The Institute for Life Sciences Entrepreneurship (ILSE), housed at Union-based Kean University, hosted the first in a series of monthly Launch NJ: Life Sciences Hub workshops for New Jersey-based entrepreneurs interested in biotechnology, pharmaceuticals and medical devices on September 8. The niche networking group meets once a month on Mondays at 6 p.m. in Kean’s STEM building.
“The healthcare industry is evolving from a ‘vertically-integrated’ to a ‘distributed’ environment,” said Dr. Keith Bostian, CEO of ILSE and Dean of Kean’s New Jersey Center for Science, Technology and Mathematics (NJCSTM). “As big companies look to smaller companies for innovative products and services, entrepreneurial startups will form the foundation of a vibrant healthcare innovation system.”
Guest presenters for the event were Randy Harmon, Lead Technology Commercialization Consultant with the New Jersey Small Business Development Center (NJSBDC) at Rutgers Business School, and Yaniv Sneor, Entrepreneur and Angel Investor. Both professionals spoke on how significant federal and angel investor funding is available to support the creation of technologically innovative research and development (R&D).
“All private equity investments are made in people, not just in science,” explained Sneor.
“Funding from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs support the development of promising new technologies and serve as a pathway to equity fundraising,” added Haron.
The brainchild of Carlos Abad, the vision of Launch NJ is to create a vibrant entrepreneurial community in New Jersey so that entrepreneurs have the necessary tools available to launch their startups. The Life Sciences Hub is a working group within the Launch NJ networking organization which aims to: (1) provide a place to network so members can find the help they need to get started, and (2) to provide talks and workshops to educate the community in the process.
“The pharmaceutical industry is an important sector in New Jersey, and there are big changes happening in the industry and in the State. The Life Sciences Hub creates a platform for an open dialogue and an exchange of ideas,” said Abad, Launch NJ founder.
“An extraordinary depth of experienced life sciences talent exists in the New Jersey area, which is home to major academic centers and a declining but still significant number of research-based biopharmaceutical companies that house world leaders across a broad range of scientific fields,” continued Dr. Bostian.
ILSE was formed, in May 2014, as a regional research integrator and accelerator to facilitate the translation of early innovation to successful healthcare solutions.
“ILSE is designed to bring basic researchers and clinical scientists from academia together with entrepreneurs and business leaders with R&D and business experience, creating a critical mass of talent to accelerate the translation of academic discoveries into successful development programs,” said Dr. Bostian. “Since much of U.S. innovation comes from education, it’s a natural fit to house ILSE at the NJCSTM, and to host Launch NJ events here as well.”
Launch NJ: Life Sciences Hub, also formed in May 2014, already has more than 125 members. Each Launch NJ event attracts approximately 50 attendees. Life Sciences Hub is open to entrepreneurs or would-be entrepreneurs, especially those working in higher education and other experienced mentors from the field, who can bring innovative ideas, increased enthusiasm and peer support to the growing collective of life science entrepreneurs.
This fall, Launch NJ: Life Sciences Hub will also meet on October 6, November 10 and December 6. During each meeting, participants will be given the opportunity to network, before being engaged by a speaker, panel discussion or workshop. Refreshments will be served.
Interested entrepreneurs or would-be entrepreneurs are invited to join Launch NJ: Life Sciences Hub at http://www.meetup.com/Launch-NJ-Life-Sciences-Hub/. There is no cost to join or to attend. For more information on ILSE, please contact Dr. Keith Bostian, Chief Executive Officer, at (908) 737-7207 or [email protected].
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