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What Would Happen if the Entrepreneurial Spirit Spreads
into the Academic World?
http://management-of-innovation.over-blog.com/entrepreneurship-academia-technology-science.html
The missions of Universities are:
·​ ​Research and knowledge production
·​ ​Knowledge transmission through the publication of scientific articles and teaching to students
and to professionals by continuing education programs
·​ ​Professionalization of students (the goal is to enhance their employability)
·​ ​The commercialization of scientific discoveries, unique know-how and technologies developed
by academic researchers
The commercialization of scientific discoveries, unique know-how and technologies developed by
academic researchers can be favored by 3 axes:
1. Research as a Service (RaaS also called Business-to-Science): academic labs can offer their
expertise and service to companies wishing to outsource cutting-edge research and unique
know-how
2. Technology-Transfer (Science-to-Business): licensing of patents or unique know-how to
companies (=> money back to University and researchers by royalties)
3. Technology-Transfer by Entrepreneurship (Science-to-Business): supporting the foundation
of spin-off startups fully dedicated to develop, market and commercialize the innovative
technology coming from the scientific research
Universities have usually an intern department or even a spin-off company (or non-profit
organization) with a staff fully dedicated to support the commercialization of scientific
Ari Massoudi / Consultant Strategy of Innovation /​ ​www.strategy-of-innovation.com​ ​/​ ​ ​www.linkedin.com/in/arimassoudi

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discoveries. The most common name given to a such organization in Universities is Technology
Transfer Office (TTO).
Therefore, the mission of the TTO is to detect as early as possible the commercial potential of
scientific discoveries in academic labs.
But it's a very difficult mission!
Why?
First​, due to the diversity of scientific
fields:
Formal sciences ​(​logic​, ​mathematics​, ​theoretical computer science​, ​information
theory​,​information science​, ​game theory​, ​systems theory​, ​statistics​, ...), ​natural sciences
(​astronomy​, and ​physical sciences​, ​chemical sciences​, ​life sciences​, ​earth sciences​), ​applied
sciences ​an​d ​engineering ​and the last but not the least, ​healthcare sciences ​(​medicine​,
veterinary medicine​,​ ​pharmaceutical sciences ​and​ ​pharmacy ​...).
How could the staff of the TTO have the skills, the scientific knowledge, the business and market
understanding in all of the fields cited above for which there is not yet any market?
It is just impossible!
Second​, due to scientists themselves.
Academic scientists are very smart and brilliant persons of course, people having followed very
hard and demanding education in science. But, they usually do not get anything about economics,
business administration and development, corporate finance and accountancy, corporate
strategy, strategic marketing, people management, operational marketing and sales. Worst, they
even do not have any knowledge in competitive intelligence and intellectual and industrial
property!
Therefore, the commercial potential of scientific discoveries is totally underestimated and
underused in most Universities even in the US Universities, world leaders in technology-transfer
and innovation.
Who is the best able to identify if a discovery could have a business interest?
The scientist himself of course, but only if he/she has some business knowledge, and even better,
if he/she has the entrepreneurial spirit.
Ari Massoudi / Consultant Strategy of Innovation /​ ​www.strategy-of-innovation.com​ ​/​ ​ ​www.linkedin.com/in/arimassoudi

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Scientists who have the entrepreneurial spirit and some business knowledge and education greatly
facilitate the job of the TTO. Business-minded scientists can actively synergize with the support
provided by the TTO leading to a much efficient probability to bring the technology to the market,
and therefore to obtain a business success.
The current solution
Scientists wishing to leave academia follow a business education such as a MBA (Master of
Business
Administration) only ​after​ their career as researcher, and sometimes several years later.
Time is not infinite for humans and time is money. The globalization pushes companies to a
harder competition, but also Universities. Therefore, scientific discoveries have to be put in the
train of technology development and commercialization as soon as possible!
Also, some TTOs offer short training in business (marketing, negotiation, IP …) to their scientists
who are first-time entrepreneurs.
The best solution is to propose a very designed MBA specifically to students entering into a PhD
program in hard science. By very designed, I mean a business training perfectly adapted to the
needs of technology-based startups (in contrast to regular MBA which are more suitable for
people working in large organizations).
A PhD program in hard science is a full-time research activity, therefore, the courses of the MBA
should be provided at « after-work time » such as 6-10 pm during the week, but also during week-
ends, and the program could last 2-3-4 years. Of course, only the most motivated PhD students
will be selected to enter in a such demanding program.
What will be the benefits of a such program for PhD
students?
At the end, they will have both a PhD and a MBA diploma (we can also imagine to provide a
two-in- one diploma such as a PhD-MBA), but also they have acquired the knowledge to identify
in the results of their PhD researches any business potential. Even if their PhD findings is too
much fundamental to be applied, they are ready to join the management team of a
technology-based startup in the TTO’s portfolio. A such two-in-one training/diploma will also
greatly enhance the employability of young science graduates in companies.
What will be the benefits of a such program for the University?
A such combo two-in-one PhD-MBA program will greatly enhance the rate of
technology-transfer, whatever the way of the transfer (by RaaS, by licensing, or startups
foundation).
Ari Massoudi / Consultant Strategy of Innovation /​ ​www.strategy-of-innovation.com​ ​/​ ​ ​www.linkedin.com/in/arimassoudi

