Science and engineering graduate education rarely offers the necessary training to fully prepare graduates for careers in non-academic research and leadership positions. Tulane University’s IGERT Bioinnovation PhD Program challenges this paradigm through an educational approach that partners science and engineering research with training in entrepreneurship and regulation. Bioinnovation Fellows benefit from an interdisciplinary environment that spans Tulane’s Schools of Science & Engineering and of Medicine while they participate in cutting-edge translational doctoral research projects. Fellows also must complete a cadre of advanced science and engineering courses along with several core business and law classes that culminate in the International Business Model Competition. In addition, they participate in a summer-long internship at the FDA to learn the regulatory requirements for bringing a biomedical technology to market. Tulane’s Bioinnovation PhD Program strives to prepare the next generation of students to lead the creation of innovative, cost-effective solutions to complex biomedical problems.