BioDesign: A Process of Innovating Medical Technologies

BioDesign: A Process of Innovating Medical Technologies

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okay so we start with a weather that's the way we  do it and fall is here and so this morning a thing   said fall on me and yes PA is here and we are  ready to do do this beautiful fall so um weather   is fantastic we are into a new energy coming  that has come up and the colors are blooming   and if you are on on zoom and don't belong to  Northwest Arkansas you are missing something   really beautiful that's around the corner um  I'm ran I'm the uh director for The Institute   for Integrative and Innovative research and um  any of you have heard it before but I'm going   to tell it again to everybody else we call Wicked  problems we find solutions to Wicked problems and   our approach is using a convergence approach  to bring different sectors together and this   is perfect our speaker today is black that and  um using an integrative Innovative approach so   that we can take our solutions to be at scale I'm  going to uh if you can already see the screen you   will see it's an intro to biod design and culture  process let me tell you if you don't know about   the culture process which you will hear today I  was privileged to be a wallage culture Remnant   taller in the previous University everything but  most importantly those of you who do not know the   ver Foundation played a major role in making  biomedical engineering across the whole nation   but across the globe as separate departments but  then quter Foundation came in and basically when   ver Foundation was closing down quter Foundation  came in and pter Foundation seeded a lot of money   and lot of funding with partnership from  different universities to see how can you   take Technologies out of the you know labs in  in the medical space and actually get them out   and commercialized and actually make a difference  and they along with and you will hear a lot about   about this today from our speaker for for uh  later today but this is really is to my heart   this is something that is really really very  really special and and that biodesign process   and the culture process so I'm going to stop  at that because we're going to have Professor   Arman do the inter uction to our speaker  today so welcome to this beautiful call day welcome hello everyone thank you  for joining today h I just want   to go a little bit brief history  of me and D Dr Mr T here D got her Masters so got his master's degree in Drexel  University and correct me very and then he   immediately wanted to start the entrepreneurship  he opened a software company with his friend that   uh worked for 10 years I think 10 years in years  25 years I'm approximate 25 years there and then   he sold the this company was sold to Reuters  reuter Thompson at that and then he started   his other in the then he became the fter manager  for several years and the de brexel University I'm   not going to say how so many years but after  that after doing the cter for several years   at brexel he started opening his own startups he  started with f near for brain Imaging that I think   you still have the companies performing and sold  more than 500 uh systems across the United States   and world and after that few years ago like  2019 we met and we started working together   and I go back to met earlier and we started he  had this idea that work have a full body imager   that can be used for medical examiner and for skin  cancer detection and classification so that's uh   something that we've been working I had a pleasure  of working with doood for so many years on that   and we has been very productive uh collaboration  with the we got SPS from NSF and ni both and we   continuing to get that work together so that's  my professional work with dwood but I have to   say I know dwood for 40 years maybe more since we  were both in high school we went to the same high   school we actually sat on the same bench in the  last year of high school and I always remember   this kid that was always so eagerly listening  to the teacher and following up with such an   interest what the teacher was lecturing while I  was just looking at my time to just go and then   I was asking what's going on but uh so it's a  pleasure so it's it's a great pleasure to work   with a friend collaborate and the collaborator  and a colleague at the same time go with the   friend collaborator colleague it just it's a honor  to introduce you today thank you thank you thank you uh so uh as M said I have had a few uh terms  in my professional career uh but this has been   the most enjoyable part of my career uh I work  on daily basis with students we have anywhere   between six to 8 uh six to 10 graduate students  working on our J projects and some of them are   like my kids and I tell them that a lot my kids  now I've been working with that for three four   years um I did not know what to expect here today  so uh I first did a presentation I thought with   I'm going to meet with students so I tuned it  towards students and I uh made a presentation   about need and find which is the stone of the  biod design process and I actually brought the   book so the students can see the book too and I  can I carried this very heavy book to pass it on   to students um but then I found out that we might  not have a lot of students so I added and the cter   process to it like 10 minutes ago uh and then  I found out that Ru was involved with the cter   project and I thought okay what are we going to  talk about now I have nothing to talk about but   I'll go through the motions and we can have a  discussion because uh a lot of it could come uh   to discussion so