Scientists as Entrepreneurs: informal discussion
Scientists as Entrepreneurs: informal discussion, please come prepared with questions as the speaker prefers an interactive session rather than a monologue.
Venue: Room 187A Cullen, Baylor College of Medicine, One Baylor Plaza, Houston 77030.
Time: 4pm onwards
Date: July 24th THURSDAY
Speaker: Richard M. Scruggs
President
Salient Pharmaceuticals Incorporated
Principal
Winston Sage Partners
Director
Center for New Ventures and Entrepreneurship
Mays Business School, Texas A&M University
Mr. Scruggs' unique background includes hands-on business, education, technology commercialization and economic development experience. His work has included activities in industries as diverse as IT, life sciences, professional services and agriculture.
Currently he is president of Salient Pharmaceuticals, a start-up in the life sciences arena. The Company's first product will be a drug to mitigate some of the side effects of cancer therapy. The Company recently received the FDA's approval to being trials at MD Anderson Cancer Center.
He is also principal with Winston Sage Partners, a company formed to own and operate companies as well as provide consulting services. He helps manage the Company's investments and provides consulting services to its clients. Representative client work includes:
Location and consummation of two acquisitions for an energy software client. Identification of potential acquisitions for a chemical reclamation company. Consulted on the transformation of an IT consulting organization from targeting start-up companies to a more sustaining model of services. Assisted with the development of business plans for two medical device companies.
In addition to his roles with Salient and Winston Sage, Mr. Scruggs runs Texas A&M University's Center for New Ventures and Entrepreneurship. In this role, he consults to students, faculty and Texas businesses on issues related to starting and growing businesses as well as on M&A and financing transactions. At A&M, he has been involved in ground breaking activities such as consulting on three spin off companies and the formation of a student-led corporation.
Prior to Winston his current roles, he spent over 20 years in the systems integration business. He was the founder, CEO and Chairman of Align Solutions Corp., one of the first Internet professional services firms. In 1999, Align was recognized as the fastest growing private company in the Houston area and Mr. Scruggs was honored as the Ernst & Young Entrepreneur of the Year. He led the Company's growth strategy which was driven by a combination of organic and acquisition-based growth. Align was bought by Luminant Worldwide Corporation in September 1999 and Mr. Scruggs helped take the company public. He served as Vice-Chairman and Executive Vice President of Luminant for two years. Prior to his Align and Luminant experience, he worked with Andersen Consulting, BSG Alliance/IT and Perot Systems. Mr. Scruggs has experience in all aspects of business operations including executive leadership, sales, marketing, mergers and acquisitions, investor relations and client service. He currently serves on the Board of Directors for the Houston Technology Center and multiple private companies. He is a past president board chairman of the Houston Angel Network. He also serves on the board or advisory board of several private companies. The Houston Texas A&M Club recently recognized him as the Houston Outstanding Aggie for 2007.
Mr. Scruggs holds a BS in Chemical Engineering (1977) and a Masters of Business Administration (1979) from Texas A&M University. He is married to Cindi Scruggs and has two daughters.