Some words of wisdom from yesterday’s panelists at Boston University’s Executive Networking Breakfast “Commercializing the Next Generation of Technology” in Menlo Park, CA:

1) “US needs business model innovation” (Innovation is different than invention)

2) “Market Bridging” – Always link technology to the market

3) “You don’t want a solution in search of a problem”

4) “IP is important, but not a show-stopper”

5) “There’s a lot of talk that the venture model is broken in healthcare because it takes too long to develop products, but the fundamental business model has changed”

6) “Resist VC funding until it is really needed”

Panelists:

Franco Cerrina, Boston University Chairman and Professor, Electrical Engineering; Co-founder of NimbleGen Systems, Inc

Mark Deem, ENG’88. Partner, The Foundry LLC

Marc Morgenstern, LAW’75, Managing Partner, Blue Mesa Partners

George Savage, MD. ENG’81; Co-Founder & Chief Medial Officer, Proteus Biomedical Inc

Hosted by: Kenneth R. Lutchen, Dean, College of Engineering, Boston University