What happen when a novel discovery has been made? What happen when an ingenious theory has been proposed?

Enormous amount of research can be done in laboratories each day. But, do they continue to stay on top of laboratory benches, in the brilliant minds, or simply go unnoticed? What does it mean to the public at large, when these do not get translated to the market?

The answers are seemingly obvious. Although there is definitely a need for pure scientific research, we must also be commercially astute to ensure that the public get value for money. Thus, these excellent scientific skills have to be commercialized.

Research mean scientific advancement; commercialization means business and management.

There must be some form of transfer from the labs into the business world. However, considering Science and Business separately, one will realize that there is a conflict between these two different fields. While Science emphasis on evidence-based predictions, Business focus on making educated guesses. To the scientific world, everything is black and white, which is opposed to the business world, where many are areas of grey. Nonetheless, the real world is demanding for individuals who can deal with both. Only then, we will see a bridge between these two differing field, thereby capitalize on the advantages of both aspects to bring about the greatest benefit to the public ultimately.

As rightfully highlighted by Fiona Reid, director of the Oxford Science Enterprise Centre at the University of Oxford’s Saïd Business School, we need “people who can speak both the language of science and business”. There is an increasing demand for scientists and researchers with credible business skills, which will enable them to emerge as a valuable commodity in both academia and industry.

According to Mr Philip Yeo, advisory board chairman of Nanyang Business School (NBS), scientistis and those with PhDs need to be better equipped with business management skills for them to be able to lead biotechnology companies. “The scope for biotech is huge. And I can safely say that anyone would prefer a scientist or researcher to head a biotech company,” said Mr Yeo . This concern was raised as science researchers usually lack the business management skills, to close the leadership gap. (Press release, 30 January 2009)

With this greater aim in mind, many institutions around the world are hastening their effort to aid researchers as they assume greater role in translating their scientific mind to the business world. To name a few, University of California Davis is organizing its management school to incubate the best scientific ideas at the campus with some business acumen. In addition, NBS is also looking at starting a management or master’s program in business specifically designed for researchers and doctorates in Singapore.

Ultimately, the goal is to make practical uses of their researches.

Just by having the scientific brain, is it good enough?

Photo: Flickr/42-18751014