Georgetown’s Faculty Entrepreneurship Academy: Module I – Fall 2024
Georgetown University recently hosted its latest iteration of the Faculty Entrepreneurship Academy (Module I), a two-day event held on October 15th and 28th, 2024. This program, organized by the Office of Technology Commercialization – Georgetown Tech Ventures Program in collaboration with the McDonough School of Business and the Georgetown Entrepreneurship Initiative, featured a diverse lineup of speakers and interactive sessions aimed at fostering innovation and entrepreneurship among Georgetown’s academic community.
The academy brought together a diverse group of faculty, offering a comprehensive curriculum designed to transform research discoveries into viable ventures. Led by Tatiana Litvin-Vechnyak, Professor Jeff Reid, and Christon Hill the program covered essential topics such as idea development, lean startup methodology, and investor engagement.
The Faculty Entrepreneurship Academy supports Georgetown’s faculty, staff, and students in translating their research into innovative ventures. Through breakout sessions and workshops on startup essentials, IP strategy, and ecosystem resources, the goal is to inspire participants with the confidence to use these tools to bring their ideas to life, building a better future.
Christon Hill
Day One Highlights
John Jabara
On the first day, Professor John Jabara led the session “So you have an idea,” exploring the initial stages of turning academic concepts into viable business opportunities. Professor Shye Gilad introduced participants to the Lean Start-Up Methodology, a crucial framework for efficiently developing and testing business ideas. This session provided faculty members with practical tools to validate their concepts and minimize risks in the early stages of entrepreneurship.
Shye Gilad
The day also featured breakout sessions, offering participants the choice between refining their pitching skills with Dr. Alyssa Abo, Physician Executive, Board Director, Strategic Advisor in MedTech & Digital Health, or delving into IP strategy with Dr. Derrick Rowe, a partner at Wilson Sonsini Goodrich & Rosati. These sessions provided valuable insights into communicating ideas effectively and protecting intellectual property.
The second round of breakout sessions had Mike Duval facilitating an engaging session on Invitational Leadership while Dr. Mona Suliman, BioHealth Innovation Sciences Business Strategist, and Jennifer Butler, Executive In Residence BioHealth Innovation and Montgomery County delivering an insightful presentation on the BHI-Resources Through OTC.
A highlight of the first day was the panel discussion featuring successful entrepreneurs and founders. Dr. Jeff Toretsky from Georgetown University’s Toretsky Lab, Dr. Sherine Chan, CEO and Co-Founder of Neuroene Therapeutics, and Dr. Prakash Kolli, CEO & Co-Founder of 3D OrthoBiologics Solutions, shared their experiences and encouraged participants with the message “You Can Do This!“
Tatiana Litvin-Vechnyak, Jeff Toretsky, Prakash Kolli, and Sherine Chan
Day Two Insights
The second day began with Professor Jeff Reid‘s introduction to investors and funding, providing participants with essential knowledge about securing financial support for their ventures. This session equipped faculty members with strategies to attract and engage potential investors.
Jake O’Keefe, Dana Goldsmith, and Beth Woodring
Participants then had the opportunity to choose between two workshop breakouts. One focused on incubators and accelerators, featuring insights from Dana Goldsmith, Head of Business Development at CVille BioHub, Beth Woodring, Federick County Maryland’s Director of Financial Operations, and Jake O’Keeffe, Venture Creator & Technology Scout at Fedtech.
Elena Koustova
The alternative session, led by Dr. Elena Koustova, the Director of the Office of Translational Initiatives and Program Innovations Director at the NIH, explored NIH startup resources, offering valuable information on leveraging government support for research commercialization.
Christon Hill, Tien Wong, Nikki Hastings, Stephen Auvil, and Jack Miner
Another set of breakout sessions followed, with one option exploring the DMV (DC, Maryland, Virginia) startup ecosystem. This session featured a panel of experts including Tien Wong, CEO of Opus 8, Inc., Nikki Hastings, Executive Director of CVille BioHub, and Jack Miner, Chief Investment Officer of TEDCO, and Stephen Auvil, Chief Federal Engagement Officer at TEDCO. The alternative session, led by Justin Coen, Partner at Venable LLP, focused on FDA regulatory strategy, providing crucial insights for those in the biomedical field.
The Faculty Entrepreneurship Academy exemplifies our shared commitment to nurturing innovation at Georgetown. The OTC and the Georgetown Entrepreneurship Initiative teams create a powerful ecosystem that equips our faculty with the tools, knowledge, and mindset to transform their groundbreaking research into impactful ventures.
Jeff Reid
As the event drew to a close, Dr. Matthew Cimino, Senior Manager at the Maryland Department of Commerce, presented an overview of the resources available for Life Sciences businesses in Maryland. Dr. Cimino, with his extensive background in life sciences, business development, and entrepreneurship, shared valuable insights on how the state supports and fosters growth in this sector.
The program concluded with final thoughts and a Q&A session, followed by a certificate ceremony and cohort photo, marking the successful completion of Module I and encouraging enrollment in Module II.
This iteration of the Faculty Entrepreneurship Academy has further solidified Georgetown’s commitment to nurturing entrepreneurial talent and advancing innovation. As participants left with new knowledge and connections, they are now better equipped to launch the next wave of groundbreaking ventures.