And you thought there was no life after clinical medicine? Fuggettaboutit. Join us at the Society of Physician Entrepreneurs on our linkedin group site (www.linkedin.com) and www.sopenet.org
The Society of Physician Entrepreneurs (SoPE) is a physician led non-profit member organization. SoPE's core mission is to help doctors who have ideas for products or services that will improve healthcare. SoPE provides education programs, a networking venue and services, including access to sources of financing that can assist them in bringing their idea to life. On a bigger stage, SoPE is spearheading an effort to promote a better understanding of the processes involved in the introduction of new healthcare related products and services and working with all stakeholders in healthcare to identify ways to improve and accelerate the process.
The Society of Physician Entrepreneurs (SoPE) (www.SoPEnet.org) is a community of interest, founded in September, 2008 under the umbrella of ENT Resources, Inc. (ENTRI), a for-profit subsidiary of the American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS) by several AAO-HNS members. Currently there are over 350 members from multiple specialties throughout the world. SoPE's vision is to accelerate physician originated biomedical innovation. The mission of SoPE is to foster scholarship in biomedical entrepreneurship and provide education, training and support; idea stage through funding, to primarily community-based physician entrepreneurs in the interest of better healthcare. SoPE membership is open to all physicians and also accepts individuals as associate members; representatives of medical device, legal, venture capital, and other firms with an interest in serving and/or supporting physician entrepreneurs. ENTRI has been providing administrative support to SoPE with the governance and direction of activities provided by a Steering Committee of physicians that I chair. SoPE has presented and sponsored a networking event at the past three AAO-HNSF Annual Meeting & OTO EXPOs. In addition, SoPE assists individual physician entrepreneurs by providing one-on-one counseling.
The response to SoPE from physician entrepreneurs and other stakeholders in physician entrepreneurship has been extremely supportive, and the common theme is "give us more;" particularly more education programs, opportunities to network, and access to service support entities and early stage funding sources. The response from physician entrepreneurs and other stakeholders in physician entrepreneurship reveals that the process for commercialization of biomedical and healthcare innovation is poorly understood and inefficient. SoPE intends to take the lead in:
• conducting research on the biomedical and healthcare innovation commercialization process,
• sponsoring conferences and events for all stakeholders in the process to identify solutions that bring needed improvements and efficiencies to the process,
• educating physician entrepreneurs and other stakeholders on the process,
• providing practical support programs for physician entrepreneurs,
• acting as a clearinghouse for physician entrepreneurs' access to support services and early stage funding, and
• providing a forum for later stage funding sources, distribution channels, and acquisition minded corporations to participate early-on in the process.
SoPE has a value proposition for each major stakeholder group:
Physician Entrepreneurs--SoPE intends to offer practical support programs to all types of physician entrepreneurs within 3 main healthcare educational tracks:
• Devices, Drugs and Diagnostics -- traditional market segment of items utilized by healthcare providers in patient care or marketed direct to consumer.
• Medical Services-- broad market segment of products and services that address in some way the cost, efficiency, quality, availability or some other aspect of healthcare.
• Healthcare IT and Telemedicine Products and Services
The support programs will be designed to serve the needs of physician entrepreneurs for information, concept evaluation and assessment, early stage financing and the full range of support services involved in commercializing innovation. In addition, SoPE will provide physician entrepreneurs with the opportunity to network with their peers and others involved in the innovation commercialization process.
Medical Device and Drug Companies (Devices and Drugs) and High Technology et al (Medical Related Products and Services)-- SoPE intends to involve these companies in programs which will provide them with access to new ideas and prospective future acquisitions, physician feedback and opinion, and a forum to share their needs and rules of engagement.
Service Support Organizations-- SoPE intends to involve service support organizations in programs which will serve as a marketing forum for them to make physician entrepreneurs aware of their capabilities.
Investors--SoPE intends to establish a professionally managed early stage investment fund and engage VC's and other later stage investors in programs which will make them aware of investment opportunities and educate physician entrepreneurs about investors' areas of interest and expectations.
Private Economic Development and Government Agencies--SoPE intends to partner with local, regional and federal agencies and not-for-profits responsible for growing and regulating healthcare innovation.
We plan to create an independent not for profit entity soon and encourage participation from any doctor anywhere in the world.. If you are looking for a place where you can learn, share ideas and make your entrepreneurial dreams come true, join us at the Society of Physician Entrepreneurs today.