um some people might think of  fter process of design thinking that's another   way of thinking about the process of innovation  to find out um in the locality in the environment   in the industry that you want to innovate uh what  are the problems before finding the solution so a   lot of times finding the uh the process of coming  up with a medical device is a technology push so   um the um professor comes up with a new kind of  technology and say okay how do I apply that to a   problem so you have the technology first and then  try to apply to a problem um fire design uh is   not that it's like takes the magic away that you  wake up one day and you have this great idea and   you make a device bu design replaces all of that  magic of idea with a lot of hard work Upstream of   the process so uh Stanford has come up with all  different phraseology and uh I had the privilege   of taking the Executive Education course uh which  was like a 4day course at Stanford and Josh M and   Paul y they T the course um and we visited a lot  of the um innovation centers around Silicon Valley   that they practice uh biodesign uh the boundary  is an amazing one if you have a opportunity   to go to C Valley that would be an amazing  place to see bio design process in action uh so so this is the a moment followed by development  this is the traditional way that people think that   uh the medical device Innovation happens the  bio design takes this a moment and replaces it   with a lot of hard work uh a process that  at the end of that you will end up with a   device that people want it and it's useful and  makes economic sense and uh it saves lives so um I messed up my presentation looks like I  apologize um so uh basically it's a process where   um you need to do a lot of work to find out first  of all what Market you are interested in uh the   market that you're interested in might be because  of you know I work for metronic and in metronic we   do cardiovascular so that's the area that I need  to innovate that's I'm in that department I have   to I am a cardiologist I understand that so that's  the area that I want to innovate so you have   to select a market and and then go through all  the steps that and I'm going to go through some   those steps with you um and then when before you  start uh you have to look at the economics of that   market um so I um as we go along um I have made  an example of the technology that me and meon are   working on so um and I always explain this to the  students I probably don't need to explain it for   you but there is a total addressable Market uh for  each technology uh that you know um they need the   market for lighting there's all kinds of lighting  in the world and then there is the serviceable   available Market which is like those having to do  with LED technology and then within that we see   that our for competency for replacing the LEDs  for replacement BS so so for us looking at the   market and and we uh our Innovation is related to  Dermatology is related to finding skin cancers at   the earliest possible stage that we can find out  so uh the total addressable Market in this area   let's say there are 160 million people that need  to get annual skin checks so it's like a 6 to 12   billion Doll Market and then uh there serviceable  available Market let say because of the   reimbursement because that for all of those people  there is no reimbursement you cannot just decide   to go to your doctor and have your doctor do a uh  the kind of technology that we are developing on   you and expect Insurance to pay for that uh but  for the people who have had history of melanoma   uh that is a reasonable thing so the serviceable  advisable Market is $1.1 billion uh and we are   going after research institutions first we have  installed our first machine at John Hopkins Out   Center our second and third machines are going  to the of our hman Institute so we are going to   uh install their machine at up to 60 research  institutions around the world and then um then   prove the technology with doctor's offices we need  to at least sell like 20 30 uh doctor's offices   and then we have proven the technology that it had  efficacy during the clinical trials and then the   doctors did buy it and they made money and then  once you prove the business model where company   uh Venture so so this is the uh replacement  the biod design replacement for the process   and it all starts with the is the most important  part of this process you know um the uh there are   great Engineers everywhere all the companies have  fantastic uh teams that can Implement almost any   project but um a lot of them feel like what  happens out like let's say you're inside G and   they think the reason we're not coming with  that many Innovations is that we don't have   access to that many needs but we I have the best  engineering team in the world if you if I find   out that need I can make the implementation  so uh you will see how important it is as I   go through my presentation so um the reason many  um medical devices fail not technology um there   is uh the technology doesn't work is one Reon but  it's not all the Reon and even that reason of the   technology not working that also has to do with  need because you probably pick a need that you   didn't have the type of expertise and resources  to bring it to the market so a lot of these go   back to the need no one is willing to pay that  is something that people can figure out with a   little bit of work you know graduate students  in a week can figure it out without spending a   billion dollars on developing a new uh AR icial uh  spine compon you know so um you you need to know   if people are willing to pay for this technology  not enough