Sir Richard Roberts – The ordinary behind extraordinary October 4, 2011
Posted by TiE Boston- "The Network for Entrepreneurs" in General, Life Sciences & Healthcare, Uncategorized.Tags: Biochemistry, bioinformatics, Biology, computer, experiment, experimentation, gene splitting, genome, legends & leaders, Legends and Leaders, life science, Newton Marriott, Nobel Laureate, Nobel Prize, Nobel Prize in Physiology or Medicine, Oct 18 2011, Sir Richard Roberts, speaker tie, success, successful, TiE, TiE-Boston
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How cool is it to be in the presence of a Nobel Laureate? Well our next big speaker is Nobel Laureate, Sir Richard Roberts! It is not that often that one gets the chance to hear, meet, and speak to someone who is not only known all over the world but has also been knighted by the Queen of England for his accomplishments. Let us not forget though that Sir Richard Roberts is first and foremost a person just like us.
Richard Roberts did not grow up thinking “I am going to be a Nobel Prize winning scientist.” Instead, he dreamed of being a detective. That probably came from his love of puzzles and logical thinking, which his school headmaster encouraged and fostered. Like most extraordinary people, he also had that one major event that would change the course of his life; he received his first chemistry set as a gift. Playing with his set and discovering fireworks and experiments eventually led him to the realization that he wanted to be a chemist. Just because he had a passion for chemistry, did not mean that he actually enjoyed studying the sciences. In fact, he despised not only chemistry but also biochemistry. He even failed A-level Physics during his first attempt. Aside from learning science in his own way, he also loves playing chess, billiards, and video games! So you see, he is not so different from many of us.
I am not saying that we should not be in awe of all the amazing achievements he has made for the science field because we should be. I am just pointing out that to this extraordinary man, there is another side; an ordinary side that all of us can relate to. We should use this knowledge as inspiration to be innovative in the work we do. If a man like Roberts, whose childhood dream was to be a detective, can go on to becoming a Nobel Prize winner in Physiology or Medicine, then anyone who has had a passion and big dream should be able to accomplish what they believe in.
Come out to the Newton Marriott on October 18, 2011 to hear Sir Richard Roberts talk about “Genomes, Computers, and Experimentation in Biology.” For more information, click here.
Dr. R.A. Mashelkar to speak at TiE-Boston’s Legends & Leaders Event September 29, 2011
Posted by TiE Boston- "The Network for Entrepreneurs" in Entrepreneurship, General, Life Sciences & Healthcare, News and Views, Technology, Uncategorized.Tags: breakthrough technology, engineering, entrepreneur, Entrepreneurship, idea, India, Indian scientist, Innovation, intellectual property rights, IPR, legends & leaders, Legends and Leaders, life science, low cost, Masheklar, mit, product innovation, R.A. Mashelkar, science & technology, speaker tie, Technology, TiE, TiE-Boston
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On October 4, 2011, eminent scientist and scholar, Dr. Raghunath A. Mashelkar, will be speaking at MIT’s Sloan School of Management about Innovation’s Holy Grail: Getting More from Less for Many.
Ever imagine a new car for under $2000, a refrigerator for $69, or even a cataract surgery for $30? Probably not. But thanks to Mashelkar’s push to innovate through clever engineering, even the most expensive products have been brought into the realm of the possible for everyone.
He has been propagating a balanced culture of innovation and intellectual property rights for over a decade. His efforts led to the growing awareness of Intellectual Property Rights (IPR) in India. He successfully challenged the US patents on Basmati rice, Turmeric and Neem, setting up new paradigms in the protection of traditional knowledge base which led to the set up of India’s first Traditional Knowledge Digital Library.
Thanks to Mashelkar, using ancient recipes that have been passed down from mother to daughter for generations does not fall under patent infringement. Just like Gandhi stood up to the British against tax on salt, Mashelkar stood up to the corporations trying to patent Indian staple items. Maybe that’s why his model for innovation is called “Gandhian engineering.”
Mashelkar has said that India is the land of ideas and the US is the land of opportunity. It is no surprise then that he would take such an active and critical role in shaping India’s reform policies in Science & Technology, Auto Fuels, IPR, Telecom and Higher Education in order to change India from the land of ideas to the land of opportunity.
