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Explore the Entrepreneurship.org Resource Center to find resources. Designed with entrepreneurs in mind, our resource center allows you to find materials to grow great ideas.
A life science company's business model is important to its success. Read more about validating a business model.
Global medical technology executives place a high value on quality, and it's that consistency of quality that keeps them up at night. Read more about the issue of quality in outsourcing.
At age 25, Laura Sanko was a founding member of a startup that raised $3.5 Million from some world-famous investors and the Founder’s Fund. The business model was simple: a website that rented high-end jewelry for special occasions for a fraction of the retail value of each piece. Three years later, the investment money was all gone and while the site continued to operate, it had failed to meet the investors’ expectations.
Three years ago, Jason Bhan, MD, a family practitioner, went into business with a cousin—Sundeep Bhan, a serial entrepreneur—and a friend, Destry Sulkes, also an MD. The three healthcare entrepreneurs founded Medivo, which developed tools to track symptoms, explain lab results, and provide personalized health information.
There’s no silver bullet for becoming a successful life science entrepreneur. But at a session on entrepreneurship and innovation at the FutureMed conference at Singularity University in the Silicon Valley last week, three panelists shared their tips on achieving entrepreneurial success.
Dr. Todd O’Brien has additional challenges beyond those encountered by most startup life science CEOs. The 48-year-old podiatrist still sees patients even while developing his latest innovation: an electronic tuning fork for measuring diabetes-related nerve damage in people’s feet. He's also building his company in Orono, Maine - far from any major healthcare hub.
DioGenix, in Gaithersburg, Md., was founded in 2009 after CEO Larry Tiffany and his senior management team saw a clear clinical need: monitoring disease progression of multiple sclerosis (MS). Tiffany has an extensive background in biotech, as an IP attorney, and as a senior executive at small and mid-size biotech companies. Before DioGenix, he was senior vice president and general manager of genomics for another genomics research company, Gene Logic.
It’s a cancer immunologist’s dream to discover a safe and effective way to coax the body’s own immune system into waging war against invading cancer cells. Building a startup company around that finding, though, is definitely not every scientist’s forte. For Gary W. Wood, making the leap from laboratory to C-suite seemed like the next logical step.
More than 6 percent of Inc. 500 firms work in the health and drug space, making it the No. 5 industrial sector for these fast-growing companies from 2005 to 2010. But these medical innovators aren’t all concentrated in the Silicon Valley.
With immigrants in more than 40 percent of the cancer researcher slots at America’s top cancer institutes, these scientists are playing an integral role in improving cancer survival rates in the United States, according to a Kauffman Foundation-funded National Foundation for American Policy report released last month.
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