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A such combo diploma will also greatly enhance the employability of PhD graduates in
companies. Therefore, the University will have a higher reputation and a higher place in
international University rankings.
A such PhD-MBA already exists at the ​National University of ​Singapore (NUS). Singapore is
really an amazing country and so business-friendly! ​Therefore, here you have ​"The Proof of
Concept":​ ​http://www.phd-mba.nusnni.nus.edu.sg/
The NUS PhD-MBA
A doctoral programme for entrepreneurial scientists and engineers
Program Overview
The NUS PhD-MBA programme offers unique opportunity for students who have great aspirations to become
future entrepreneurs and technology leaders. It is jointly hosted by the NUS Graduate School for Integrative
Sciences and Engineering ​(NGS)​ and the NUS Business School ​(bschool)​. Our programme aims to provide a
strong foundation for concurrently learning science and management.
NUS PhD-MBA: Key Features
● Concurrent PhD and MBA, taking much less time than completing both separately
● Choice of any domain for the PhD, from the life and physical sciences to engineering and IT
● Monthly (12 months per year) tax-free stipend of S$3,200
● PhD & MBA tuition fee waiver
The programme walks through three indispensable phases which includes a PhD - development of research
skills in science/technology; an MBA – development of business acumen; and Internships – practical technology
and business training.
A Minimum Viable Solution
An easier solution and faster to implement would be to offer to researchers in a PhD program but
also to Post-Doctoral researchers a training in ​Effectual Entrepreneurship​, and why not, even a
coaching/mentoring (in close collaboration with the TTO of the University) to those who are
motivated to commit into an entrepreneurial project.
Most of training for entrepreneurs are based on the basic knowledge that the businessmen and
managers should have (business administration, business law & IP, strategy & management,
business plan writing, market research & marketing - segmentation, targeting, positioning,
marketing mix, negotiation, sales ... - corporate finance & accounting, ... ect.). These training are
useful for entrepreneurs with a late-stage project or an established business but they are quite
useless for early-stage projects, and they can even be counterproductive because your market
research could tell you that there is no market while you may disrupt the market ie you may create
a new market!
Entrepreneurship by the Effectual approach (or simply ​Effectuation​) is perfectly adapted to
projects evolving in an environment with a high degree of uncertainty.
Ari Massoudi / Consultant Strategy of Innovation /​ ​www.strategy-of-innovation.com​ ​/​ ​ ​www.linkedin.com/in/arimassoudi

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When you want to launch an Italian restaurant at a Z place in a X city, the uncertainty is low
because most of people know what Italian food is, they like it, your market research can give you
precious information about the Z place you chose (catchment area, kind of people, other
restaurants in the neighbourhood, their types of food, their revenues .. ect.), and therefore you can
write a quite accurate business plan (including the financial forecast) and design your restaurant
and its offers very finely with the hope to satisfy your future clients.
But when you want to found a business based on your scientific research, while 99% of common
mortals don't get a word of what you do, your technology doesn't have yet any application, or
maybe it has an application but you don't know how to make it a product and you don't know to
who and how to sell it ... the uncertainty is at its highest level! Therefore, you need an
entrepreneurial approach that match perfectly with uncertainty, and this approach is the
Effectuation.
Learn more about the Effectual approach:
French
Prof. Philippe Silberzahn
https://www.youtube.com/watch?v=xolTDaPVFa8
https://www.amazon.fr/Philippe-Silberzahn/e/B004N1287K
English
Prof. Saras D. Sarasvathy
https://www.youtube.com/watch?v=t5HZW4NqZ-E
Effectuation: Elements of Entrepreneurial Expertise (New Horizons in Entrepreneurship series)
by Saras D. Sarasvathy​ ​http://a.co/4VImyCs
Effectual Entrepreneurship
by Stuart Read et al.​ ​http://a.co/11tahHC
https://www.youtube.com/watch?v=GoLZGSHmkRI
Ari Massoudi / Consultant Strategy of Innovation /​ ​www.strategy-of-innovation.com​ ​/​ ​ ​www.linkedin.com/in/arimassoudi