Off and Running Thanks to AAO-HNS: SoPE (aka ENTRIpreneurs Club) Update
The Society of Physician Entrepreneurs (SoPE) is an organization of more than 1,400 global members that assists bioentrepreneurs in bringing their ideas to life by providing education programs, networking, products, and services, including access to sources of financing. SoPE, a 501(c)(3) foundation, is spearheading an effort to promote a better understanding of the processes involved in the introduction of new healthcare-related products and services, while working with all stakeholders in healthcare to identify ways to improve and accelerate the process of innovation. Recognizing that physicians have a need and desire to gain entrepreneurial skills, SoPE and Acclarent (Menlo Park, CA), an Ethicon and Johnson & Johnson company, have launched the first Innovation Scholar Program (ISP). In this six-month work-study program, an otolaryngologist will rotate through the innovation commercialization functions of a medical device company at the Acclarent headquarters. SoPE is currently accepting applications from otolaryngologists for a mutually convenient 2012 start date. How did all of this come about? The inaugural meeting of the “ENTRIpreneurs Club” was held at the 2008 Annual Meeting & OTO EXPO in Chicago. The first action of the 50 attendees was to change the name to the Society of Physician Entrepreneurs (SoPE), and we were off and running. The overwhelming positive feedback from the attendees the meeting made us realize we had stumbled upon something of significant and unique value, not just for physician entrepreneurs, but for all stakeholders in the healthcare and biomedical innovation commercialization process. To those who attended the 6 a.m. breakfast meeting, to ENT Resources, Inc. (ENTRI), and the AAO-HNS for-profit subsidiary, which provided administrative support to SoPE, we are extremely grateful. SoPE continued as a community of interest for the next three years, holding a networking event at each Annual Meeting & OTO EXPO. In late 2010, the SoPE steering committee, all AAO-HNS members, requested and received AAO-HNS approval to launch SoPE as a separate legal entity with no further ties to AAO-HNS. This separate legal entity permitted SoPE leadership to open its membership to all medical and surgical specialties. In January 2011, SoPE formed an independent 501(c)(6) member association, and in April 2011, formed a 501(c)(3) foundation as a supporting organization for SoPE. SoPE’s key constituency, from its inception, is the community-based, private practice physician and healthcare professional entrepreneurs. SoPE’s belief is that although this group is the source of the overwhelming majority of the innovations reaching the marketplace, they are both time-constrained and ill-prepared to venture down the entrepreneurial path. SoPE’s core mission is to help doctors get their ideas to market. Here are some of SoPE’s accomplishments in its relatively short life: Creating a global membership of more than 1,400 and with growth of about 100 each month. Launch of the first Innovation Scholar Program (ISP), a six-month work-study program for an otolaryngologist at Acclarent. Development of additional ISP programs with other medical device, biopharmaceutical, and healthcare IT companies interested in hosting physicians from other medical specialties. Launching and forming more than a dozen local SoPE chapters in the U.S., including Washington, DC; Denver; Chicago; Minneapolis; and New York. Creating international SoPE chapters in India, Nigeria, and Turkey, with chapters forming in England and Portugal. Forming SoPE affinity relationships with some of the best sources of bio-medical entrepreneurship education courses, such as World Medical Device Organization (WMDO), AdvaMED, and Medical Device Summit. If you have an interest in joining SoPE (membership is free); exploring entrepreneurship; finding out about early-stage investment opportunities; learning more about the ISP; joining a local chapter or taking the lead in forming a local chapter; or learning more about SoPE or its foundation and their activities, visit www.SoPEnet.org, call SoPE at 1-703-879-7710 or email Arlen Meyers, president and CEO at CEO@Sopenet.net or Jim Blakely, EVP & COO, at EVP@SoPEnet.net. Reference The ENTRIpreneurs Club: Your AAO-HNS Gateway to Innovation. Bulletin, 2008, August: page 27.
The Society of Physician Entrepreneurs (SoPE) is an organization of more than 1,400 global members that assists bioentrepreneurs in bringing their ideas to life by providing education programs, networking, products, and services, including access to sources of financing. SoPE, a 501(c)(3) foundation, is spearheading an effort to promote a better understanding of the processes involved in the introduction of new healthcare-related products and services, while working with all stakeholders in healthcare to identify ways to improve and accelerate the process of innovation.
Recognizing that physicians have a need and desire to gain entrepreneurial skills, SoPE and Acclarent (Menlo Park, CA), an Ethicon and Johnson & Johnson company, have launched the first Innovation Scholar Program (ISP). In this six-month work-study program, an otolaryngologist will rotate through the innovation commercialization functions of a medical device company at the Acclarent headquarters. SoPE is currently accepting applications from otolaryngologists for a mutually convenient 2012 start date.
How did all of this come about?
The inaugural meeting of the “ENTRIpreneurs Club” was held at the 2008 Annual Meeting & OTO EXPO in Chicago. The first action of the 50 attendees was to change the name to the Society of Physician Entrepreneurs (SoPE), and we were off and running. The overwhelming positive feedback from the attendees the meeting made us realize we had stumbled upon something of significant and unique value, not just for physician entrepreneurs, but for all stakeholders in the healthcare and biomedical innovation commercialization process.
To those who attended the 6 a.m. breakfast meeting, to ENT Resources, Inc. (ENTRI), and the AAO-HNS for-profit subsidiary, which provided administrative support to SoPE, we are extremely grateful. SoPE continued as a community of interest for the next three years, holding a networking event at each Annual Meeting & OTO EXPO. In late 2010, the SoPE steering committee, all AAO-HNS members, requested and received AAO-HNS approval to launch SoPE as a separate legal entity with no further ties to AAO-HNS. This separate legal entity permitted SoPE leadership to open its membership to all medical and surgical specialties.
In January 2011, SoPE formed an independent 501(c)(6) member association, and in April 2011, formed a 501(c)(3) foundation as a supporting organization for SoPE.
SoPE’s key constituency, from its inception, is the community-based, private practice physician and healthcare professional entrepreneurs. SoPE’s belief is that although this group is the source of the overwhelming majority of the innovations reaching the marketplace, they are both time-constrained and ill-prepared to venture down the entrepreneurial path. SoPE’s core mission is to help doctors get their ideas to market.
Here are some of SoPE’s accomplishments in its relatively short life:
- Creating a global membership of more than 1,400 and with growth of about 100 each month.
- Launch of the first Innovation Scholar Program (ISP), a six-month work-study program for an otolaryngologist at Acclarent. Development of additional ISP programs with other medical device, biopharmaceutical, and healthcare IT companies interested in hosting physicians from other medical specialties.
- Launching and forming more than a dozen local SoPE chapters in the U.S., including Washington, DC; Denver; Chicago; Minneapolis; and New York.
- Creating international SoPE chapters in India, Nigeria, and Turkey, with chapters forming in England and Portugal.
- Forming SoPE affinity relationships with some of the best sources of bio-medical entrepreneurship education courses, such as World Medical Device Organization (WMDO), AdvaMED, and Medical Device Summit.
If you have an interest in joining SoPE (membership is free); exploring entrepreneurship; finding out about early-stage investment opportunities; learning more about the ISP; joining a local chapter or taking the lead in forming a local chapter; or learning more about SoPE or its foundation and their activities, visit www.SoPEnet.org, call SoPE at 1-703-879-7710 or email Arlen Meyers, president and CEO at CEO@Sopenet.net or Jim Blakely, EVP & COO, at EVP@SoPEnet.net.
Reference
The ENTRIpreneurs Club: Your AAO-HNS Gateway to Innovation. Bulletin, 2008, August: page 27.