Reducing Costs and Accelerating Innovation in Biotech Startups
Operating a biotech startup has presented increased difficulty and risk to entrepreneurs over the past decade. The costs of development for biotech startups have grown so much as to become a barrier to entry. Up-front capital costs for equipment now range from $200,000 for a scanning electron microscope to $740,000 for an Illumina next-generation sequencing platform (Wall Street Journal, 2012). It is in turn quite cost-prohibitive to establish in-house research platforms on basic startup funding.
Funding Sources for Life Science Startups
Bringing a healthcare drug or device to market requires an intense amount of capital. Federal regulation in the United States, Europe and beyond requires clinical testing and trials, as well as large sales staffs and other expenses. The early requirements for investing can force entrepreneurs to seek private, dilutive investing and rapidly cut into the amount of ownership of the company by the entrepreneur.
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Puts this discipline in perspective and lays out the strategies that allow entrepreneurs to excel in their start-up companies. Page by page, this book discusses all facets of the venture capital fundraising process.
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