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Being an Entrepreneur in Industry vs. Education: Team vs. Individual - Gordon Ringold (Surromed)
Date: 2/26/2003
Length: 1 minutes
Speaker(s): Gordon Ringold
Sources: Stanford Technology Ventures Program
Description: Ringold talks about the fundamental differences between sole entrepreneurship in the academic setting versus entrepreneurship in an industry setting: a change in dynamics from a sole activity, to teamwork from different
disciplines to solve fundamental problems. Industry has learned this long before the academic environment - that you need to bring people together from various industries and disciplines, with different skill sets to solve fundamental
problems, he says. It is rare that a fundamental problem, which leads to an applied product can be solved by a team of engineers only. It is the intersection of disciplines that leads to innovation and discovery - teams need to be built of
different disciplines and skill sets in order to be most effective, he adds.

Other Videos in Series

Being an Entrepreneur in Industry vs. Education: Team vs. Individual - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold talks about the fundamental differences between sole entrepreneurship in the academic setting versus entrepreneurship in an industry setting: a change in dynamics from a sole activity, to teamwork from different
disciplines to solve fundamental problems. Industry has learned this long before the academic environment - that you need to bring people together from various industries and disciplines, with different skill sets to solve fundamental
problems, he says. It is rare that a fundamental problem, which leads to an applied product can be solved by a team of engineers only. It is the intersection of disciplines that leads to innovation and discovery - teams need to be built of
different disciplines and skill sets in order to be most effective, he adds. Watch More
Biggest Pharmaceutical Products in Industry Today - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold informs us that drugs for lowering blood pressure and those to lower cholesterol are among the leading pharmaceutical products today--and these are not treating a disease. The fundamental opportunity lies in the surrogate
market, he says. Watch More
Biotech: Collaboration vs. Competition in Developing Affymax - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold talks about the decision to move away from being a technology based company at Affymax to applying the technology to pharma because of the relatively small life of a leading technology. Because of lack on internal
infrastructure, they decided to sell the company and put it into the hands of a bigger company that had the infrastructure and expertise to use the technology. After a global search, Glaxo bought Affymax, he says. Watch More
Change the Business Plan in Response to a Changing Environment - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Surromed had to change their business plan due to two reasons, says Ringold: 1) External climate 2) Lack of potential partner interest. All good startups will adapt the business plan in their life, he notes. For example, Surromed
shifted to a product revenue generating model. They started to provide a service to make money which they could invest in their own discoveries. The company moved from generating equity capital to generating revenue. Watch More
Funding Challenges in Today's Market - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold thinks that biotech companies are fighting the consequences of what to place in the bubble of dotcoms. The bubble was not based on reality. Now it is hard for good companies to get funding, he says. Watch More
History: From Bayer to Affymax - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold talks about the idea behind and the history of combinatorial chemistry to accelerate the process of drug discovery. He then talks about a technology that was invented for a different purpose but was eventually applied to
the specific problem of broadly monitoring the expression of gene sequences giving birth to Affymetrix. Watch More
History of Maxygen - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold partnered Alex Zaffaroni, a pioneer in the biotechnology and pharmaceutical industry, to help start biotech companies. The upshot was, they started Maxygen, run by CEO Russell Howard. This is a derivative company, using a
technology invented for one purpose being applied to a whole host of other problems, says Ringold. Watch More
History of Surromed - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold talks about Surromed's goals: 1) To improve the use of existing drugs and diagnostics 2) Right medicine for the right patient in the right dose at the right time. Ringold talks in detail about the limitations of diagnostic
techniques and drug use today and how Surromed tries to find a solution to some of the problems. He shares a report by McKinsey which summarizes the status of drug discovery. Watch More
How to Operate in a Downturn Economy - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Surromed has had to adapt its business plan, downsize the company, and pair down numbers of diseases, says Ringold. Things are very different from when they started the company. To be stronger when markets open up and to start a
company today, one must build slowly and be flexible, he notes. Watch More
Importance of Passion - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: To be an entrepreneur you need to have passion for what you are doing and this will lead to other opportunities, says Ringold Watch More
Pharmaceutical Companies: Challenges in Developing New Therapeutic Products - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold talks about how the pharmaceutical industry is built on failure and inefficiency and has a small success rate. This recognition led to Surromed. The low success rate is driving the consolidation of companies, which is
giving rise to mega players. Now a blockbuster product has to be a multibillion product. This can only change with a change in the processes it uses. New biotech companies are starving for funding and cash, he notes. Watch More
Types of Company in Biotech - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold discusses in detail two ways of categorizing companies. Type A companies have found a solution for a fundamental problem. Technology or new approaches have been invented to help solve that problem. Type B companies, like
Genentech, use old technologies in novel applications. Watch More
What is an Entrepreneur? - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Gordon Ringold, CEO of the Glaxo-Wellcome Group's Affymax Research Institute, shares what he thinks an entrepreneur is - someone who says, I can do it. Not you can do it Watch More
When and How are Patents Important? - Gordon Ringold (Surromed)
Gordon Ringold
2/26/2003
Summary: Ringold talks about how patents are critical in different ways in different stages of a company. Patents in the early stage are very important to get a competitive edge. Ultimately, patents that are most valuable are those on
composition and matter, he says. Watch More

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