To hear from a man who overcame poverty to become one of the most decorated Indian scientists with over 50 awards and medals at national and international levels is sure to make you think and maybe even inspire you to innovate in a new way.
Don’t pass up the opportunity to hear Mashelkar discuss innovation and creating breakthrough technologies on October 4 at MIT.
TiE Boston Launches TiE Angels Investment Group January 25, 2011
Posted by TiE Boston- "The Network for Entrepreneurs" in Angel investing, CleanTech and Energy, funding, General, Life Sciences & Healthcare, News and Views, Software & Services, Wireless & New Media.Tags: angel investing, angels, business plan, Entrepreneurship, idea, investment, seed capital, startup entrepreneur, TiE Angels, TiE-Boston, venture capital funding
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TiE Angels to Provide Entrepreneurs with Start-up Capital and Strategic Support
BOSTON, MA – January 25, 2011 – TiE Boston, a nonprofit organization that fosters entrepreneurship in the New England area, today announced the launch of TiE Angels, an angel investment group comprised of charter members of TiE Boston. TiE Angels’ mission is to provide entrepreneurs access to seed capital and ongoing strategic and operational support. Entrepreneurs are encouraged to visit TiE Angels website (www.tieangelsboston.com) to submit their business plans for investment consideration.
According to the latest Money Tree Report, venture capital funding increased by 19 percent in dollars and 12 percent in the number of deals in 2010 over the prior year, the first such annual increase since 2007. However, according to the most recent data released by the University of New Hampshire’s Center for Venture Research, angel investors across the country put much less money into startup deals during the first half of 2010 than they did in 2009 or 2008. The study found that in the first half of 2010, 65 percent of membership in angel groups were “latent” angels, or individuals who have the necessary net worth but have not made an investment — an increase of non-participation from 2009 of 54 percent and 36 percent from 2008.
“Increased VC funding is a good sign for entrepreneurs and the economy, but angel investing still hasn’t picked up yet and entrepreneurs are having a difficult time securing funding in the current economy,” said Abhishek Jain, chair of the TiE Angels steering committee. “With TiE Angels our goal is to help promising early stage companies, particularly those in the Northeast, bridge the gap between innovative ideas and successful operational companies. TiE Angels is a natural extension of TiE Boston’s primary goal of fostering entrepreneurship. Now, in addition to all of the entrepreneur-related mentoring and events TiE already provides, we are enabling start-ups to launch with initial capital.”
Members of TiE Boston include successful entrepreneurs, top executives of Fortune 500 companies, Venture Capitalists, academicians, analysts and policy makers. TiE Boston charter members have founded or head some of the best known businesses in their respective industries. The 35 founding members of TiE Angels have significant financial and experiential resources to invest in promising new ventures.
“As an investor and an entrepreneur, I’m thrilled to be part of TiE Angels to help finance, advise, and take a bet on other promising entrepreneurs in the area,” said Ramesh Motwane, TiE Angels steering committee member. “Our economy depends on the innovation and fresh ideas that entrepreneurs provide. TiE Angels’ expertise and flexible operating structure will allow us to move quickly to seed fund the next great business ideas.”
TiE Angels plans to invest in a range of early-stage companies, with priority given to those in the following sectors: healthcare, clean-tech, Internet/digital media, mobile, software, financial technology, technology-enabled services, and communications. The group expects a typical angel investment to be approximately $500,000, but they can syndicate up to $2 million.
TiE Angels aims to provide a forum for innovative companies to present their ideas and to attract funding from an accomplished group of individual investors. Entrepreneurs seeking capital may submit their plans to TiE Angels at www.tieangelsboston.com to enter the evaluation process.
For more information, visit the TiE Angels Website at: www.tieangelsboston.com
About TiE Angels
TiE Angels is an angel investment group of TiE Boston. The mission of TiE Boston is to foster entrepreneurship through Networking, Mentoring and Education. TiE plays a critical role in bringing together investors, entrepreneurs, service providers and public organizations to create an eco-system that fosters the genesis of great companies. TiE-Boston launched TiE Angels to provide entrepreneurs and start-ups with much needed seed capital and the support that they need to get to the next level. TiE Angels is governed by a Steering Committee.
