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Work Options for Life Scientists Include Entrepreneurship
Life scientists have the option of starting a business as an alternative to working in academia or industry. Entrepreneurship offers a wide range of rewarding possibilities that his game will help you explore.
Starting your own biotech business is an alternative worth exploring, whether within an academic environment or independently, and whether immediately following your training or after a period of working in academia or industry. Entrepreneurship offers the opportunity to follow your creative ideas and the potential for higher income eventually. Although it typically involves a lot of hard work, especially at the outset, many scientists find it a rewarding career path. Entrepreneurs describe enjoying an exciting work environment, working closely with a team that feels passionate about their work. They describe career satisfaction from the potential for their discoveries making a difference in people’s lives.
Relatively lower salaries contribute to life sciences graduates seeking jobs in industry rather than academia (Wosen, 2022; Boone et al., 2022). Relatively few university positions are available and only a minority of scientists hired achieve tenure. Drawbacks of some industry jobs include long hours, high quotas, repetitious work, and not being able to follow your own vision. Keep in mind that you have a third option of starting a business where you have the potential for higher income, more autonomy in decision-making, and the satisfaction of turning your science discovery into a product that benefits others.
Wosen J. ‘The tipping point is coming’: Unprecedented exodus of young life scientists is shaking up academia. STAT. November 10, 2022.
Boone A, Vander Elst T, Vandenbroeck S, Godderis L. Burnout Profiles Among Young Researchers: A Latent Profile Analysis. Frontiers in Psychology. 2022;13.
When considering your career goals, consider what impacts you would like your work to have.
If you decide to start your own business, be sure to investigate and take advantage of the many opportunities available to support women-owned businesses, such as government contract money set aside for businesses owned by women, tax incentives, loan guarantees, and training and mentoring opportunities.