From Research to Reality: Insights from the Online Research Pathways Meetup 🤓
"I didn't want just to learn new things to improve my skills during my PhD; I wanted to translate my research findings into a practical product."
- Dr Nasim Sabahi
In the dynamic realm of innovation and entrepreneurship, the path from research to real-world application is a journey marked by both, challenges and triumphs. The UNSW Research Pathways Meetup is a monthly gathering specifically designed to bridge the gap between academia and entrepreneurship to showcase success stories, share insights, and foster collaborative connections. It is free and specifically designed for the UNSW researcher and academic community.
For the month of April, we had Dr Nasim Sabahi and Dr Anthony Sunjaya join us for a conversation.
Nasim Sabahi- Nasim's journey into entrepreneurship began while she pursued a PhD in Mechanical and Manufacturing Engineering at UNSW. Her research in regenerative medicine led to the birth of SmartPoly, a groundbreaking initiative aimed at revolutionising bone tissue engineering through innovative smart polymer materials and 3D printing technology.
Anthony Sunjaya- A Research Fellow at TGI Digital Health and Clinical AI, he is a medical doctor passionate about translating research into impactful solutions. His venture, BantingMed, focuses on revolutionising chronic disease management, particularly in type 2 diabetes.
The Inspiration
The session started with a deep dive into the genesis of the panellists' ideas.
Anthony: BantingMed was inspired by observations in clinical practice, where a significant portion of diabetic patients faced challenges in their management. Recognising the pressing need for more effective solutions, we journeyed to bridge the gap between research and practical intervention. "We saw that one of the gaps is that the resources are not always appropriate for the patients, and also, there are just too many patients to manage manually."
Nasim: The journey with SmartPoly was fuelled by a passion for research and a deeply personal connection to regenerative medicine. Witnessing the struggles of family members grappling with complex bone fractures and diseases ignited a desire to innovate in this space, ultimately leading to the development of SmartPoly's technology.
Navigating Challenges and Seizing Opportunities
Nasim: The journey from ideation to realisation needed meticulous market analysis, validation, and robust customer discovery. Engaging with orthopaedic surgeons, potential investors, and other stakeholders who can provide investment in the project is a challenge. "The biggest challenge wasn't the technology itself, but how to sell your product and convince potential investors to invest in it; selling the idea that you are in the right position to make it happen and bring it to the market."
Support Systems:
Anthony: UNSW Founders proved to be a beacon of support, providing invaluable resources, mentorship, and opportunities for skill enhancement. Additionally, cultivating a robust network of peers, mentors, and collaborators proved indispensable in navigating the intricate terrain of entrepreneurship. "I think the most extensive learning is really getting experience. The next best thing is to learn from other people's experiences. So, you don't make the same mistake, and that's what you can only get by attracting and having a startup ecosystem. And that's what I got from UNSW Founders."
Lessons Learned and Words of Wisdom
Q: Reflecting on your experiences, what advice would you offer to aspiring entrepreneurs venturing into research-based startups?
Anthony: He advises embracing the journey, embracing the challenges, and gleaning insights from successes and setbacks. “Remember that entrepreneurship is a continuous learning process, and resilience is key to surmounting obstacles along the way”.
Nasim: "First of all, work on something you are passionate about. You need to make sure you are really passionate about it because if you don't love it, you're going to give up, and the rate of failure is too high.” Passion, coupled with rigorous market analysis and customer discovery, forms the bedrock of success in research-based startups. Conducting thorough research, identifying unmet needs, and gauging market demand are imperative steps in the journey towards impactful innovation.
Empowering the Next Generation of Innovators
Q: How crucial was the support provided by the University in catalysing your entrepreneurial journey?
Nasim: UNSW's unwavering support, spanning from research opportunities to entrepreneurial programs such as UNSW Founders, played a pivotal role in propelling SmartPoly forward. The resources, mentorship, and collaborative ethos fostered by the university community were instrumental in our progress. "One of the best decisions I made was participating in UNSW Founders programs; the Peter Farrell Cup and 10x Impact Accelerator program really helped. All those experiences were fantastic for me to improve my entrepreneurial skills and connect with professionals who were brilliant mentors and entrepreneurs."
Anthony: The University's support and initiatives, like the Tyree Institute for Health Engineering, facilitated crucial connections, provided resources, and bolstered our entrepreneurial endeavours. Leveraging these institutional resources proved indispensable in navigating the complex landscape of entrepreneurship. "If you are in the digital health engineering field, a good advice is to reach out to the Highway Institute; they have great programs to support you. Also, at the University, other researchers have succeeded in translating their research. You can reach out to them; I am sure they will be happy to help."
Intellectual Property (IP) Ownership and the Spin-out Process
Q: Did your company need IP owned by the University or collaborators? And what was your experience with understanding the spin-out and licensing process?
Anthony: IP ownership can vary depending on the nature of the project and its funding sources. Generally, if a student leads a project as part of their PhD research, the IP tends to be owned by the student. However, the specifics can differ based on factors such as funding and institutional policies. "My advice is to engage with the knowledge exchange department to clarify the IP ownership for each specific case."
Nasim: Our journey with IP has been intertwined with the support received from UNSW. While we have benefited from grants and resources provided by the University, we are currently in the process of IP protection. UNSW, along with my PhD group, supervisors, and myself, are stakeholders in this IP. For research-based startups originating from projects funded by institutions like UNSW or the government, these entities often have a stake in the IP.
Sustaining Income While Pursuing Innovation
Q: How do you make a living while working on your ideas to develop your startup?
Nasim: Securing grants and funding is crucial for sustaining the journey from idea to implementation. In the interim, "I'm balancing my entrepreneurial pursuits with part-time research work on similar projects." Additionally, "I'm actively writing research proposals and grant applications to secure funding for the next phase. Governmental grants like the ARC Grant can provide substantial support, enabling startups to refine their products and confidently approach potential investors."
Anthony: Maintaining a stable income is paramount, especially during the first stages of a startup. "Personally, I continue to hold clinical and research appointments, ensuring a steady income stream." "It's essential to assess your financial situation and avoid quitting your job prematurely unless you have adequate financial support."
The Online Research Pathways Meetup served as a testament to the power of collaboration, innovation, and perseverance in transforming groundbreaking research into tangible solutions that shape the future.
If you want to participate and learn more about how researchers have succeeded in turning their findings into startups, save the date for the upcoming session on May 16th. Head to the link and register! Don't miss this opportunity.