TIE ANGELS is not a venture fund, an investment bank, a broker/dealer, investment clearing-house, or an Investment advisor, but rather a forum in which investors may be educated on aspects of investment and business, as well as be introduced to companies for possible investment. TIE ANGELS is not registered with the Securities Exchange Commission or any state securities commission. Each member of TIE ANGELS is responsible for his or her own investment decisions, and TIE ANGELS is not recommending any particular company for investment. Investors must conduct their own due diligence and negotiate the terms of any investment they elect to make.
Media Contacts:
John Isaf
Weber Shandwick
(617) 520-7056
Vanita Shastri
TiE Angels
(781) 272-3875
Bob Langer speaks at TiE-Boston’s Legends & Leaders Event November 24, 2010
Posted by TiE Boston- "The Network for Entrepreneurs" in General, Life Sciences & Healthcare, Uncategorized.Tags: AIR, Alkermes, BIND Biosciences, bob langer, Breakthrough Medical Technology, Charles Stark Draper Prize, drug delivery, entrepreneurs, Enzytech, Langer, legends & leaders, Legends and Leaders, life science, MicroCHIPS, Millennium Prize, mit, Momenta, Robert S. Langer, TiE, TiE-Boston, Transform Pharmaceuticals
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On October 26th, 2010 Boston area entrepreneurs, researchers and students had the opportunity to hear Prof. Robert S. Langer of MIT speak at a Legends & Leaders event hosted by TiE-Boston. Over 120 people with standing room only packed into the Newton Marriot ballroom as Langer spoke about Creating and Implementing Breakthrough Medical Technologies and the key ingredients to building successful life science companies.
Langer’s presentation was structured on his scientific discoveries and innovations and how these were the centerpiece of launching companies. Langer, a 30 year veteran of developing drug delivery systems, admitted that his path was not without challenges. Early in his career senior scientists and peers were skeptical of Langer’s experimental results. He was told, “You cannot do that.” But convinced of the scientific rigor and truth in the substance of his research, Langer pursued and filed for his first patent in the 1970’s. The patent process was arduous but Langer persevered and got his first broad scope patent that helped launch his entrepreneurial journey.
One of the stellar examples Langer cited was from his research on drug delivery systems approach for large (biological) molecules, which was against the scientific belief of the time which accepted such delivery systems to be only applicable to small (chemical) molecules. The early research in this case was from his post-doctoral work with Professor Judah Folkman, wherein they had explored novel methods for drug delivery with large molecules. It took an immense effort to get this technology accepted and patented, finally resulting in a broad blocking patent that was filed and led to the successful culmination in starting a biotech enterprise (Enzytech).
Ever since, Langer has had remarkable success at being an innovator, scientist and entrepreneur. He shared his experiences as a founder and the challenges he faced in taking breakthrough technologies from the research lab to the market. The initial resistance by the scientific community to his discoveries and his methodology only made his conviction grow stronger.
He perfected the model of getting the science right, then spinning off a company with graduate students, post-docs, and colleagues; helped and funded by venture networks to build real value for all stakeholders. In specific, Langer spoke about revolutionary inventions that were transformed into companies including Alkermes, Momenta, MicroCHIPS, Transform Pharmaceuticals, BIND Biosciences, AIR and others.
Langer’s entrepreneurial journey and his work offer key takeaways and lessons not just for Life Science entrepreneurs but for all entrepreneurs:
1. Faced with an industry or academic myth, do not give up.
2. Persevere
3. Academic excellence is a must.
4. Scientific research must have sound fundamentals.
5. Patent it, if rejected, don’t give up, work on it and get a broad based patent approved.
6. Scientific findings should be subjected to good peer review, both in publications and patent estate (examples of his such a company was Enzytech/Alkermes – now just Alkermes).
7. Publish your findings in respected trade journals.
8. Creating new solutions through scientific rigor will defy myths, which goes to the essence of entrepreneurship (examples of such a company are AIR and Momenta).
9. Entrepreneurship opportunities are presented through identification of a scientific problem.
10. Entrepreneurs figure out creative ways to work towards a solution (examples of such a company were MicroCHIPS and TransForm).
Langer highlighted that companies are successful when helmed by a champion who believes in the technology and/or solution and knows that it’s going to work. In that context smaller companies are better for innovation; as it’s easier to push through new and innovative ideas to see the light of day. Large companies are not great harbingers of Intrapreneurship. He emphasized that struggle for funding is common, so entrepreneurs should tap into both public and private or hybrid funding mechanisms for creation and advancement of new technologies.
