Entrepreneurship for Scientists

As a scientist, you are the pioneer taking man to new intellectual frontiers. Think about anything in the world and it was most likely a scientist who discovered it (or its basic functional principles) or invented it. The scientist, who dedicates his life to the expansion of knowledge and being reasonable in the face of populist ignorance, has become something of a zeitgeist (for more information on science as culture see www.SEEDmagazine.com or turn on the Colbert Report, which is frequented by guests from the sciences).

Science jobs are on the rise in the US and according to a study done by the National Science Foundation, science and engineering jobs have risen by 2.1 million in the last decade. But where are these jobs? Are Universities the largest employer of scientists?

The answer may surprise you: of all science and engineering degrees, only 9% work for Universities. Meanwhile, 59% work in the for-profit (corporate) setting and 13% work for the government. Only 44% of researchers with a PhD work in Universities.

Estimated corporate expenditures for 2007 were $219 billion, a 3.4% increase over the last year (according to the WSJ). Moreover, total R&D spending in the US was nearly $338 billion. This means that there is a significant demand for science and technology students that have the entrepreneurial drive to be a part of research and commercialization projects in the for-profit sector.

Think about advances in metamaterials, synthetic biology, and especially information technology. These industries owe a great deal of their advancements to for-profit, independent labs and governmental agencies that devote large amounts of budgetary spending to R&D.

Based on this, spend some time making a list of companies with R&D divisions that you might want to work for. Then, after you've made a list, polish your resume at the Career Center, and submit your application for an internship or entry-level position at one of them.