The University of California-Los Angeles (UCLA) has launched a new and very comprehensive entrepreneur-in-residence (EIR) program to help researchers step from the realm of academia into the world of business ventures.
Launched by the UCLA Office of Intellectual Property and Industry Sponsored Research (OIP-ISR), the EIR program will bring in CEOs, CFOs, investors and other major players to help mentor faculty members who are considering taking their discoveries to market.
“There’s a huge learning curve when it comes to understanding the business,” says Michael Jung, organic chemistry professor at UCLA and co-inventor of Xtandi, a prostate cancer drug that hit the market last fall. “I could’ve certainly used guidance from people with experience,” he says, calling the EIR program “an extremely valuable asset” to UCLA and its researchers.
Each entrepreneur-in-residence will work at least one day a week, either on campus or remotely, and will hold open office hours to consult with faculty, postdocs, and students. The entrepreneurs will go unpaid. According to Thomas Lipkin, assistant director of entrepreneurship and new ventures at OIP-ISR, they simply want to give back to the community and move innovation forward. The entrepreneurs-in-residence will be introduced to the campus community on April 11th.
Source: UCLA Today