ELITE Entrepreneurial Fellow, Venture Lab Healthcare

The Wharton School

29d•Hybrid

About The Position

The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Penn’s distinctive interdisciplinary approach to scholarship and learning. As an employer Penn has been ranked nationally on many occasions with the most recent award from Forbes who named Penn one of America’s Best Large Employers in 2023. Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play. The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more. Wharton School Overview Founded in 1881 as the world’s first collegiate business school, the Wharton School of the University of Pennsylvania is shaping the future of business by incubating ideas, driving insights, and creating leaders who change the world. With campuses in Philadelphia and San Francisco, Wharton has over 850 staff, a faculty population of more than 235 renowned professors, and 5,000 undergraduate, MBA, executive MBA, and doctoral students. Each year, 13,000 professionals worldwide advance their careers through Wharton Executive Education’s individual, company-customized, and online programs. More than 104,000 Wharton alumni form a powerful global network of leaders who transform business every day. Wharton is home to a dynamic staff population representing a rich array of backgrounds, expertise, and cultures. To learn more, visit www.wharton.upenn.edu. Venture Lab, the student entrepreneurship center at the University of Pennsylvania, supports students, founders, and innovators across all twelve schools. Venture Lab delivers educational programming, resources, and flagship University-wide initiatives that fuel entrepreneurial success. The Emerging Leaders in Healthcare Innovation, Technology, and Entrepreneurship (ELITE) Fellowship is a one-year, full-time post-graduate commercialization fellowship jointly delivered by Venture Lab and Penn Health-Tech (PHT). ELITE Fellows serve as entrepreneurial leads for University-developed health technologies, working closely with Penn faculty innovators, Children’s Hospital of Philadelphia (CHOP) investigators, industry partners, and investors. Fellows gain hands-on experience in healthcare innovation, technology development, commercialization strategy, and venture creation while contributing directly to advancing a Penn or CHOP health-tech project toward translation and market readiness. The ELITE Entrepreneurial Fellow serves as a key commercialization contributor within Penn’s healthcare innovation ecosystem, advancing high-potential technologies developed across Penn and CHOP toward translation, licensing, or venture formation. As a core member of the ELITE Fellowship program, the Fellow drives the strategic, analytical, and operational work required to transform early-stage scientific or clinical discoveries into commercially viable solutions. Under the joint leadership of Venture Lab and Penn Health-Tech, the Fellow functions as the entrepreneurial lead for a vetted health-tech capstone project, a structured, real-world commercialization project assigned to each Fellow. In this role, the Fellow conducts market discovery, engages directly with clinicians and end users, assesses product and regulatory pathways, evaluates intellectual property considerations, and develops go-to-market strategies. Fellows collaborate closely with faculty innovators, project teams, and regulatory, IP, and industry advisors to de-risk technologies and build clear commercialization pathways. As entrepreneurial leads, Fellows exercise project leadership, including drafting and directing commercialization milestones, managing external consultants, and collaborating with faculty innovators and Penn Health-Tech leadership on key decisions. Beyond project work, the Fellow participates actively in Penn’s broader health-tech community through monthly seminars, investor roundtables, workshops, and Venture Lab programming, and by engaging with external stakeholders such as investors and industry partners. Fellows contribute to a collaborative, learning-oriented environment while gaining hands-on experience in innovation management, venture development, and healthcare commercialization. The Fellow reports directly to the Senior Director of Healthcare Strategy and receives additional guidance from Penn Health-Tech leadership and faculty innovators. This role requires strong analytical skills, comfort with ambiguity, and the ability to synthesize technical, clinical, and commercial insights into actionable strategies. Through this year-long experience, Fellows help accelerate the advancement of Penn- and CHOP-developed health technologies while receiving structured mentorship, education, and exposure to the full continuum of healthcare innovation. This is a full-time, limited-term position that is contingent upon funding. The position is for one (1) year, with the possibility of extending for one (1) additional year, subject to review after the first year. The start date for this position is August 1, 2026. Position is based on-site in Philadelphia with hybrid flexibility consistent with Wharton’s hybrid work policies. Work is performed in an office setting with regular in-person engagement across Penn, CHOP, and partner sites. Occasional evening or early-morning commitments may occur due to events, seminars, or meetings with external partners. Some travel may be required to attend conferences, site visits, or ecosystem engagements. This is a full-time, 12-month fellowship with the possibility of one additional 12-month extension (maximum of 24 months total), subject to performance, project fit, program needs, available funding, and required University/HR approvals.

Requirements

Master’s degree (e.g., MS, MBA, MPH), doctoral degree (e.g., MD, PhD), or equivalent training in business, engineering, life sciences, public health, clinical fields, or related disciplines.
Strong analytical and problem-solving skills with demonstrated interest in health innovation or technology commercialization.
Excellent communication skills, including written, verbal, and presentation skills.
Ability to work independently, manage multiple projects, and collaborate within cross-functional, fast-paced environments.

