The British science industry has often failed to attract some of the most promising graduates because of long-held stereotypes. Scientists are still generally perceived as serious, mildly eccentric people who work quietly in laboratories. Graduates are understandably put off by the dull image of a static professional life stuck in a stuffy academic institution which involves little collaboration. The perception that science is entirely separate from the business world also makes people think there's little money to be made in science.
This is no longer the case. The field of British science innovation has become vastly more commercially-astute in recent years and is now attracting the attention of big investors and entrepreneurs. This is opening up opportunities for graduates who want to pursue scientific interests while also spearheading dynamic business and commerce initiatives.
More productive collaboration between universities, blue chip corporations and scientific innovators is improving the commercialisation of scientific developments. Science-based companies are learning that to really make a difference they need strong management, solid financing deals and marketing expertise to name but a few additional facets. Scientific developments are being combined with market intelligence, strong management skills, finance and quality manufacturing to create highly desirable products that are then successfully sold across the world.
CyDen is just one example of a small British technology company that is turning scientific innovation into products with real long-term benefits and enormous market potential worldwide. From its base in Swansea, CyDen makes iPulse™, a technology for hair removal and skin treatments. It uses patented innovations in intense pulsed light technology to provide commercially attractive applications for both medical and aesthetics markets, making best use of the company's intellectual property. This includes permanent hair reduction, acne treatment, the removal of lesions like thread veins and wrinkle reduction. Medical applications of iPulse™ technology currently in development include work on collagen-based structures within the human body, tooth decay identification and melanoma detection. Clinical trials for effective long-term cellulite treatments are also underway.
CyDen was only set up in 2002 and didn't get financing till 2004, yet is already distributing iPulse™ technology in 53 countries. With significant new product developments on the way, 2007 sales are projected to exceed £5million. This small company illustrates the degree to which Britain's science professionals have been rejuvenated by a more collaborative approach combined with a focus on getting maximum value from intellectual property. America is well known for its ability to turn scientific developments into commercial gains by finding novel ways to exploit academic intellectual property, but the UK is catching up fast.
A public-private initiative in Wales holds a further key to the collaborative approach, starting a quiet revolution in Wales by giving scientists a viable commercial platform. With 10 Technium centres dedicated to supporting the growth of innovative new businesses, Wales hopes to follow the example of States when it comes to profiting from innovation.
Technium helps large R&D investors locate small technology companies and in doing so fosters science and business partnerships. This approach is supported by the University of Wales and the Welsh Assembly Government who have provided significant funding to establish the Technium network. All this intelligent investment is making a palpable difference to the fates of young science companies, adding to the kudos of the industry and presenting attractive career options for business-savvy scientists. It is also making the day-to-day life of scientists more varied, with work on marketing, product development, PR, finance and intellectual property to get the most out of scientific developments.
This collaborative approach is creating more vibrant roles for people with an eye for both science and business. Careers within the field of scientific innovation are opening up to encompass new, more varied roles and experiences. There's never been a better time to stand up and say "I'm a scientist."
© Crimson Business Ltd. 2006