6 Reasons Why NIDA Chose Babson College to Host L-SPRINT

The National Institute on Drug Abuse (NIDA) is a United States federal government research institute whose mission is to "advance science on the causes and consequences of drug use and addiction and to apply that knowledge to improve individual and public health." In pursuit of this mission, NIDA has launched several programs to support innovative approaches to addiction research and treatment.

One of these programs is the L-SPRINT (Life Sciences Entrepreneurial Product Development Immersion Course for New Technologies and Solutions) at Babson College, located in the Boston metro area. Babson’s commitment to developing entrepreneurial leaders has earned it the ranking of #1 for entrepreneurship education from US News & World Report for over 25 years.?

L-SPRINT’s purpose is to provide early-stage substance use disorders (SUD)? researchers with the skills and knowledge they need to launch and run successful biotech and pharmaceutical companies. The program aims to promote entrepreneurship and innovation in the SUD field and ultimately translate research discoveries into real-world solutions.?

A bridge from innovative research to successful entrepreneurship?

Vincent Onyemah, Ph.D., a professor of sales and marketing at Babson and an L-SPRINT principal investigator, said,

Success in research and success in entrepreneurship aren’t necessarily mutually exclusive, but you don’t often see someone exhibiting both. Our L-SPRINT cohort will comprise true innovators of SUD prevention and treatment solutions who want to develop their potential as entrepreneurs. L-SPRINT will give them that bridge.”

?Why did NIDA choose Babson for the L-SPRINT program?

1. Entrepreneurial focus. Babson’s mission is to educate entrepreneurial leaders who create great economic and social value. Their respected Entrepreneurial Thought & Action? methodology aligns with the goals of the L-SPRINT program, which aims to promote entrepreneurship and innovation in the SUD field.?
2. A reputation for excellence. For more than 25 years, Babson has held the #1 entrepreneurship ranking — undergrad and graduate programs — from U.S. News & World Report. Money magazine has also named Babson the best college for business majors.?
3. Expertise in health innovation. Babson College has a dedicated health innovation initiative that supports entrepreneurs in the biotech and pharmaceutical industries. This expertise is particularly valuable for the L-SPRINT program, which is focused on supporting SUD researchers in starting and running successful biotech and pharmaceutical companies.
4. Access to resources. Babson College has a wealth of resources available to support entrepreneurs. These resources can be invaluable for L-SPRINT participants as they work to develop and launch their companies.
5. Location. L-SPRINT participants can expect difference-making interactions with VIPs in the SUD field. We’ve planned a “field trip” to one of the nation’s premier academic medical centers and research institutions, the Mass General Brigham healthcare system. There, we’ll engage in panel discussions with researchers, Innovation team members, entrepreneurs and investors from the Behavioral Health and SUD space. Their real-world insights will clarify participants’ path toward entrepreneurship.
6. Proven success. “Stepping back and thinking differently… has caused amazing things.” So said Jamie Siminoff ‘99, CEO, founder, and chief inventor of Ring. In this interview he vividly describes how all these reasons came together to power his entrepreneurship journey.

A priceless opportunity for SUD innovators to make high-value commercial connections

Wiljeana Jackson Glover, Ph.D., a Babson Associate Professor, Founding Faculty Director of the Kerry Murphy Healey Center for Health Innovation and Entrepreneurship, and an L-SPRINT principal investigator, expanded on the advantages of Babson’s resources and location:

A priority of the L-SPRINT program is CONNECTION. Innovation in the SUD prevention and treatment space is happening at institutions around the country. But the ecosystems where those solutions are commercialized and scaled are more widely distributed. We look forward to counting among our cohort SUD innovators from underrepresented communities, and helping them make the crucial connections to those ecosystems that may otherwise be beyond their reach.

By partnering with Babson College, NIDA is able to provide early-stage SUD researchers with the skills and knowledge needed to turn their research into successful companies that can make a real difference to public health.

Some L-SPRINT applicants are inspired by personal experience.

Michele Bernier is Associate Director, Programs for the Kerry Murphy Healey Center at Babson, which is coordinating L-SPRINT. She noted, “Among the applicants have been people whose own personal experiences motivated them to contribute to finding solutions to the SUD problem, while others are engaged in some fascinating research. We’re looking forward to meeting them.”

The 2023 L-SPRINT program will take place August 14-18.? Applications close April 15. Interested SUD researchers, educators, and innovators can find complete information, including links to informational webinars and the application portal, at the L-SPRINT website.