Nice To Haves

A range of 2-5 years of professional, technical, consulting, clinical, entrepreneurial, or research experience in health-tech, medical devices, biotechnology, digital health, or related healthcare and/or technology sectors.
Experience in early-stage innovation, design, prototyping, consulting, venture analysis, regulatory strategy, technology transfer, or startup formation.
Familiarity with commercialization processes, including market research, IP evaluation, or regulatory considerations.

Responsibilities

Lead the commercialization strategy for assigned Penn or CHOP technologies by developing and executing structured project plans spanning unmet need validation, value proposition refinement, market analysis, and strategic prioritization.
Conduct stakeholder discovery across clinicians, patients, technical teams, investors, and end users to inform product requirements, workflow integration, and early go/no-go decision-making.
Perform market analyses, competitive assessments, workflow evaluations, and early financial modeling to guide product direction and commercial feasibility.
Collaborate with innovators, technical teams, and external partners throughout concept evaluation, prototyping, risk identification, and milestone planning to advance technologies toward translation.
Coordinate with Penn Center for Innovation (PCI), PCI Ventures (PCIV), CHOP’s Office of Technology Transfer, and external consultants to support IP landscape evaluations, invention disclosures, and patent-related activities, and execution of recommended regulatory and reimbursement strategies (including Q-Sub planning and early claims considerations).
Develop high-quality commercialization materials, including pitch decks, milestone-based budgets, commercialization plans, proposals, and fundraising briefs, that outline early funding strategy (e.g., SBIR/STTR, early venture interest, partnership development).
Prepare and deliver clear, persuasive presentations to leadership, faculty, partners, and investors, translating technical opportunities into compelling commercial narratives.
Engage with key stakeholders across Venture Lab, Penn, and CHOP at events, seminars, workshops, and meetings.
Participate fully in all Fellowship elements, including workshops, didactics, mentorship sessions, investor meetings, and cohort activities, and contribute to ongoing program development, peer learning, and community-building initiatives.

Benefits

Penn offers comprehensive medical, prescription, behavioral health, dental, vision, and life insurance benefits to protect you and your family’s health and welfare.
You can also use flexible spending accounts to pay for eligible health care and dependent care expenses with pre-tax dollars.
Take advantage of Penn's exceptional tuition benefits. You, your spouse, and your dependent children can get tuition assistance here at Penn. Your dependent children are also eligible for tuition assistance at other institutions.
Penn offers generous retirement plans to help you save for your future. Penn’s Basic, Matching, and Supplemental retirement plans allow you to save for retirement on a pre-tax or Roth basis. Choose from a wide variety of investment options through TIAA and Vanguard.
Penn provides you with a substantial amount of time away from work during the course of the year. This allows you to relax, take vacations, attend to personal affairs, recover from illness or injury, spend time with family—whatever your personal needs may be.
In partnership with Genworth Financial, Penn offers faculty and staff (and your eligible family members) long-term care insurance to help you cover some of the costs of long-term care services received at home, in the community or in a nursing facility. If you apply when you’re newly hired, you won’t have to provide proof of good health or be subject to underwriting requirements. Eligible family members must always provide proof of good health and are subject to underwriting.
Penn is committed to supporting our faculty and staff as they balance the competing demands of work and personal life. That’s why we offer a wide variety of programs and resources to help you care for your health, your family, and your work-life balance.
Penn provides an array of resources to help you advance yourself personally and professionally.
As a member of the Penn community, you have access to a wide range of University resources as well as cultural and recreational activities. Take advantage of the University’s libraries and athletic facilities, or visit our arboretum and art galleries. There’s always something going on at Penn, whether it’s a new exhibit at the Penn Museum, the latest music or theater presentation at the Annenberg Center, or the Penn Relays at Franklin Field to name just a few examples. As a member of the Penn community, you’re right in the middle of the excitement—and you and your family can enjoy many of these activities for free.
From arts and entertainment to transportation and mortgages, you'll find great deals for University faculty and staff. Not only do Penn arts and cultural centers and museums offer free and discounted admission and memberships to faculty and staff. You can also enjoy substantial savings on other goods and services such as new cars from Ford and General Motors, cellular phone service plans, movie tickets, and admission to theme parks.
Flexible work options offer creative approaches for completing work while promoting balance between work and personal commitments. These approaches involve use of non-traditional work hours, locations, and/or job structures.
Penn offers a forgivable loan for eligible employees interested in buying a home or currently residing in West Philadelphia, which can be used for closing costs or home improvements.
Penn will reimburse eligible employees on qualified expenses in connection with the legal adoption of an eligible child, such as travel or court fees, for up to two adoptions in your household.