Unlocking the secrets of the universe, dissecting complex biological systems, or reshaping industries through groundbreaking research—PhD students are the modern-day explorers of knowledge. But what if we told you that your research could be more than just a thesis on paper? What if it could be the cornerstone of a thriving business venture? In this blog post, we’re diving deep into the world of PhD entrepreneurship, offering you three invaluable tips to turn your research passion into a successful business. So, if you’ve ever dreamt of transforming your academic pursuits into a tangible, impactful enterprise, read on. The journey of a thousand miles to the boardroom starts here.
- Communicate with your advisor and university: It is important to keep your advisor and university informed about your business venture and to ensure that it does not interfere with your academic progress. Make sure to get their support and guidance throughout the process.
- Protect your research and ideas: You will need to take steps to protect your research and ideas, such as filing for a patent or signing a non-disclosure agreement. Consult with legal and intellectual property experts to ensure that your ideas are properly protected.
- Conduct market research: Before starting a business, it’s important to conduct market research and assess the potential demand for your product or service. Identify your target market, and key competitors and evaluate the potential scalability and profitability of your business. This will help you determine the viability of your business and make informed decisions.
Enquire and take the leap for yourself – you have nothing to lose, and everything to gain!
Not sure what to do next? Then reach out to Dr Geoffrey Knott, PhD Accelerator Manager (firstname.lastname@example.org), who can guide you towards exciting opportunities, events, and resources that can help you commercialise your research and make a lasting impact.