Career GPS program to help displaced biopharmaceutical professionals

Entrepreneurship and emerging businesses are expected to play a major role in the economic recovery. Yet finding a place in the entrepreneurial world can be a challenge; especially if a professional is coming from a large company. BioAdvance, the University City Science Center and Wharton Small Business Development Center (SBDC) are collaborating to develop Career GPS, a program which is designed to help displaced biopharmaceutical professionals navigate the Greater Philadelphia region’s entrepreneurial career eco-system.

Career GPS – Navigating the Job Market in the Philadelphia Region’s Entrepreneurial Life Science Community, targets the broad group of life science professionals (manager and above) across the region who are seeking new employment options. The program, which is funded in part by the Delaware Valley Innovation Network, will be held on Friday, November 20, 2009 at The Wharton School of University of Pennsylvania, Huntsman Hall. Registration details will be available at www.bioadvance.com and www.sciencecenter.org beginning on October 1, 2009.

“As the recent Milken Institute study of life sciences in our region noted, Greater Philadelphia is in a unique position to redeploy displaced executives into emerging biosciences companies and new ventures and harness the region’s world-class talent to create an unparalleled global hub for new life sciences companies,” said Barbara S. Schilberg, BioAdvance CEO.

“Our goal is to redeploy the region’s rich scientific expertise to trigger growth in life sciences entrepreneurship,” added Stephen S. Tang, PhD, president and CEO of the University City Science Center. “At the same time, we can create new connections between established and emerging life sciences firms.”

Career GPS will provide attendees with education, expert dialog and resources related to a variety of career and transition options, and will highlight opportunities ranging from entrepreneurship to emerging needs within the sector. A panel of life science business professionals will discuss the skills in demand and what it takes to be part of a team in today’s fast-moving entrepreneurial environment.

In addition, the half-day session will provide life science professionals with skill mapping, career and education guidance from organizations including The Life Science Career Alliance as well as emerging bioscience companies, support organization such as CROs, and outplacement/recruiting firms.

“Nurturing the next generation of life sciences entrepreneurs and start-ups is central to the Wharton SBDC mission,” said Therese Flaherty, PhD, Director at Wharton SBDC. “Programs like Career GPS enable us to help talented and experienced individuals understand how to find their place in and contribute productively to our regional life sciences entrepreneurial ecosystem,” continued Dr. Flaherty.

According to the May 2009 Milken Institute study, the Greater Philadelphia region has a vibrant life sciences cluster with many advantages such as historical roots in the pharmaceutical industry, massive amounts of industry R&D, a world-leading talent pool, and improved availability of risk capital and entrepreneurial infrastructure. The study also notes that global pharmaceutical industry consolidation is inevitable, yet if the region’s rich life sciences human capital resources can be quickly redeployed, Greater Philadelphia could develop to become the world’s leading life sciences cluster. “The Milken study provides us with a call to action, to which we, as collaborating organizations in the development of these programs, are responding,” added Ms. Schilberg.

”BioAdvance, in working with its cluster colleagues, is serving as a catalyst in bringing together stakeholders to turn the challenge of potential downsizing at large pharmaceutical firms into an opportunity for its emerging entrepreneurial bioscience firms,” said Ross DeVol, Director, Regional Economics, Director, Center for Health Economics, the Milken Institute.

Career GPS is developed and run by BioAdvance, University City Science Center, and Wharton SBDC. It is funded by a grant from The Delaware Valley Innovation Network and We Work for Health. Additional program support is provided by The Kauffman Foundation, The Life Science Career Alliance, and the University City Keystone Innovation Zone

BioAdvance, the Science Center, University City Keystone Innovation Zone and Wharton SBDC will sponsor a second program, Entrepreneur On-Ramp, scheduled for the first quarter of 2010. Entrepreneur On-Ramp will target prospective entrepreneurs who already have an idea and/or intellectual property. The program will provide a framework for commercializing life science innovations and help entrepreneurs lay the groundwork for developing a new-venture focused network. It will also provide business contacts, initiate mentoring, and orient new entrepreneurs to the tools that are critical to moving a life science business idea forward.

. http://www.bioadvance.com/