Langer, who is a pioneer in biotechnology fields of drug delivery systems and tissue engineering, holds more than 600 granted or pending patents and has authored over 1,100 scientific papers. He has commercialized his research into products and founded multiple successful technology companies. To name just a few of his other accomplishments, he won the Charles Stark Draper Prize, the Millennium Prize and over 180 other awards. At MIT, Langer runs the largest biomedical engineering laboratory in the world. Langer imparted valuable lessons to entrepreneurs on what it takes to commercialize research and build a leading company in medical technologies arena at this TiE-Boston event.
NPR Host Tom Ashbrook speaks to athenahealth Inc. CEO, Jonathan Bush May 7, 2009
Posted by TiE Boston- "The Network for Entrepreneurs" in Life Sciences & Healthcare.Tags: Entrepreneurship, Healthcare costs, Medical Devices, TiECON East
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Sustained Innovation leads to Sure Success |
President Obama says over the next five years he wants all medical records digitized.NPR Host Tom Ashbrook speaks to athenahealth Inc. Co-founder, Chairman and CEO, Jonathan Bush, a visionary Healthcare IT entrepreneur. athenahealth is the IT backbone of the medical industry. James Altucher, Founder, Stockpickr.com, named athenahealth as one of the top 3 health tech choice stocks to own!
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70% of health care costs in the US are generated by 10% of patients, most of whom have one or more chronic diseases May 7, 2009
Posted by TiE Boston- "The Network for Entrepreneurs" in Life Sciences & Healthcare.Tags: Entrepreneurship, Healthcare costs, Medical Devices, TiECON East
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HEALTHCARE
Did you know? 70% of health care costs in the US are generated by 10% of patients, most of whom have one or more chronic diseases
“Healthcare Stimulus Plan: Setting the course for IT innovation” panel in the LIFE SCIENCES TRACK features Tom Lee, Network President, Partners Healthcare, an integrated health care system that offers patients a continuum of coordinated high-quality care.
In Conversation with P.(Laxmin) Laxminarain – WW President of Codman & Shurtleff (a J&J Company) by Rajit Kamal April 29, 2009
Posted by TiE Boston- "The Network for Entrepreneurs" in Life Sciences & Healthcare.Tags: Entrepreneurship, Medical Devices, TiE, TiECon
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Laxmin is the WW president of Codman & Shurtleff which focuses on the global neurosurgical market. Laxmin has been with J&J for over 20 years and has held positions of increasing responsibility in marketing and general management. He has worked in India, Singapore, South Korea and the United States. He also sits on the DePuy Global Management Board.
Following are his comments on Entrepreneurship, TiE, TiECon and the trends in the Medical Devices industry. Laxmin is a Charter Member of TiE and is the sponsor (through DePuy) of the Medical Devices panel at TiECon East 20009.
These are Laxmin’s personal views and don’t represent the views of DePuy or Johnson & Johnson.
Entrepreneurship:
Entrepreneurship is the engine of growth in any economy. Entrepreneurship thrives on innovation, risk taking and the passion of people who dream big and refuse to accept “No” as an answer. You don’t have to work in a start up to be an entrepreneur. Entrepreneurship is more of a mindset. People with entrepreneurial spirit exist at all levels in big and small companies and play an important role in their organizations.
J&J is structured in a unique way. It is a big company but has de-centralized operating companies within it which keeps the entrepreneurial culture alive. Each of the DePuy companies, DePuy Orthopedics, DePuy Spine, Codman and Mitek have entrepreneurial beginnings and strive to maintain a customer insight focused management style.
Startup companies play a critical role in bringing life saving innovation in the Medical Devices industry. Big devices players such as J&J are constantly looking at technology coming out of small companies and aspire to working with them to bring these technologies to market.
TiE
TiE is an enabler of entrepreneurship. Creating an environment conducive for entrepreneurship is in a way paving the path for innovation and economic growth, two essential elements of any 21st century economy.
TiE brings together aspiring entrepreneurs with Venture Capitalists and creates an environment where they work together to create successful companies. TiE’s activities range from panel discussions and speaker events to entrepreneurship workshops, which are very informative on trends in different industries and what it takes to be an entrepreneur.
