Stanford the school that launched a thousand start-ups. Companies across Silicon Valley -- from technology giant Hewlett-Packard to fledgling search engine Google -- grew out of research done on campus.
But in May, University officials put a new twist on the Stanford start-up connection: they spun off a for-profit business of their own. The company, e-SKOLAR, is based on a service developed in the Medical School that allows physicians to quickly search textbooks, medical journals and drug databases for up-to-date information.
Those involved in the venture say it is the first time a university has had its own start-up. Stanford owns about 60 percent of the 21-person company and will continue to play a role in its development by supplying board members, providing technical support, leasing the company office space on Welch Road and lending its prestigious name to the venture. "There have always been people walking out the door and building on technology," says Paul Lippe, the firm's CEO. "With teaching at the core of Stanford's mission, it seemed logical in this case for Stanford itself to address the demand."
The new company gives doctors all over the world access to an Internet-based service, known as Stanford SKOLAR, M.D. For an annual fee of $240 per user, physicians will be able to turn to a computer in an office or exam room, plug in a key word or phrase and pull up the latest research and news in 20 to 40 seconds. A doctor examining a child with symptoms of tuberculosis, for example, could look up research papers to help confirm the diagnosis, check appropriate drug dosages and consider the side effects.
The system also tracks the amount of time participating physicians spend doing research. Using this feature, doctors will be able to earn continuing medical education credits by keeping up to date in their field without leaving their examining rooms.
The service was developed over the last four years by a team from the Medical School and the department of computer science led by physician Kenneth Melmon, '56, professor of medicine and molecular pharmacology (who became e-SKOLAR's chief medical officer this spring). When doctors who were used to the convenience of the program left Stanford for other Institutions, they often asked if they could continue to have access. That's when the idea of spinning off a company began.
Next stop? Like any other start-up, the founders hope it's NASDAQ. Lippe says e-SKOLAR could make its initial public offering within a year.
