Spartan MD Invests in the Next Generation of Physician-Innovators with Landmark Scholarship Gift

November 11, 2025

Renowned dermatologist and researcher Dhaval Bhanusali, MD (CHM ’10), has established a first-of-its-kind scholarship for Michigan State University College of Human Medicine students interested in entrepreneurship and health innovation. 

The two-time Spartan alum pledged his largest gift to MSU to create the Bhanusali Innovation Scholars program. The full tuition scholarship for MD students is paired with support services through the MSU’s Burgess Institute for Entrepreneurship & Innovation. 

“I dreamt big as a medical student. At MSU, I found a passion for dermatology, research and entrepreneurship,” said Bhanusali. “I’m really excited to create an opportunity to inspire the next generation of physicians to chase their dreams.” 

Drawing upon his own entrepreneurial successes, Dr. Bhanusali will personally mentor the program’s scholars. He owns Hudson Dermatology and Laser Surgery in New York City, launched Fast Beauty Co., the first skincare line produced by Amazon’s in-house accelerator program, built the largest pharmatech company in Dermatology (Skin Medicinals) and formulates forth celebrity skin care lines from Hailey Bieber (rhode) and Martha Stewart (Elm Biosciences).   

“We are deeply grateful for this extraordinary gift and commitment. Dhaval’s generosity will open doors for future physicians who might not otherwise have the means to pursue their dream of becoming a doctor,” said Supratik Rayamajhi, MD, interim dean of the College of Human Medicine. “Equally meaningful is his pledge to give his time and mentorship — an invaluable investment in guiding and inspiring the next generation of Spartan MDs.”  

The Burgess Institute, a national leader in entrepreneurship education, equips Spartans with the entrepreneurial mindset, real-world experience, and the community they need to create meaningful change. Through structured programming, one-on-one venture coaching, startup funding pathways, and access to experienced mentors and alumni founders, students are empowered to build something bigger with purpose, passion, and a team that’s got their back. 

As part of the Bhanusali Innovation Scholars program, recipients will receive direct support from the Institute, including tailored resources and guidance in health innovation. Additionally, scholars will benefit from Dr. Bhanusali’s mentorship, offering a direct pathway to explore the intersection of medicine and entrepreneurship. 

“Dr. Bhanusali is a visionary leader who not only pushes the boundaries of medicine but also creates pathways for others to innovate alongside him,” said Laurel Ofstein, PhD, senior director of the Burgess Institute. “This first-of-its-kind scholarship will attract students driven to change the world. Through the College of Human Medicine’s medical expertise, the Burgess Institute’s entrepreneurial support, and Dr. Bhanusali’s personal mentorship, scholars will be equipped to reshape the future of health care.” 

Dr. Bhanusali is a 2005 alum of the College of Natural Science and Honors College. After being admitted to medical school at 17 years old, he graduated from the College of Human Medicine in 2010. Bhanusali completed his residency at Mount Sinai, where he now serves on the faculty. He received the MSU Young Alumni Award in 2019. Dr. Bhanusali has been named one of Allure’s A-List for people changing the beauty world, a New York Times Superdoctor, the American Academy of Dermatology - Patient Care Hero of the Year, and a Crain’s NY Top 25 Healthcare innovator.