patients you can develop a technology   that's it's good for five patients send these that  with artificial risk they they spend a billion   dollars actually technology that if they sold  it to everyone that uh could use the technology   they still wouldn't their money they spend on the  develop they could have done that on a piece of   paper with one R so um this slide also talks about  the same thing as you go along the development the   costs go much higher and higher so you want to  fail the projects early so we want to fail up   okay this wasn't a good need let's fa it  right now or at the concept level or at   the Prototype and development level or at the  clinical level if you f at the clinical level   this is the cost that you're looking at  whereas at the uh need level if you fail   the project you have spent a lot more time  look at the years going to a project at the   development stage if you want to say it that  that's fa a lot of projects can be failed a lot area so this a lot of this information is in the  book and I have taken it out of the book so uh I'm   not giving reference in every slide but they are  all from the book so needs are not easy uh they   they really finding that need is very difficult  and you can see that line is pil calling said to   have a good idea you have to have a lot of ideas  and and so if I ask my patient my customers what   do you need they say that's the course so um it's  very very difficult to find that me and uh it's   not obvious so uh bi design has come up with a  process for doing this and the process is the   numbers G so you have to have to look at a lot  of needs able to come up with you know a answer   that you can take to development and planning  and uh that how do you come up with that um   you have to be in the situation in the market of  the technology area that you want to develop you   want to uh innovate in the cardiovascular area you  have to camp out in the cardio Department in the   hospital in the ambulance in the helicopter while  they're transporting the patient in the operating   room in the recovery everywhere and observe for  long periods of time you have to talk with the   patient with the doctor with the nurse with the  ambulance prider with all all the people that   are involved in the process to see what are their  issues and um so so the process is a very time so   you have to have a team of people approaching this  a team that has different expertise they have to   have domain expertise so that's that's good but if  you go with somebody uh with domain expertise they   are jaded they see the solutions that are existing  as God given and oh we have the solution for this   thing and and that's not enough you need to have  marketing the person can understand what sells   what doesn't sell but you also from outside the  business people who look at the problems with the   fresh eyes uh in brexel University we did that we  sent groups of students to Shadow the doctors not   interact much with the doctor but join down what  the doctor did during a period of one week and   they wrote a report and gave it to the doctor and  the doctor say really is that what I do and they   were surprised of the flaws that the student saw  in what they were doing so uh you have to have a   mixture of people who go out there to find and  to get these needs and they have to find a lot   of things right you have to have a lot of ideas to  come up with a good idea so um there is a specific   format I'm going to show you that um you know I  said Stanford came up with the phraseology of how   to document in and um and how to select between  that so it's an iterative process you have to come   up with a lot of needs and uh during the needs  finding you're not trying to kill the needs during   the need they're not trying to find needs you're  trying to kill those needs that are going to cost   down the road so uh so uh you're only looking  for problems you know every problem that you find   should be written down and should be discussed and  should be uh examine to item before you reject it   but during finding process you want to write  down every problem that you see every problem   that come across as You observe in a hospital  for a month which is what people typically do   this team need find and go out there um just to  tell you a little bit I was really passionate   about this while I was in at Drexel University and  um Stanford has established bu design centers all   over the world uh and they take basically graduate  students and if they put on through this programs   they six months program they go to least finding  and they go all the way through the process to   of innovation and and they learned a lot a lot  of them are medical students so forth but there   also exists a big group of people in the industry  like let's say a that was a specific group that I   worked with while I was at Rexel uh they wanted  to come and do needs find in Drexel's hospital   that sounds like something reasonable to do in  practice it's close to impossible for them to uh   come to the hospital and do their needs finding  there a lot of prohibition laws against selling   to their patients uh so it's very very difficult  for a company to send a a team a needs finding   team to a hospital to find those needs When J andj  approached me and they wanted to come to Drexel   University to do need find send it to you combine  their staff their domain expert their marketing   expert with the student EV that uh had the firstes  eyes to go and find these needs it took him two   months negotiating an agreement for them to come  and do needs finding for one month and I thought   okay this was so painful they would never want to  do it again they finished it