The main niches for PhDs and postdocs are academia and industry. However there are trends
for choosing different career paths. One of these is science entrepreneurship. Though
transitions are tough, they are not impossible. However, a strategic approach to the move is
essential. The field of entrepreneurship is the scholarly evaluation of the discoveries and
exploitation of opportunities to create future goods and services for society. An advanced
degree alone does not necessarily help to reach these goals. A set of cognitive and non-
cognitive skills such as the ability to identify opportunity, build a business plan, hone the
communication and fund raising skills, take calculated risks and persist through failure should
be developed. Also scientists will need to partner with talented people – each talented in a
different way who mesh well together to launch a start-up.