She further underscored the proximity of these programs to the city of San Diego, where the thriving biotechnology industry enables students to interact closely with local professionals in order to build their personal networks. Moreover, Naughton noted that the biotechnology industry is becoming increasingly global. In response to this trend, the global entrepreneurship MBA at San Diego State University allows students to travel to China, India, and the Middle East during their educational experience. Naughton commented that this adds an additional layer to the entrepreneurial educational experience, as students interact with corporate partners and national laboratories to understand risk-taking on a global scale. She commented that all of the programs she discussed stress an entrepreneurial mentality that recognizes that employees should not be limited to specific tasks, but rather need to be able to adapt to any task that needs completing. This requires that each employee have a basic understanding of the entire company’s structure and practice.
In closing, Naughton emphasized the need for entrepreneurship-related education. Specifically, she stressed the need for biotechnology-specific business case studies and greater student interactions with industry leaders to develop networks. Naughton recognized the importance of increasing internship opportunities, of engaging students in this field at a younger age, and preparing students with the foundation to explore their passion in search of related opportunities.
“Sometimes ventures work, sometimes they don’t, but they are always very valuable learning experiences.”
-Gail Naughton, Dean of the College of Business, San Diego State University and Founder, Advance Tissue Science
Michael Teitelbaum focused his talk on Professional Science Master’s (PSM) programs that are “designed to prepare students for entrepreneurial careers.” At the time of this presentation, 77 participating PSM degree-granting universities exist in 25 states, with approximately 2,600 enrolled students and 2,600 alumni. Participation and program development has recently accelerated in certain regions and states, including Arizona, California, Florida, Illinois, New York, New Jersey, and Oregon. Teitelbaum discussed the Sloan Foundation’s involvement in promoting such educational opportunities, as one of the few foundations devoted to science, especially at the advanced research level. He explained that the Sloan Foundation has expanded its programming efforts beyond academic career preparation by encouraging industry-oriented programs such as the PSM.
Teitelbaum indicated that the Sloan Foundation’s emphasis on PSM degrees is a result of the recent shift away from a sole focus on research-based careers among science and math students. He noted that approximately 80 percent of graduating doctoral students with science and math majors choose careers away from academia. He continued that given the foregone income, career risks involved in doctoral studies, and disrupted work-life balance, students -especially United States citizens - increasingly find doctoral degrees less attractive. Science-intensive employers, however, continue to demand workers with graduate-level science backgrounds as well as skills in project management, interdisciplinary work, computation, legal and regulatory fields, ethics, and a basic business background. Thus, pure research-focused