As a Ph.D. candidate in chemistry, I did not expect to start a business during my graduate career. However, through my partner’s MBA experience, we discovered a market that other companies had not widely explored. We have decided to turn our idea into a business while still in graduate school.
Leverage University Resources
Rice University offers many resources to support budding entrepreneurs, including incubators, mentorship programs, and funding opportunities. If this describes you, take advantage of programs like the Rice Alliance for Technology and Entrepreneurship and the Liu Idea Lab for Innovation and Entrepreneurship to gain access to expert guidance and funding! For example, by participating in the OwlSpark accelerator program, non-business Ph.D. students can receive mentorship and seed funding to kickstart their ventures. These organizations will also help you with idea validation, customer development, and are great resources for learning how to pitch your business or create business plans for funding at competitions at Rice and across the country!
Network with Peers and Alumni
Building a solid network of peers and alums can provide invaluable support and guidance throughout the entrepreneurial journey. Attend networking events, workshops, and alumni gatherings to connect with like-minded individuals and potential collaborators. For instance, attending events at the Ion can be an excellent way for students to meet other entrepreneurs and folks interested in entrepreneurship! The Ion also has excellent resources for prototyping, accelerators, or general networking. I enjoy attending Cup of Joey on Fridays because it’s not just about sharing a cup of coffee but also about your WHY!
Seek Business Training and Education
While pursuing a Ph.D. in a non-business related field, acquiring foundational business knowledge and skills is crucial for achieving entrepreneurial success. Enroll in entrepreneurship courses or workshops offered by Rice University's business school through programs like LILIE or Rice Alliance or online platforms like Coursera, which is free for Rice students to learn from Rice professors. I’ve been working through accounting and organizational leadership courses from the same professors who teach Rice MBA students. These have given me essential insights for launching and managing my future business.
Embrace Failure and Iteration
Entrepreneurship is a journey filled with ups and downs; failure is often a stepping stone to success. Like in your Ph.D. research, entrepreneurship is about embracing failure as a learning opportunity or a way to “fail forward,” iterating on your ideas based on feedback and persistently pursuing your entrepreneurial goals. The traits of resilience you learn as a graduate student will serve you well in business ventures!
Starting a business as a non-business Ph.D. student at Rice University requires determination, resourcefulness, and a willingness to learn. By leveraging university resources, networking with peers and alumni, seeking business education, and embracing failure, you can embark on a rewarding entrepreneurial journey.
As a non-business Ph.D. student at Rice University, I have learned a lot of technical information, making me an academic expert. With this knowledge and skills, I am confident in my ability to create impactful ventures that will benefit humanity in creative ways. My advice is to stay curious, be proactive, and don't hesitate to seek support from the university's entrepreneurial ecosystem as you pursue your entrepreneurial dreams.
Follow along with my entrepreneurial and grad school journey on X (Twitter) @CarlyGraverson, my personal blog, or LinkedIn.