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BOOK/PUBLICATION REVIEW

By Neerja Sethi, PhD, Managing Editor My recommendation for this month is a comprehensive report published by the Milken Institute- Mind to Market: A Global Analysis of University Biotechnology Transfer and Commercialization, September 2006 by the MILKEN INSTITUTE. http://www.milkeninstitute.org/pdf/mind2mrkt_2006.pdf This report is focused on the University Technology Transfer process and the role of the professionals involved in making this a commercially viable model. The Biotech industry is only a “30 years” young industry. Since its early days of inception in San Francisco bay area from science originating in University labs, the trend of commercializing core technologies being developed at Universities has successfully continued. University laboratories still hold the key to research and innovation. Hence, the role of University-Industry partnerships is becoming more prominent, more financially pragmatic and sophisticated to develop high-revenue commercial products. This report is focused on the University Technology Transfer process and the role of the professionals involved in making this a commercially viable model. The report provides a very comprehensive analysis of University technology transfer performance and factors influencing performance with a focus on an Econometric model. There is a detailed chapter on University Biotech innovation pipeline which focuses on biotech patents issued in the US and their commercialization success. There is also an analysis on publication rankings at a global level. Most interesting aspect is a study focused on various countries in Europe and Asia, e.g. UK, Germany, Sweden, India, China, etc. and the commercialization of biotech patents in each country.

Book Recommendation

By Dr. Neerja Sethi, Editor The Power of Unfair Advantage: How to Create it, Build it, and Use it to Maximum Effect by John L. Nesheim, Free Press, $30.00 This book is highly recommended for technology entrepreneurs, especially for those seeking venture capital investment. John Nesheim is CEO of Nesheim Consultancy based in California. John Nesheim has consulted over 300 ventures and raised over $2 Billion in financing. In "The Power of Unfair Advantage: How to Create it, Build it, and Use it to Maximum Effect", Nesheim examines the power of "unfair advantage"-How to tell if your product has an advantage? What else is similar and can be copied? Entrepreneurs must be able to tell a compelling story around the product to spark the investors. Aside from creating an improved, newer, cheaper, faster product, other factors like the execution plan, core management, employees and expansion strategy play an important role. Nesheim offers compelling advice on how to form a startup, hire the right people, create a credible business plan, and attract venture capital. In the later sections of the book, Nesheim offers insights about tech trends and how large corporations, business schools and others exploit unfair advantages. The really valuable part of the book are the appendices that provide full-blown examples of business plans, valuation tables and graphics, discussion on marketing and sales and how to use the unfair advantage in press releases. A must read for entrepreneurs.

Book Recommendation

By Dr. Neerja Sethi, Ph.D. From the Editor's Desk: CONFIDENCE, How winning streaks and losing streaks begin and end by Rosabeth Moss Kanter (Crown, $27.50). Rosabeth Kanter is a Harvard Business Professor and a well-known Management writer. In this book Kanter discusses business examples to address important questions about what it takes to WIN in the long-term. Every industry has some organizations that are successful in a string of ventures, while others stagnate in unhealthy mediocrity or failures. In Kanter’s analysis, some groups and companies are successful not because they are exceptionally talented, but its because of the CONFIDENCE, instilled in them by their leaders to succeed. According to Kanter, CONFIDENCE is built on 3 basic foundations of ACCOUNTABILITY, COLLABORATION and INITIATIVE.

Book Recommendations

From the Editor's desk: Dr. Neerja Sethi, Editor In the last few years, we saw the field of molecular biology go through a fast evolution with genomics, real-time PCR, proteomics, siRNA technologies emerging, and some innovations taking the back-seat. Consequently, the forward-thinking biotech companies flourished, while some over-specialized companies went extinct! Keeping this dynamic business perspective in mind, my book-recommendation this month is "Seeing What's Next : Using the Theories of Innovation to Predict Industry Changes" by Clayton M. Christensen and the co-authors Scott Anthony and Erik Roth (HBS Press, $29.95). Christensen is now famous for revolutionary business ideas and strongly recommends thinking ahead. In this book, the authors write about identifying "disruptive innovations" that can determine the success of a business, having the ability to "predict changes" in a particular industry, and finally making the correct "strategic choices" to ensure the survival and prosperity of a business. Other recommended book by Clayton M. Christensen are "The Innovator's Dilemma: When New Technologies can Cause Great Firms to Fail" and "The Innovator's Solution: Creating and Sustaining Successful Growth".

Book Recommendations: also in the BusinessWeek's Top 15 Best-Seller List

From the Editor's Desk: In this issue, I am taking the liberty of recommending Books that I find interesting because of my personal experiences. -Dr. Neerja Sethi, Ph.D. The Wisdom of Crowds. Author-James Surowiecki (Doubleday Books; $24.95). Having initiated and managed projects in academia and now as an entrepreneur in the private-sector, my first-hand experience says that the times of one "smartest individual" or a "super expert" in a particular arena are over. With the rapid advances in technology and information dissemination, there is no one expert, so Group or Team Decisions are superior than those of an appointed leader. Nice Girls Don’t Get the Corner Office. Author-Lois P. Frankel, Ph.D. (Warner Business; $19.95). My personal experience says this is not a myth but an everyday reality. Promotions and career developments for women in current times are harder than ever. The 21 Indispensable Qualities of a Leader. Author-John C. Nelson (Thomas Nelson; $9.99). A good leader is a must, whether it is a productive long-term project in academia or a start-up business. This book discusses the qualities of a good leader to lead, inspire and develop trust within a team. The First 90 Days. Author-Michael Watkins (Harvard Business School; $24.95). This book is a very useful resource for those going through career transitions, which is occurring everyday now with the ever-changing, dynamic job-market and the rapid pace of advancement in technology.

Book Recommendation: Reviewed in Harvard Business Review

Author: David Bornstein (Oxford University Press, 2004) How to Change the World....Social Entrepreneurs and the Power of New Ideas Non-profit organizers are often labeled as idealistic dreamers by the business community. But this informative book reveals that the non-profits can be quite aggressive in their business strategies. The author David Bornstein, a journalist, explains the effective business strategies of the Grameen (Rural) Banks in the developing world and programs that provide electricity to the farmers in Brazil. These entrepreneurial, non-profit organizers devote themselves full-time to take on difficult business challenges and make revolutionary ideas happen. Opening and liberalization of markets in many countries have opened new business opportunities for the non-profit sector, and in many cases corporate businesses have joined in. Social entrepreneurs can support the economy by becoming market pioneers and creating profitable businesses.