FAQ

Frequently Asked Questions

Lester Entrepreneurial Scholars Program
The University of Texas at Austin College of Pharmacy


What is entrepreneurship?
Why should I apply to this program?
Who can apply to the program?
What counts as a gateway entrepreneurial experience?
If I have completed a previous internship, does that count as a gateway experience?
Are grades an important consideration?
When can I apply?
When is the application due?
Who reviews the applications?
What are the criteria for selection?
When does the program start and how long does it last?
Can I receive credit hours for this?
Is there any written report required by the recipients?
Is there a financial stipend for recipients?


What is entrepreneurship?

Entrepreneurship involves having the ideas, initiative and and capacity to develop a new business venture that offers an innovative product, service or process that improves upon what already exists.

Why should I apply to this program?

The Lester Entrepreneurial Scholars Program is designed to prepare our students, in the professional and graduate programs, to develop entrepreneurial and innovative leadership and thinking skills to tackle healthcare issues in innovative new ways. The Lester Entrepreneurial Scholars will have access to a variety of resources, typically not available to students.

Who can apply to the program?

The program is open to College of Pharmacy Pharm.D. and Ph.D. students and is designed to foster entrepreneurial thinkers and leaders who have demonstrated entrepreneurial experiences. Pharm.D. students must be in their P2 year to apply to participate during P3 year.

What counts as a gateway entrepreneurial experience?

There are many formal courses, both on and off campus, including Pharmaceutical Entrepreneurship (PHR261J/PHR280M), business school courses (Texas Venture Labs) and Engineering. In addition, employment and internships in an entrepreneurial/startup environments, such as the Austin Technology Incubator would be considered. These are suggested experiences. The application review committee will be open to entrepreneurs who haven’t been able to complete a gateway experience, but who could complete one during the program.

If I have completed a previous internship, does that count as a gateway experience?

If the internship focused on entrepreneurship, it would be considered as a gateway experience.

Are grades an important consideration?

Successful applicants need to be academically sound, however, GPAs are not a critical element in the decision making process.

When can I apply?

Please see the application page.

When is the application due?

Please see the application page.

Who reviews the applications?

A committee comprised of academic, business and entrepreneurial partners will review the applications and participate in the final selection of the Lester Entrepreneurial Scholars.

What are the criteria for selection?

The application centers around the applicant proposing the initiation of or continuation of an entrepreneurial project an the impact it will make on the patient experience and/or healthcare outcomes.

When does the program start and how long does it last?

Each Lester Entrepreneurial Scholar will be given the flexibility in timing based on the scope the project, not to exceed their tenure as a student.

Can I receive credit hours for this?

Each of the selected Lester Entrepreneurial Scholars will enroll in various courses giving you elective credit.

Is there any written report required by the recipients?

Yes, a written summary and/or presentation of the entrepreneurial experience will be expected at the conclusion of the experience.

Is there a financial stipend for recipients?

The Lester Entrepreneurial Scholars program is not a traditional program; it is an entrepreneurial experience. Funds are available to support the proposed projects and could include travel.

What about Intellectual Property?

The University of Texas System Rule 90101: Intellectual Property, Sec. 6 Students and Intellectual Property, states:

A student enrolled at a U. T. System institution, such as in an undergraduate or graduate degree program or certificate program, including a postdoctoral and predoctoral fellow, owns the intellectual property he or she creates (a) in courses, (b) during extracurricular activities, and (c) while using the resources and facilities of U. T. System institutions commonly provided for a student’s use and for which a student has paid tuition and fees, unless:

6.1

The student is also an employee of the U. T. System or any U. T. System institution and the intellectual property is developed within the course and scope of his or her employment, in which case the provisions of this Rule relating to employees shall apply;

6.2

The student works on a work-for-hire or institutional project as described by Section 8, in which case Section 8 governs that work;

6.3

The student participates in a research project where any intellectual property created under that project has already been committed to, or encumbered by an agreement with, a governmental, philanthropic, corporate or other sponsor, including a sponsor as described in Section 12.1; or

6.4

The student jointly creates the intellectual property with a non-student, in which case this Rule (other than Section 6) and applicable law dictate ownership of the intellectual property as if the student was a non-student described in Section 3.

See full rule at: https://www.utsystem.edu/board-of-regents/rules/90101-intellectual-property


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