Running a Business While Pursuing a Doctorate
Running a Business While Pursuing a Doctorate
Abstract
This article analyses the growing trend of doctoral candidates (scholar-entrepreneurs) running businesses that directly overlap with their research, where company services and thesis topics are one and the same. Framed within the context of the “triple helix” model and the push for real-world research impact, this dual path offers significant synergies. The business can function as a “living laboratory,” enabling rapid iteration and ensuring research relevance, while the research provides the business with “evidence-based” credibility. This overlap can also accelerate skill development and leverage university resources.
However, this analysis finds these benefits are matched by severe risks: heightened burnout, critical conflicts of interest threatening academic integrity, complex intellectual property (IP) disputes, and significant financial instability. Drawing on academic literature, policy analysis, and case studies, this paper argues that success in both endeavours is not automatic. It is moderated by factors including personal resilience, a supportive institutional environment (especially clear IP policies and mentorship), and the ability to maintain clear boundaries. The paper concludes that while this overlap can create a powerful virtuous cycle, it remains a high-stakes undertaking that demands careful management of its inherent ethical, legal, and personal challenges.