With the availability of academic positions on the decline, and a boom in startups resulting from disruptive technologies, some PhDs are looking to utilize their unique set of skills in a slightly nontraditional way – venture capitalism (VC). One VC firm, called Fifty Years, has recently concluded its inaugural program (PhD to VC), which aimed at preparing young scientists with the skills needed to jumpstart their VC careers.
Why would any sane person leave the bleeding-edge medical device space after 25 years for a biotech startup? The medical device world allows you to represent products where you see the benefits to patients immediately. We had the privilege of wearing scrubs and offering our expertise in the procedure room. I was fortunate to work with some of the greatest cardiovascular minds in the world. Having built that trust and credibility is something I’ll never forget. So why move along?
The new hub, dubbed JLABS @ Washington, D.C., will host up to 50 startups spanning pharmaceuticals, medical devices, consumer and health tech companies, including those working on pediatric care. The first group of companies moving in include spinouts from the Children’s National Health System, J&J’s partner in running the site, startups local to the D.C. area and those from other parts of the country.