they wanted to do it   again so that gave me the idea that there are a  lot of companies that want to do this and if the   university makes it easy and puts together once  you get the agreement developed that agreement is   pretty much can be applied to everybody nobody has  to go through this 45 two month day of negotiation   again and again you set up a process where the  companies can come and visit and bring the their   uh you know their brass to the university they get  familiarized with the students from the university   the students gain the experience they gain um  familiarity with the companies and that process   can repeat and they can I thought that a better  approach to BU Design Center than what Stanford   is doing which is putting only students through is  to bring in the company to the university and set   up bio design centers where companies are members  of that bu Design Center and they are allowed to   pay a annual fee and send by Design needs finding  team twice a year maybe and and then all the needs   that they don't want go into a needs Bank where  the student can use those means and do other kinds   of work with it so I spent good amount of energy  but then I got busy with my companies and I gave   up so this is an example of a NE statement a way  to address a problem in a population and then for   outcome a way of screening skin cancer in over  50 population that can find skin uh stage one   skin caners so I want to find skin caners at the  various possible stage that I can find it now this   statement doesn't look like much but if you think  about it this is my advertising this is how I go   to SDA this is my weo on my produ this tells  me what kind of Clinic te study I have to do   to get this device to FDA this one sentence here  has so much impact on everything that it's worth   spending some time to get it right and getting it  wrong is really bad so it guides the brainstorming   it facilitates concept screening value screening  uh part of the IP you decide uh how you file your   IP because it's going to become your product uh  clinical trial protocol comes from this sharpens   marketing efforts uh basis for the reimbursement  argument all of that comes from what that one line   it's a very very important line so you see why  need is so important and you can uh you know Buy   by spending a lot less effort than development at  this stage up front Upstream you can increase the   chances of your success by so this is the device  that mean and I are building here in uh University   of Arkansas so this is the third interation of  the scanner that um I have built two iterations   of this before in in our office but then this  one is a joint effort it's being built here in uh   University of Arkansas and um the there are a lot  more robotics has 19 Motors in it uh every camera   has pan two of the cameras have tilt and they all  can move in uh well four of them at least can move   in XY play 3 uh and the bottom ones can only in  and out but our idea is to have the same number   of pictures regardless of the shape and size of  the patient and all the pictures will point to   the same Anatomy so if in my scan picture number  six has my nose in the center picture number six   has the nose in it Center for anybody else all  the cameras are always at 45 cm from the patient   they're always as close to perpendicular  to the center of the area that they want to so when you put all of that together it's  impossibly complicated project and I'm so lucky   to work with me this team on this project I  also I don't know how we are doing with time   but I'm going to spend a few minutes on the cter  process so uh we did talk about this slide and uh   regarding the pter process um pter um wanted to  you know their Vision was in us we don't make TVs   we don't make the best cars we don't make the best  TVs we don't make the best cameras uh we make the   best medical devices um we are competitive in  that area how do we stay competitive how do we   save lives by becoming more competitive and uh how  do we includ patient care in the process so they   uh Wallace pter in his lifetime uh had seen a lot  of adversity uh he had traveled the world he had   seen all the misery after the war and uh he wanted  to do good so he left half a billion dollars the   proceed of the sale of the company that he he  and his brother owned uh they sold to beetman   so as a result and half a billion dollar went to  the Wallace H poer foundation and they thought   how do we do good and they said okay we Eng with  universities and many universities appli forment   so they can do uh they can do the good work that  the foundation wanted to do uh they selected uh   10 universities in the to uh and the mission  was that okay we're going to give a little bit   of money every year to these 10 universities  and see what kind of translation what kind of   commercialization of uh life saving Technologies  they can achieve with a million dollar either so   they selected 10 universities they said okay you  do a good job we give you money for five years   and at the end of five years we're going  to evaluate you somehow and decide which   universities deserve to get an endowment so  they can commercialize their medical device   Technologies forever so but nobody knew how  they're going to graduate these universities um   along the way during those five years we met all  the time so I was the cter program director at Dre   there were 10 people equivalent to me and then  there were 10 people who were the heads of the   biomedical engineering department uh the  20 of us met at least twice a year with   cter Foundation being very Hands-On probably  putting the most input into the process this   process of the whisking