When venture capitalist Robert Swanson, and biochemist Dr. Herb Boyer each put in $500 to start Genentech in 1976, it could hardly be said that they knew what they were getting into, or how they were going to make their company successful. [...]
You may be a Professor or Practicing Physician at a University or Research Institution and ask the question “How can I start a biotech company if I don’t really want to run it?” Don’t worry! You don’t have to be [...]
What is the first thing a biotech entrepreneur should do when thinking about formally starting their company??? One of the first things is to talk with an experienced attorney who has worked with start-up biotechnology companies. Too many entrepreneurs say they [...]
Determining Valuation for Early and Latter Development-Stage Biotechnology Companies – All biotech entrepreneurs at some point must address the question “how much is your company worth?” The answer determines the slice of equity for yourself, employees, and current and future [...]
The lifeblood of a young biotech company is cash. Without capital, the greatest of ideas get nowhere. The biotech entrepreneur must successfully identify and access consistent sources of capital over the life of their organization in order to transform their [...]
Sometimes people make simple things complex. However, most of the time we make complex things impossible. George Whitesides has a knack for making complex things seem easy. He is a professor of chemistry at Harvard and a serial entrepreneur. Whitesides [...]
A recent report from Ernst and Young acclaimed that the biotechnology industry finally reached profitability for the first time in history with a net income of $3.9 billion in 2009 (Beyond Borders: Global Biotechnology Report 2010). This is a significant [...]
Most would-be entrepreneurs believe that they will one day start a company, however they usually don’t know how. Starting a company cannot be haphazard. Beginning a company requires significant planning and many events must simultaneously converge in order to be [...]
WHAT IS IT... that propels some entrepreneurs to succeed and other to fail? Defining Success and Failure In order to talk about the traits of successful entrepreneurs, we must first start with a better understanding of “success” and “failure”. Success is often erroneously defined as—everything you do produces a favorable outcome. If “success” is equated with never having an idea that did not work, never having a business shut-down, or never encountering insurmountable product development problems, then there are very few successful entrepreneurs in this world, and it is near certain that you too will not be “successful”.
Most technically-oriented individuals believe that once their beloved product, (which is of great technical value) reaches commercialization, multitudes will clamor to buy their product or service. This nearsighted condition is termed “entrepreneurial myopia”. It is an ocular disease notorious for destroying promising enterprises. Entrepreneurial myopia is highly contagious, and the individuals most susceptible to this debilitating condition are typically those employed within the same organization.