Two years ago, I have started working with two scientists on a spin-off project in the fields of microarray, electrical biochips and bioinstrumentation.
The company to be spun off serves to commercialize a technology, one of the two scientists pioneered in his Ph.D.-thesis. The technology involves the implementation of gold-nanostructured microarrays for the detection of DNA and small molecules. So far we went from kitchen-table to project-status.
In this entry I will discuss the obstacles we encountered before we could think of actually founding a company.

A small Life-Science company (head count ~10) specializes in testing of food and water for suspected germs such as legionella pneumophila, listeria, etc.

According to strict European hygiene laws, all foods and beverage produce must be monitored by microbiological testing routines.
Until now, the firm uses techniques employing spectroscopy. Currently the firms proprietary testing system is sold under an own brand name, but so far large-scale sales have not kicked in yet.
In a partnership with a research institute nearby, the firm tries to license an advanced technology plattform, using electrical microarrays (vulgo Biochips) to boost sales as these method proves to be more efficient and faster.

In the same way the company is willing to enter new markets besides the highly competitive food & beverage industry. Therefore it seeks to contact large chemical companies residing in the region.

*Q:
How can my company as a business developer exploit this situation in order to shape a business development case, producing revenue for us??

This first entry marks the beginning of a long journey in experiences, successes – and mishaps.

Many of you know the problem: being a researcher or Ph.D.-candidate, you might see business opportunities in the knowledge you produce. In the end many of us are struck with highly innovative, yet very specific technologies, we want to build our own business upon. But how to do that? Sure, we could hire a professional agency, but funds are scarce and the market moves fast…
In this blog want to share my experiences to build diverse business cases in life sciences.

Currently, I work for a company that manages a life science campus in Central Germany, about 1 hr. south of Berlin. Until now, it’s activity was maily based upon public subsidies, but the company will transform into a privately operated and funded business in the coming year.
My task is to develop a business development competency in life sciences and related industries – with just a little experience in the field.
Any specators to watch my steps in the business are welcome.
Much more, I encourage the community, both scientists and professional business people to help create a space where we all can learn from real-world business scenarios how to develop new businesses to create wealth from our research.