Boot Camp for Science Entrepreneurs

Students in a lecture hall

Welcome to our boot camp: The Business of Science

Thank you for your interest in the Business of Science Bootcamp. Enrollment for the 2023 bootcamp is now full.

In Person Boot Camp: June 4 to 8, 2023

Virtual Orientation (required): May 24, 4 to 6 PM
In Person Sessions: June 4 – June 8

College of Health and Human Development and the Smeal College of Business
Directors: Donna Korzick, PhD, Chair, Intercollege Program in Integrative & Biomedical Physiology
Dr. Jeanette Miller, Director, Corporate Innovation and Entrepreneurship (CIENT) Major, Smeal College of Business
Location: Eric J Barron Innovation Hub Building, 123 S. Burrowes St., State College, PA

Have a discovery mindset? Considering emerging career options in the life sciences? The “Business of Science” boot camp is a career opportunity for graduate students and postdoctoral fellows in the life sciences to obtain value-added training in Entrepreneurship and Regulatory Affairs. Our unique, one-week boot camp experience will expand your business acumen and impact your career trajectory in preparation for emerging careers in science and biotechnology. We have assembled experts from both within and beyond Penn State, and look forward to an exciting week of didactic and experiential learning. See an idea come to life and learn the basics of marketing, business planning, and intellectual property. Learn from local faculty entrepreneurs, and get ready to make your own pitch before our very own panel of experts and judges. We will kick off the boot camp with a virtual orientation, followed by in-person training. We will follow all COVID-19 guidelines and prioritize safety.

Please note that there is no fee for attending this boot camp, so your commitment to the entire week is required; otherwise, we will need to charge your home department. Registration is required, and limited to 25 participants on a first-come basis. Acceptance is conditional until approved by your advisor. Please contact Donna Korzick or Jean Pierce with any immediate questions. There will be a required virtual orientation on May 24, from 4-6 PM.

We hope to provide lunch each day. In person sessions will kick off on Sunday, June 4 (1 to 4 pm). Sessions will continue on June 5 – 7 from ~8:30 to 4:30 pm each day, with the exception of Thursday June 8, when we will conclude the boot camp at about 1 pm. Student teams will develop an idea throughout the week, and the best idea pitch will be rewarded with fun prizes. Classes will consist of lectures, case studies, and breakout sessions, and supplemented with panel discussions and video presentations by entrepreneurs so students get to see ideas in action. The Business of Science Boot Camp is part of the NIGMS Predoctoral Training Program “Physiological Adaptations to Stress."

Faculty who will be involved include:

  • Jeanette Miller, Director, Corporate Innovation and Entrepreneurship (CIENT) major, Smeal College of Business; Associate Director, Farrell Center for Corporate Innovation and Entrepreneurship; Assistant Clinical Professor of Entrepreneurship
  • Derek Gross, Director, Penn State Office of Entrepreneurship & Commercialization
  • Ann Hoag, Director, Intercollege Minor in Entrepreneurship & Innovation (ENTI)
  • Brit Peterson and Stephanie Wilusz, Penn State Law Staff Attorneys, Happy Valley LaunchBox Entrepreneur Assistance Clinic
  • Michael Zaydon, Penn State Smeal College of Business
  • Rachel Herder, Vice President of Intellectual Property and Associate General Counsel, Mammoth Biosciences
  • Ben Nason, Idea Catalyst, Happy Valley LaunchBox
  • Steve Carpenter and Elizabeth Hay, Penn State Smeal College of Business
  • PSU Faculty Entrepreneurs
Wednesday, May 24Sunday, June 4
Monday, June 5Tuesday, June 6Wednesday, June 7Thursday, June 8
8:30 – 9:30am
ICOR Partnerships – Opportunities for Innovation Derek Gross, I-Corps Coordinator Office of Entrepreneurship & Commercialization

9:45 –11:45am
Entrepreneurship – Where to Start? Jeremy Franks, CEO of KCF Technologies
8:30 – 10:15am Legal Structures for Running a Business Brittany & Stephanie, Penn State Law LaunchBox Entrepreneur Assistance Clinic

10:30 –12:00pm Intellectual Property and Regulations Rachel Herder, V.P. of Intellectual Property and Associate General Counsel, Mammoth Biosciences (virtual)
8:30 – 10:15am Financing your New Venture: External Funding Steve Carpenter

10:30am -12:00pm PSU Faculty Entrepreneur Jack Vanden Heuvel, Indigo Biosciences
8:30 – 9:30am Group Final Pitch Practice

10:00am – 12:00pm Presentations of Business Ideas to Judges (8 min presentation/8 min discussion) Anne Hoag,
Steve Carpenter, Elizabeth Hay, Penn State Smeal College of Business Faculty
4:00-6:00pm Virtual Orientation Donna Korzick and Jeanette Miller
A. Outline of Boot Camp
B. Introduction of students & Lead faculty
C. Areas of Interest/Research
D. Forming teams
1:00 – 4:00pm Entrepreneurial Ideation Jeanette Miller
A. Identification of gaps, niches and pain points
B. Defining customer needs
C. Value propositions

Business Model Development

A. Business Model Canvas
B. Competitor Analysis
1:00 – 2:00pm Diffusion of Innovation: Crossing the Chasm Ann Hoag, ENTI Director

1:00 – 2:00pm Customer Discovery: Getting in Front of Customers Jeanette Miller

3:00 – 4:00pm
Customer Development: Selling your product Ben Nason, Happy Valley LaunchBox
12:30 – 4:30pm Financial statements, Valuation, Pricing Strategies, Revenue Models Michael Zaydon, Crystal Park Group12:30 – 2:00pm Effective Pitch Development Jeanette Miller

2:00-4:30pm Group Breakout Time