resources (44%), insufficient funding (51%), lack of mentorship (60%), and time limitations (82%). The quantitative thematic analyses demonstrated that students desired formal education on pursuing innovation and dedicated assistance to foster critical thinking. While students were confident in their ability to pursue entrepreneurship, they were not confident in the necessary details required for successful endeavors and avenues for mentorship. Conclusions Pursuing healthcare entrepreneurship presents numerous barriers for medical students. Integrating formal entrepreneurship education - emphasizing mentorship and connection between medical students and postgraduate trainees, funding, and critical innovative thinking - into medical curricula can empower students in the pursuit of innovation-based projects and positive change throughout their careers, enhancing access, equity, and quality of healthcare.

The Biomedical Entrepreneurship Skills Development Program for the Advancement of Research Translation: Foundations of Biomedical Startups course, metrics, and impact

Background/Objective

A growing number of biomedical doctoral graduates are entering the biotechnology and industry workforce, though most lack training in business practice. Entrepreneurs can benefit from venture creation and commercialization training that is largely absent from standard biomedical educational curricula. The NYU Biomedical Entrepreneurship Educational Program (BEEP) seeks to fill this training gap to prepare and motivate biomedical entrepreneurs to develop an entrepreneurial skill set, thus accelerating the pace of innovation in technology and business ventures.

Methods

The NYU BEEP Model was developed and implemented with funding from NIDDK and NCATS. The program consists of a core introductory course, topic-based interdisciplinary workshops, venture challenges, on-line modules, and mentorship from experts. Here, we evaluate the efficacy of the core, introductory course, "Foundations of Biomedical Startups," through the use of pre/post-course surveys and free-response answers.

Results

After 2 years, 153 participants (26% doctoral students, 23% post-doctoral PhDs, 20% faculty, 16% research staff, 15% other) have completed the course. Evaluation data show self-assessed knowledge gain in all domains. The percentage of students rating themselves as either "competent" or "on the way to being an expert" in all areas was significantly higher post-course (P < 0.05). In each content area, the percentages of participants rating themselves as "very interested" increased post-course. 95% of those surveyed reported the course met its objectives, and 95% reported a higher likelihood of pursuing commercialization of discoveries post-course.

Conclusion

NYU BEEP can serve as a model to develop similar curricula/programs to enhance entrepreneurial activity of early-stage researchers.