was developed and  the process although in most universities   was and is technology push the foundation was  very interested in finding and then find the technologies that that are deserve but then then  you have to have a lot of screening so when uh a   professor a team of professors would apply for  cter funding um we would look not just as the   scientific Merit of The Proposal but there is a  lot of other ingredients that go into a successful   proposal and we had to evaluate all of those so  sort of more rigorous than an ni although maybe   we were easier to give out money at that you  know at at a wor score but um we look at more   uh more attributes of the project and the people  who then then there was a panel just like we we   had a panel our panel didn't changed from time to  time it had three people from industry we had all   J&J present at the table uh we had integral  Life Sciences because they were on the bind   they were buying companies like at the rate  of one a week uh when they were part of our   uh oversight committee and um also uh people  from uh medicine School of Medicine uh Economic   Development uh groups uh so we had a panel with  different points of view from the financial from   the technology from business that would look at uh  the proposals from different eyes and then their   job wouldn't be done once the proposal resp funded  uh every six months the teams have to come back   and explain to the oversight committee what they  have achieved what they're trying to do uh they   will take advice um sort of not like the N that  you know they handsfree you get the money at at   the end of the uh project maybe you give a report  and that's the extent of the involvement that was   not the case the involvement is constant from the  C program manager I have to act like the CEO of   the company I have to I am responsible for taking  that technology to the next stage whether that   would be to get it to a a strategic company that  is going to license it and bring it to the market   or form a new business around it with management  and get it to somewhere or admit that we made a   mistake otherwise we have to constantly fund them  so either those commercializes or we admit mistake   or we have to keep funding it so I fund it one  year no commercialization activity happens I   either have to admit I made a mistake or I have  to give a money for the second year second year   ends I have to give money for the third year so  we don't have a lot of money I I could the program   I shouldn't say I the program could support  three projects a year so if I gave my funding   to an existing project that mean that I couldn't  bring another project in that was deserving so uh   so we have to be very selective in the projects  that come in because you have to think at the time   they come in a they have to go out might be very  exciting to bring a interesting science project in   but a mundane science project could be a better  commercial project so that was the selection   committee and the program manager would review and  make sure that now how do we drisk the project the   drisking is basically to answer a killer exper  by killer experiment but what is a definitive   experiment that can prove to everyone that this  technology has Merit for the licensing for the   company management that's going get form so it had  to be a compellent study design that if you show   the data from that that was compelling enough for  the technology so and that was basically the most   important thing that we had do and how we ended  up being measured we didn't know this in the   beginning of the program like few months before  the end of the program the foundation learned   and we learned at the same time that the follow  on commercial fund there is the only measure of   getting the down that is if we putting money into  a project and government puts money in the project   that project still has 0 of commercial followup  funding when a g comes and put $1 in it that's $1   of follow on Commercial F you go get $6 million  from NIH you still have zer you get $1 from J&J   that's $1 so we measure we put in $5 million  into the program the commercial entities put $20   million into those Technologies so then that is a  multiple of 4 to one of commercial fall on fund to   pter Funday so most universi were ATT tenants at  commercial fall on fund so and I think that was   brilliant that uh fter came up with that measure  as a measure of successful commercialization   because yeah like people in uh John Hopkins they  can generate a lot of Ni funding but that doesn't   mean that this is going to be a very good uh  commercial success the follow on funding the   people who have to put their own dollar out  of their pocket and put it in the project so   five universities out of the 10 universities  got the endowment uh I was lucky enough that   Rexel was one of them uh one of the technologies  that we invested went all the way to FDA while I   was during my 10 year I was there actually for 10  years running the program and got it fa clearance   and it's being sold by seens now uh several  other Technologies were quite successful but   uh because of our commercial fall on funding  we were able to bring the endowment into that I think that's where I'm going to stop  I don't know how we doing with time but we   can have a discussion we can have question  and answers um I'll be happy to answer your question actually and the the FIU biomedical engineering  department was the only Department that that   was the first Department that they endowed as  a department not for endowed department and   then later out went togia Fu department  and they right down the street from the I don't think they have to pass