PMB Lunch November 1st, 2017 Erica Thomas Director of Human Resources for The BALSA Group

Outline What is BALSA? Who does BALSA work with?

What is BALSA? The BALSA Mission Provide data-driven consulting solutions to our clients to sustain their emerging technologies and businesses Provide hands-on development to our members in the business of science and technology Support, expand, and shape entrepreneurship and innovation in the St. Louis region and beyond

Why do companies hire BALSA? Experts in critical thinking Graduate students/post-docs regularly tackle large amounts of data and analyze to make concise and important conclusions Corporate quality work at a low cost Produce thorough and professional reports and presentations for our clients Experts in science and technology We work in these fields everyday and have inherent knowledge of the nuances of the landscape Creative approaches to problem solving Quick identification of gaps/problems, and provide multi-faceted solutions to achieve the clients’ goals Members of BALSA often have more skills and knowledge than they may have realized! (Go through the 4 boxes). We consistently take a problem a client has regarding their science/technology business, assess the current landscape and factors that may influence their business, and provide pointed, tangible recommendations that will help them solve their problem. TRANSITION: What exactly is the BALSA group? What are the strategies we employ to achieve our mission, and help our members develop their skills in these arenas? **Note: I structured the first 2 slides this way because I think it will be good to put the exciting stuff first! Get the trainees amped up about how awesome BALSA is. Of course, if this is awkward when we practice it we can change the order.

What is consulting? Professional problem-solving Apply the scientific method to business questions Graduate students and post-docs are uniquely suited for consulting

Client – Voice recognition app inventor How does a consulting project work? I have developed a voice recognition app for doctors. How do I start a company to sell it? Client – Voice recognition app inventor

Client – Voice recognition app inventor How does a consulting project work? I have developed a voice recognition app for doctors. How do I start a company to sell it? Development costs? Regulations? Competitors? Who will buy it? Is there demand? How much will they pay? Client – Voice recognition app inventor

Diverse group of experts Low cost (all volunteer) How does a consulting project work? Advisor Project Manager Consultants 10+ projects 3+ projects 2 projects 2 projects 0 projects (an officer) (a board member) Geneticist Chemist MBA student Neuroscientist Engineer Diverse group of experts 6 week engagement Low cost (all volunteer)

Skills are built through participation in projects BALSA’s Goals for Consultants Develop transferable skills for post-graduate professions Apply analytical thinking to real-world problems Gain exposure to alternative careers Learn how your skills can be valuable outside of science Develop practical skills in a business context Business writing Clear presentations Teamwork Time management Professionalism Networking Learn how business concepts influence science What does it take for a technology to be marketable? How can business considerations improve science outcomes? Skills are built through participation in projects

BALSA Alumni Careers By tracking the careers of our alumni, we have data supporting this statement. An equal number of BALSA alumni enter science business and support after graduation as those who enter academia after graduation. Our alumni also go on to industry-related scientist jobs, consulting, and entrepreneurship. BALSA provides skills that are applicable to a wide range of careers. BALSA has no interest in pushing consultants towards one career or another, but aims to educate consultants about the range of career options available, and help them develop skills that will be applicable to any career. TRANSITION: In order to ensure that BALSA members are well-prepared to pursue a career of their choosing after leaving Wash U, we have set specific goals for the BALSA group in terms of preparing our consultants for the next phase of their careers.

BALSA consulting projects cover many aspects of business strategy Market size/segment analysis Primary research & consumer behavior Competitor analysis Business plan writing

Who are our clients?

Different project types for different companies Strategy Tech assessment Management Clinical trials Licensing Market analysis Supply chain Primary research

Join BALSA at happy hour! facebook.com/ thebalsagroup @theBALSAgroup www.balsa.org