Inspiring Student Entrepreneurship and Innovation

Background While student entrepreneurial interest is significantly correlated with the intention to pursue innovative healthcare ventures, many medical schools lack formal programs to nurture entrepreneurial skills. To investigate student interest in entrepreneurship and their experiences with medical innovation, the Biomedical Entrepreneurship Network at Rutgers Robert Wood Johnson Medical School engaged students nationally in a Healthcare Innovation Summit, featuring a keynote address, pitch competition, and interactive workshops with accomplished innovators. Methods A Rutgers electronic Institutional Review Board (eIRB)-approved survey was disseminated to student attendees at the summit, with questions categorized into four themes: interest/motivation, barriers to ideation and execution, support for innovation, and confidence in entrepreneurial pursuits. Responses were quantified using a Likert scale, and qualitative feedback was thematically analyzed. Results Among the 54 respondents, 100% exhibited a significant interest in healthcare entrepreneurship. Students cited the following barriers: inaccessible resources (44%), insufficient funding (51%), lack of mentorship (60%), and time limitations (82%). The quantitative thematic analyses demonstrated that students desired formal education on pursuing innovation and dedicated assistance to foster critical thinking. While students were confident in their ability to pursue entrepreneurship, they were not confident in the necessary details required for successful endeavors and avenues for mentorship. Conclusions Pursuing healthcare entrepreneurship presents numerous barriers for medical students. Integrating formal entrepreneurship education - emphasizing mentorship and connection between medical students and postgraduate trainees, funding, and critical innovative thinking - into medical curricula can empower students in the pursuit of innovation-based projects and positive change throughout their careers, enhancing access, equity, and quality of healthcare.