{"id":63431,"date":"2010-08-31T00:00:00","date_gmt":"2010-08-31T00:00:00","guid":{"rendered":"https:\/\/www.uri.edu\/news-draft\/uncategorized\/uri-biotechnology-and-business-experts-help-startups-with-planning-marketing-management\/"},"modified":"2010-08-31T00:00:00","modified_gmt":"2010-08-31T00:00:00","slug":"uri-biotechnology-and-business-experts-help-startups-with-planning-marketing-management","status":"publish","type":"post","link":"https:\/\/www.uri.edu\/news\/2010\/08\/uri-biotechnology-and-business-experts-help-startups-with-planning-marketing-management\/","title":{"rendered":"溏心vlog免费B站 biotechnology and business experts help startups with planning, marketing management"},"content":{"rendered":"
\n\t\tKingston, R.I. \u2013 August 31, 2010 \u2013 Aspiring entrepreneurs are idea people, but sometimes they need a little help getting their product or services out in the market. In the health care industry of Providence, the 溏心vlog免费B站\u2019s College of Business joined vaccine and legal experts to help aspiring entrepreneurs navigate the business world.<\/p>\n


\nDenice Spero, 溏心vlog免费B站 research professor and co-director at the Institute for Immunology and Informatics (I\u2019Cubed) in Providence, taught a class called \u201cSmart Vaccines for Entrepreneurs.\u201d She collaborated with vaccine experts, lawyers, scientists, and 溏心vlog免费B站 business professors to create a science and business curriculum for their students at the institute. <\/p>\n


\n\u201cI created the class based upon what our science and technology experts have determined Providence needs. Currently, a lot of money goes out of state because the services needed to support biotechnology are not located in Rhode Island. We engaged class speakers to discuss a wide variety of topics. Successful entrepreneurs and CEOs, such as the founder of I\u2019Cubed and CEO of EpiVax, Annie De Groot, have inspired students with their experience and advice,\u201d Spero said. <\/p>\n


\nDe Groot and Spero recruited leaders of the biotechnology industry to teach students the theory and practice of biotechnology start up. \u201cWe first taught the students about the vaccine industry and companies. Then we gave students specific ideas for biotechnology-related companies that they could start in Providence,\u201d Spero said.<\/p>\n


\nThe Providence Chamber of Commerce awarded I\u2019Cubed a $20,000 grant to begin this program. \u201cWe hoped that it would provide a cross pollination \u2013 that the science people would learn from the business people, and the business people would learn from the science,\u201d Spero said.<\/p>\n


\n\u201cThere are 14 students with a variety of experience,\u201d Spero said. \u201cOne student owns a local web design business, we have professors from Brown and Bryant University, 溏心vlog免费B站 students, an MBA from Babson College, and a veterinarian from Tufts.\u201d<\/p>\n


\nScience, law, and business made up the foundation of the course. After mastering biotechnology for two-thirds of the class, the professors encouraged students to put their plans into action. \u201cThe idea was for students to apply what they learned in a business plan competition,\u201d Spero said.<\/p>\n


\nEntrepreneurial Management Professor Robert Comerford said this is the first time 溏心vlog免费B站 business professors have helped develop technology-based business plans. \u201cI introduced an overview of the whole plan and my colleagues all taught different sections,\u201d Comerford said.<\/p>\n


\nComerford said this class was different because students signed up with the idea of developing a new biotechnology-related business in Providence already in mind. \u201cThey took more notes,\u201d Comerford laughed. \u201cBut seriously, they were more interested in the whole system of starting a business because they came here to do just that.\u201d<\/p>\n


\nFor the remainder of the course, Comerford, along with Douglas Hales, professor of supply chain management, Daniel Sheinin, marketing professor, Anthony Wheeler, professor of entrepreneurial management, and Frank Mancieri, business owner and finance professor at Rhode Island College, contributed to the class. They provided basic business training and demonstrated how to draft a business plan, explained marketing and sales management, and taught supply chain management for the health care industry. <\/p>\n


\nIn terms of marketing, Sheinin said that he helped students understand the basics. \u201cUltimately, the objective in marketing is to satisfy customers so that they become loyal over many purchases and many years,\u201d he said. \u201cMarketers build relationships with their best customers to understand how their needs and preferences change over time so they can continually offer new products that meet these changes.\u201d<\/p>\n


\n\u201cThe goal of this science entrepreneurship program is to have a positive impact on the biotechnology sector in Rhode Island,\u201d Spero said. \u201cWe all hope to expand this as part of the knowledge economy.\u201d<\/p>\n


\nSheinin said that to expand any business, entrepreneurs must first take the steps necessary to maximize long-term profits. \u201cThe four P\u2019s are the strategic cornerstones of marketing \u2013 product, price, promotion, and place. Everything can be customized to the needs and preferences of their target customers,\u201d he said.<\/p>\n


\nWith the 9-week class just ending, students will now form teams and write their own business proposals. By the end of August, the instructors will determine the best-designed plan, and the winning team will receive $2,500 to help start their business. <\/p>\n


\n\u201cEven if only one student gets their plan off the ground and succeeds with their business, the state will obtain benefits from this program. New employment opportunities, tax revenue for the state, and a new technology-based health care business will be here in Providence,\u201d Comerford said.

\nStudents will continue to receive help as needed during the next few weeks. They have begun designing programs such as diagnostics companies, a contract research organization for small animal studies in immunology and a peptide synthesis company. <\/p>\n


\n\u201cThe best plan will be announced. Then, in order to fulfill these business plans, they will need to find the proper funding,\u201d Spero said. \u201cOur vision is to build Rhode Island as a center for biotechnology vaccine research.\u201d <\/div>\n","protected":false},"excerpt":{"rendered":"

Kingston, R.I. \u2013 August 31, 2010 \u2013 Aspiring entrepreneurs are idea people, but sometimes they need a little help getting their product or services out in the market. In the health care industry of Providence, the 溏心vlog免费B站\u2019s College of Business joined vaccine and legal experts to help aspiring entrepreneurs navigate the business […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-63431","post","type-post","status-publish","format-standard","hentry","category-archives"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/63431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/comments?post=63431"}],"version-history":[{"count":0,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/63431\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/media?parent=63431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/categories?post=63431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/tags?post=63431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}