any  tests to get the endowment so really   four universities had to pass the to  get beautiful bi engineering building that they original displ one story about W and he wanted to come back to us and there was  no you know I jump on the flight and come back toci one wenta America long so contract toting andology the beginning but he we do have um one question   online um Professor Raj ra from department  of engineering um is uh from the College   of Engineering in biomedical engineering is  joining us and he says thank you very much   for a wonderful presentation I teach a course  called biomedical Innovations for Global impact   where we have adapted the biodesign process one  of the motivations behind the course is to bring   together students from different back backgrounds  and different perspectives to address common needs   based on their specific location and constraints  one of the major challenges associated with   generating a feasible design that can work across  different cultures are the economic constraints   could you comment on how the biodesign process  can help in the generation of lowcost Innovations   with potential for broad impact especially in  underserved communities across the world well   I I think the answer is in the question um I it  can be very impactful um I met with the person who now I apologize in China we sell  exact same devices that we   s in United States 1% of the people we have sour but then you have these mass of  people Africa in India all over   the world that cannot afford the same  device that the insurance pay for United   States and uh a big way that uh  universities and students to come soltions problem I think it also reminds me  program that professor in temp University was and the student teams go to you know resource  pool countries um they can get big donations of   devices from us from Europe from everywhere  but they have no expertise in maintaining   those devices I'm not talking about repairing  that just keeping them in working conditions   and these student teams go and they awarehouse  of devices that come out of the hospitals in the   United States and they can be easily uh retask  and um you know put back to work and serve those   communities and Dr ke has done a really good  project and maybe he would be a good uh resource   for the person and uh they can team up and send  students uh from Aransas to help with as well yes thank you very much great and I wanted  ask about you know see on this slide VCS and   I guess you know if you hear VCS talk about what  they do in their evaluation it sounds like it's   a similar process it is very similar process and  and again our goal wasn't scientific so our board   our oversight like our board shouldn't have the  same makeup as n that's interested inside so VC   are big part of it if we have the people that are  eventually have to fund the project select the   project in the upun process then that project has  much better chance of at the end of the process   going in front of the same VC and being successful  because the VC with the same brain with the same   criteria selected that project as the project  that might so so I think that is a very key   part of there so it seems you're saying that  the VCS are an important part of your team   yes yes do the VCS see that having the other  on the team you know is there is there value   from VCS to sort of partnering with with the  cult team so yes and no so maybe not so much in   gell University that I was um maybe that will  change over time but uh let's say in Stanford   they fight to M over CA Technologies coming out  of the pipeline it's a pipeline that they know   the Technologies coming out of it are vetted are  selected properly have answered that Killa study   question so when they come out of the pipeline  they have some Merit they can visit that pipeline   again and again and again so uh yes the people  who sit on the VC committee know better than   anyone else what's in the p line and there is no  conflict of interest in them fighting each other   to pick it up at the end of the pipel I think  it's all good it's a win-win did I answer the   question yeah I just um I guess from the culture  process standpoint the BCS are a partner and   essentially the innovators are a partner but the  the customer is the the patient or the true true   but um you know my dad was also an inventor and  he published everything he invented how many of   them do you think are serving Humanity so there  has to be a commercial process there has to be IP   there has to be funding there has to be commercial  processes happening for a technology to come Ander   Humanity so just uh being idealist and saying  no there are VCS they have no room for VCS in   Academia then I think that's closing the door  to translation I think uh the commercial aspect   of the technology would dictate whether that  saves Liv or not not the scientific aspect of it um but I think there's one thing that my  dad invented that is still in use and he   patented that one and some company in England  Stole and it never PID him but it's still in use yes and so just a question regarding cter  you said about the1 billion that they put how   much money so the proceeds from the sale of  the company was a billion dollars half of it   was wall so that was 500 million and then  what they gave to the firston University   was a million dollars a year and then they  dangled a $20 million Endowment in front of   the University said okay if you are successful  and you can commercialize your technology   life saving Technologies uh we evaluate you at  the end of five years at the end of5 million and   then if you deserving we give you1 million  that you can match with 10 million dollars   of