BOOT CAMP 2017
Created by Academia; Supported by Industry
Founded in 2005 by Carnegie Mellon University & Wharton School Faculty
Investment requires more than just technology, and startups must tell a compelling story that meets the needs of their customers, their funders and acquirers. Funders must receive a return, which requires a liquidity event, sometimes an IPO, frequently the sale of the company to an acquirer. Importantly, this requires that the acquirer’s needs be built into the company from the very beginning.
It is a simultaneous equation that must be balanced, and this Boot Camp provides you the tools and considerations to improve the success of your journey. The Boot Camp was created in response to the growing need in the managerial, scientific and academic community to learn about these elements and the skills to transform technology and invention into a viable company.
History: The 2005 to 2017 Boot Camps
The Biotechnology Entrepreneurship Boot Camp was founded by Professors Arthur Boni of the Tepper School of Business at Carnegie Mellon, and Steve Sammut of the Wharton School, and by Jeffrey Libson, Partner, Pepper Hamilton LLP, and Lecturer at Wharton School Health Care Management Program. The first Boot Camp was launched at the 2005 BIO Industry Organization’s Annual Meeting in Philadelphia. The Boot Camp was originally designed as a program for CSOs but is now expanded in scope and design to address a broad range of issues for entrepreneurs more generally. The Boot Camp was created in response to the growing need in the managerial, scientific and academic community to learn about the necessary elements and skills to transform technology and invention into a viable company. The Biotechnology Innovation Organization through its BIO 2005 Academic-Industry Committee (“AI”) worked with the founders to develop this unique program to fill this knowledge gap. The insight and energy required for entrepreneurial success can be developed by anyone motivated to think strategically, select projects and plan for expeditious and cost-effective management, understand the requirements of all the involved stakeholders, and oversee the essential components of the commercialization process.
The Boot Camp concept is Philadelphia’s legacy gift to BIO and future annual meetings. The intention is that the Boot Camp will travel from year to year to each of the BIO International Convention venues – a veritable “moveable feast.” Now in its thirteenth year, the Boot Camp was offered at BIO International Convention’s in Chicago in 2006, 2010, and 2013, Boston in 2007 and 2012, Philadelphia in 2005 and 2015, San Francisco in 2016, San Diego in 2008, 2014 and 2017, Atlanta in 2009 and Washington, DC in 2011. The creation of the syllabus, the recruitment of faculty, and the faculty’s extensive preparation suggested that wherever possible there should be core faculty, i.e., a portion of the faculty from the Philadelphia Boot Camp who would volunteer from year to year. This approach has the added benefit of improving the presentations and the material from year to year as the faculty themselves identify what works, as well as how to teach together. Most of the faculty (and presenting companies), however, are recruited from the host region.
To facilitate and incorporate local participation, local co-chairs are recruited each year.