BioEntrepreneurship & Innovation (BEI) Program From Scientist to BioEntrepreneur - Creation of a Marketable Product Simon P. Hoerstrup MD, PhD & Roger M. Nitsch MD Elke Zappe, dipl. oec. & Dr. Anneke Hibbel Entrepreneur in Residence: Dr. Bettina Ernst, Preclin Biosystems AG
University of Zurich & ETH
Our mission: bridging the valley of death Classical Academic Research Wyss Zurich Translational Infrastructure (GLP&GMP) First-in-Man Trials (GCP) Therapy Bench / Invention Bedside / Product Product design & development Products Prototype testing Basic Research Pre-Clinical Research / Proof-of-Concept Clinical Translation / Technology Transfer Clinic / Market Institutions, research grants, etc. Venture capital, industry partnerships
BioEntrepreneurship & Innovation (BEI) Efficient translation of scientific inventions & innovations into novel therapies, services & products Zurich: vast talent pool & excellent research institutions key factor of the Life Sciences success model in Switzerland great # of successful spin-off companies But: many Biotech companies are founded by scientists & many startups are facing the same problems and pitfalls
BioEntrepreneurship & Innovation (BEI) Program The new BEI program supports the sound preparation & start of spin-offs, using a pragmatic, hands-on approach
Module A: Beginners The modular BEI Program Get introduced to, and inspired by, BioEntrepreneurs Find a team and a business idea Module B: Fundamentals Explore essential themes in BioEntrepreneurship: regulatory affairs, accounting / finances & legal aspects of founding a company Bi-weekly pitches in front of that week s expert Module C: Case studies & coaching Fine-tune your business plan, prepare for founding your startup
Goals of Module A Learn from experienced BioEntrepreneurs how scientific results can be transferred into innovation & marketable products Find your team and develop your business idea Prepare your first business pitch Test BioEntrepreneurship as a career option
Structure of module A Three weeks: Pitch preparation supported by additional infos & coaching provided BEI staff Day2: BioEntrepreneur talk & team pitches Day 1: 3H approach & BioEntrepreneur talk find your team and your business idea
The 3H concept - Martin Trust, MIT The Hipster ( Design ) The designer/creative genius ensures that the final product is cooler than anything else out there The Hacker ( Technology ) Resembling MacGyver with their ability to wield various lines of code or programing languages The Hustler ( Finances ) Concerned with the question: It s cool, but is it something our partners and clients want?'
Minimum Viable Product (MVP) Minimum Viable Product (MVP) Minimum Viable Team (MVT) Build functional prototypes (protect IP) Improve UX so people convert Scale customer acquisition & distribution design & user experience (UX) Hipster engineers & developers Hacker marketing & business Hustler Martin Trust, MIT: 26K new companies, 3.3 mio new jobs, 2.2 trillion annual revenues, 12th biggest global economy
Today s Entrepreneur in Residence: Dr. Bettina Ernst, Preclin Biosystems AG 2008 - present Preclin Biosystems AG: Co-Founder & CEO 2003-2008 ETH Zurich: Research, Management & Lecturing 2001-2003 LICR: R&D 1992-1999 The Scripps Research Institute: PhD in Immunology & Postdoc
Team building by Speed Dating What are you passionate about? How would your friends describe you? What skills do you have? What skills are you looking for in a (co-)founder? Why should I pick you? What was you biggest success as a Hipster / Hacker / Hustler?
How to prepare for Day 2 Develop your business strategy including: v Business idea (product/service, IP, target group, naming) v Primary market research v Resources (team, financing, marketing & sales, timing) Prepare a sales pitch & mail the presentation (maximum 7 minutes) until 10 September for the session on 12 September
Inspiration for the development of your pitch Company pitch of CUTISS AG - UZH spin-off: How to develop your own pitch deck: http://biosourceconsulting.com/develop-powerpoint-pitch-deck-biotech-investor-presentations/
Time schedule for day 2 09:30-10:45 Olga Peters: Co-Founder and CFO at Qualysense AG + Q & A 10:45-10:50 Break 10:50-12:50 Sales pitches of all teams & feedback by BioEntrepreneurs 12:50-13:00 Recap & overview of Module B
The perfect start-up The perfect start-up is a combination of chance, team & timing. The ideal start-up: adresses a huge market place that is open to change or is being created by a paradigm shift, has a team that is sensitive enough for the requirements of the market, hitting the market at just the right time - not too early and not too late. Each of these characteristics, if poorly implemented, kill the venture. Oliver Samwer, Rocket Internet, 2016