your own money so P was like this all the time  they would have just give you money and say we go   have fun with it they would make sure that you  are part of it you work hard for it you we are   you know we are Partners they said we give you  $10 million we match it with $10 million you   can move it from your general endowment into  this specific we don't care but it should be   only do for uh Fuller purposes and you put  that those two together then you have now   $20 million the interest the that you get on that  $20 million and support three projects every year   so it's a they wanted to have a program that can  work forever without them supporting forever and   they fure million is a size of that can get  small selfs suain for the interest of never   touch the principle so the principle would grow  and if you don't use it it will grow more and uh   support more project that's only was so far yes  so say you have access to a pool of money you can   use the P process and get people to move their  Technologies and be very hard on them everybody   likes to get money every uh every faculty  member is is interested in you know getting   more resources for their lab but then you can use  this process to more effectively Translate and yes   related to this you know at the Institute itself  it's that I've been influ set back I've been   influenced extensively by this process because of  the F Department which department and spending so   much time with them of how things happen and then  ni has been doing that Bally the established that   Now The Institute we have been saying want  imp and not necessarily just about medical   Technologies could be other things than medical  Technologies and then we focus on deployment   and so this process kind of helps in that how do  you think we might with your extensive experience   inel as a as theer you know the PPP director  um how do you think you might guide us in in   um effectively creating this process for The  Institute itself what could we amongst us our   faculty are in the insute you know what would we  think well I think um intention from beginning   was to come up with a process that's replicable  and it it wasn't done for one University it was   a process that was tried out in a university like  Drexel and a university like staford and there was   but pu in between and there were all kinds of  universities and maybe they just picked drexon   University just so they have a spectrum and we  were successful we were successful where a lot   of big name universities were not successful and  did not get the inval so so I think the process   has proven itself that that it's a workable  process um I think Elias Paro consults in   this area and I think that's how he makes a living  now and he would be very happy and he's as smart a   person as you can get um to you know uh get you  started um I I think it's completely reasonable   to take the process and app to other areas to  have some kind of component that's AR consult   related with local needs and local um you know  technologies that are available to you and I   think it's completely reasonable and completely  portable process that you can take from another   University and install it here do your on tweeks  to it you know as I said in you know there could   be parts that are Arkansas related and um  I think I think it's a great idea it's very   doable how important is it for us to have a very  experienced PPP direct so that was um you know   I might have been probably the least experience  um SCH program director the whole entire program   the reason Drexel reached out to me they had a  different um pter uh program director when they   wrote the application but pretty much I ran the  program to for the duration of the 10 years that   I was there and the the reason they arrived at me  was that I had experience in buying and selling   companies my experience was wasn't in agriculture  wasn't in biomedical engineering but having bought   and sold small companies and that was what was  attractive regarding me to the company they well   they knew me and I was a graduate student over  there and you know Buu yes I yes so Buu was my PhD   advisor but I never finished my PhD I got employed  and left so Banu brought the pter program to bexa   and Banu is my sister to me and um so um she knew  that I might have the horse St but she also knew   that I have bought and sold companies in other  universities um most of the cter program directors   were part of the C s in major companies so that's  what they went for they went for a member of a SE   Suite in a major medical device company uh I think  Stanford went to cofman foundation and they got a   fellow out of cman foundation and I think that  was also a good idea or even if if um if the   person that you have in mind may do a fellowship  in cman Foundation as part of you know on job   training so so different strategies uh I told you  that threel strategy was somebody that has some   entrepreneurship uh you know I went to people's  houses and introduced buyers and sellers and um   very handson uh you know very uh put together  deals at personal level um and I think that was   a good approach for them that worked out for that  uh whereas maybe a SE with person would be more   Al less uh into personal inter relationship so I  think there there's a lot that goes into thinking   about what kind of program director you would  need and maybe for our uh it would be different   uh you know you have certain funding sources  and that person might be a person that has had   success with dealing with those funding sources so  much goes into to thinking about who that person to Fantastic

2024-11-13 04:34

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