TiE mentoring program is a great opportunity for a budding entrepreneur to work with an experienced professional and hone his/her business skills.
The TiE membership is an excellent group of people who are at the vanguard of innovation and entrepreneurship.
TiECon
TiECon is a unique conference that brings together people from four different sectors: Life Sciences, Clean Tech, Information Technology and Social Entrepreneurship. The panel discussions are of a very high quality and it is a great place to meet and network with likeminded people who are passionate about building successful companies.
This year’s conference on “Sustainable Innovation” addresses the core question about what it takes to build an enduring company. We have some many examples of start ups with what seem like great ideas go under. Innovation is not just about doing things differently or a coming up with a new idea. It’s about being able to execute these effectively and to nurture them through good times and bad.
The Medical Devices panel has great panelists who bring different perspectives: VC, Academic, Regulatory Person, Physician and a corporate investing. It promises to be an engaging discussion about the opportunities and challenges in the Medical Devices industry.
Trends in the Medical Devices Industry
Healthcare debate in Washington could bring major changes in the Medical Devices industry. The focus on Evidence Based Medicine and Comparative Effectiveness data for regulatory and reimbursement approval would not only put the patient at the center of innovation but would also raise the bar for “sustainable innovation”. It would create interesting opportunities for entrepreneurship and could mean closer collaboration between start ups, VC’s, and big companies in the future to foster innovation and bring them to market in a timely fashion.
Medical Device industry will continue to be an exciting industry for people who are driven by wanting to make a difference in people’s lives and who thrive in an innovative and entrepreneurial environment.
You can also read this blog at http://rajitkamal.blogspot.com
Innovation ideas in Medical Devices at TiECon April 16, 2009
Posted by TiE Boston- "The Network for Entrepreneurs" in Life Sciences & Healthcare.Tags: Entrepreneurship, Innovation, TiE, TiECon
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Innovation is the engine of growth for any industry. In general, the labs at academic institutions, R&D from big private enterprises and government sponsored research centers are usually the center of innovation.
Innovation in the Medical Devices industry is fueled by the entrepreneurs. These entrepreneurs could be the surgeons trying to make a surgical procedure more effective, an engineer who refuses to accept the status quo and insists on developing a better device or a business school student who declines job offers from big industry houses to pursue her dream of improving the lives of patients. Whoever they might be, they all have the audacity to think big and foresight to spot an opportunity.
Spotting an opportunity is usually the first step on the road to entrepreneurship. The healthcare industry is poised for a radical change in the coming years, change, that will present challenges and opportunities. To help us identify these opportunities, TiECon (www.tieconeast.com), the flagship conference of TiE Boston is organizing an excellent Medical Devices panel on May 22nd to discuss the future of the Medical Devices Industry.
The panelist are experts in their field and represent different segments of the Medical Device industry. Aaron Sandowski from Norwich Ventures brings the perspective of a early stage start up. Start up companies have been a feeder of new technologies to big Medical Devices companies for decades. Device sales model is a high touch sales model which requires substantial investment to develop an effective sales organization. Venture funded start ups usually prefer to tap into existing sales channel of an established player in return for royalties or through an acquisition.
Brad Vale, VP at Johnson & Johnson Development Corporation, a venture arm of J&J will bring the perspective of a big player in the industry. His insights into the role that start ups play or could play would provide fodder for entrepreneurship opportunities.
Rich Toselli, VP of Evidence Based Medicine, would talk about the growing trend of comparative effectiveness in the industry. The healthcare reform in the US could require device companies to submit evidence of clinical superiority over standard of care for regulatory and reimbursement approval. What does this mean for start ups? Rich’s views would be extremely useful in understanding the impact of this trend.
Finally, one always needs a professor to sort things out and provide clarity. There is no one better equipped to talk about the future of entrepreneurship than Dr. Bhaskar Chakravorti, professor of entrepreneurship at Harvard Business School.
Overall, this promises to be an excellent panel and I am sure the audience would come out with lot of promising ideas. You never know how many companies would be started from these ideas. And TiE won’t take any royalty for these ideas……what a great deal!! Seriously, if you aspire to be a Medical Devices entrepreneur, this panel and the TiECon (for amazing networking opportunities) is a must attend event. See you at the conference.
Rajit Kamal
