From MedicalResearch to Business: Launching Great Spin-Offs

Start-up advisor

https://www.linkedin.com/in/sfiligoj

Antonio Sfiligoj

This Talk is Based On• My Experience• Lean Startup

• Business Model Generation

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The Researcher - Entrepreneur

• Researchers are encouraged to take their work out of the lab and into the commercial sector.

• But trading an experimental design for a contract with a private firm or launching a start-up is not for everyone.

• learning an entirely new language.

• experience the satisfaction of getting what you have developed into the hands of the public.

The Battelle Way to Innovation

• Federal Grants

• Contract Research / Government

• Contract Research / Single Client

• Contract Research / Multiclient

• IPR Commercialization

• Listen !

• Test your hypotheses

• Continuous Discovery

• Done by researchers

Customer Development Process

Get Out of the Lab !

Researcher - Entrepreneur

Some Key Questions

1970 – 1995 Playbook

Product Introduction Model:Two Implicit Assumptions

Customer Problem: known

Product Features: known

Concept/Seed Round

Product Dev.

Alpha/Beta Test

Launch/1st Ship

The Leading Cause of Startup Death

3 Elements to Innovation: Market, Technology, Implementation

Innovation

BUSINESS MODEL, SUPPLY CHAIN, MANUFACTURING, ETC.

MARKET NEEDS & APPLICATION5

NEW & OLD SCIENCE & TECHNOLOGY

Eugene Fitzgerald, Andreas Wankerl, Carl Schramm

«Inside Real Innovation»

Customer Development

Process

CLIENTS

CLIENT

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Search for a Business Model

VALUE

PROPOSITION

COST

STRUCTURE

CLIENT

RELATIONSHIPS

CLIENT

SEGMENTS

KEY

COMPETENCIES

RESOURCES

KEY ACTIVITIES

REVENUE

FLOWS

DISTRIBUTION

CHANNELS

KEY PARTNERS

12

3

4

5

8

6

7

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Business Model Generation – Alexander Osterwalder, 2010

Value Proposition• Products and services

• Pain Relievers

• Gain Creators

How Does This

Really Work?

Here’s how we did it

•

•The GMP-in-a-Box does away with expensive

clean room infrastructure and personnel.

• GMP-in-a-Box

Bioreactor

•That’s how we want to make Stem Cells-based therapies

•available to every patient and hospital.

•The automated GMP-in-a-box ensures high quality, high safety, standardization and low cost.

GMP-in-a-Box™ platform: supporting multiple TE applications

Other Medical needs

Osteoarthritis

Bone

Substitutes

Unmet market needs:Osteoarthritis ….!

https://www.youtube.com/watch?v=qm_0PwsOfAU

Startups Search, Companies Execute

ScalableStartup

Large Company

Transition

- Business Model found

- Product/Market fit

- Repeatable sales model

- Managers hired

- Cash-flow breakeven

- Profitable

- Rapid scale

- New Senior Mgmt

~ 150 people

The Searchfor the Business Model

The Execution of the Business Model

Early Stage Investors Venture Capital

Corporate Investors

Agile Prototyping vs. Engineering

• Agile Development

• Continuous Learning

• Self Organizing Teams

• MVP – Minimum Viable Product

• Regulatory Approvals / Pivots

Activating Investors & Partners

Closing Thought

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