Note: This piece written by Dr. James Hotaling, associate vice president for research innovation and translation, originally appeared in U of U Health’s “Good Notes” blog.

Launching a business is unfamiliar territory for many faculty. Many startup biotech and health care services companies struggle with business development. It’s typically poor business decisions—not the science or technology—that result in failure. My role is to empower more faculty to create startups to move their research beyond the walls of the university.

Promise of Becoming an Entrepreneur

When the University of Utah recruited me in 2013, I was intrigued by the guarantee that I could become an entrepreneur, in addition to being a researcher and clinician. Over the past decade, my work at the U has been multi-faceted. I run an NIH-funded lab in genetics and male infertility. I created the Men’s Health Program. And I’ve spun out several companies from innovations that I developed here.

There is incredible potential at the U to build businesses around innovations. Now, in my expanded role as Associate Vice President for Research Innovation and Translation, I’m helping other faculty realize that potential. My office gives faculty access to teams of people who help them become successful.

Click here to read the rest of AVPRIT Hotaling’s piece.