Posts Tagged entrepreneurs
Healthcare and High-tech combining to combat Coronavirus Covid-19
As coronavirus is raging on, entrepreneurs and scientists are called upon to come up with innovative ways to deal with this deadly virus. For instance, after 11 Israelis were quarantined after disembarking from a cruise ship in Japan, Israel has become a “Living Lab” for technologies to treat the virus. Israel, which has a large digital health sector, put out calls to entrepreneurs for proposals for new solutions to contain and combat the disease. Meanwhile, China is also taking a lead in exploring how futuristic technologies powered by artificial intelligence can help identify coronavirus symptoms, find new treatments, and track the spread of the disease. Chinese scientists sequenced its genome and shared around the world within weeks.
Unlike MERS, but more like SARS, Coronavirus is very contagious and has a long incubation period when people feel fine as they unknowingly walk around, infecting others. After identifying infected people, it is challenging to care for them while trying to contain the disease. Some healthcare workers who cared for coronavirus patients have themselves died of infection. We also heard that even after learning of highly contagious and deadly CD-19 coronavirus, some healthcare workers from the USA were “improperly deployed” when sent to assist in bringing home the patients infected in China.
In caring for coronavirus patients, human touch needs to be avoided and assistance should be provided remotely. Robots and automated technologies are of great help here. Robots are being used to disinfect rooms, take laundry items, help check for symptoms and disease progression, deliver medications and communicate with family and healthcare providers. Robots help disinfect surfaces and help in killing viruses and bacteria by emitting ultraviolet light. Drones and self-driving vehicles can deliver medications and supplies, petrol public places, spray disinfectants and do general surveillance.
Silicon Valley’s largest entrepreneurship conference, TiEcon 2020 has a dedicated track on health technologies. Amidst growing fears of coronavirus becoming a pandemic, emerging technologies like drones, robots, Artificial Intelligence, Machine Learning Digital Health and TeleHealth are likely to be game changers. Investors and entrepreneurs alike are focusing on the space with great interest. There will likely be exciting conversations as entrepreneurs from several countries (depending on travel restrictions), converge at TiEcon 2020, at Santa Clara Convention Center in CA, on May 8 and 9. If interested, you can register for the conference at www.TiEcon.org
Entrepreneurs set to converge at TiEcon 2020
Posted by Darshana V. Nadkarni, Ph.D. in Big Data -Cloud -IoT-Software -Mobile -Entrepreneurship on February 26, 2020
PeterDrucker has famously said, “The best way to predict the future is to create it.” And that is the central core of the theme at TiEcon 2020.
If you are an entrepreneur then TiEcon 2020 is the place where you want to CONVERGE. There’s plenty here for entrepreneurs. You might find just find the right idea, timely advice, meet a mentor, pair up with a partner, or perhaps connect with an interested investor. Very likely an entrepreneur is likely to find something here that will be a catalyst for them to begin to CREATE the environment to bring that innovation to fruition. TiEcons have always offered an environment to ELEVATE innovation from earliest idea stage to its fullest potential.
TiEcon 2020 tracks are announced and they are extremely relevant to current environment and very exciting. In the coming weeks, you will hear a great deal about the tracks, speakers, and keynotes. There are tracks and events that may offer something for all attendees like entrepreneurship and startup bootcamp. And then there are tracks that we all hear about and are on the cutting edge of new developments like cloud, security, IOT and ML. There are also tracks and events that feature the human side of an organization and soft mentoring side of this conference like diversity and inclusion and global and mentor connect, and young entrepreneurs.
With convergence of well over 4500 attendees, 220 speakers, 13+ tracks, 1300 industry leaders, from 22+ countries, there is something here for every entrepreneur to sow the seeds for creation of that innovative idea into something magnificent or elevate it to something amazing. If you are intrigued, remember it all starts with convergence at TiEcon 2020. Registration is open at early bird price at www.tiecon.org .
Where are VCs investing in DevOps
Posted by Darshana V. Nadkarni, Ph.D. in Big Data -Cloud -IoT-Software -Mobile -Entrepreneurship on April 8, 2018
In software engineering culture, unifying software development and software operation is gaining great momentum. Automation and monitoring at all steps of software construction from integration, testing, releasing to deployment, and infrastructure management, DevOps shortens development cycles, ensures more dependable releases and is more closely aligned with business objectives. Recent M&A activities of DevOps companies like AppDynamics and Automic Software and $100M+ investments in DevOps solution providers like UIPath,, XebiaLabs and Tricentis points to the red hot market, ripe of entrepreneurial innovation.
VCs have clearly embraced this transformation in culture and processes as a more efficient organizational culture for development and deployment practices. But as yet, DevOps sector is in the early phase. There will be incredible new opportunities for entrepreneurs in this sector, in the next few years. A panel of industry leaders will discuss and opine on new opportunities for entrepreneurs, at TiE Inflect 2018. Register for the largest entrepreneurship conference with exciting tracks in Blockchain, FinTech, DevOps, HealthTech, CyberSecurity, MarTech and more to take place in in May, in Santa Clara, CA at www.tieinflect.org .
Lean LaunchPad for Life Science Entrepreneurs
Posted by Darshana V. Nadkarni, Ph.D. in Big Data -Cloud -IoT-Software -Mobile -Entrepreneurship, Biotech - Medical Device - Life Science - Healthcare on November 20, 2014
Recently, Karl Handelsman, Founder, Codon Capital, talked about the Lean LaunchPad Entrepreneurship program, at www.bio2devicegroup.org event. Handelsman, with Allan May (Managing Director at Life Science Angels), are instructors in the Lean LaunchPad for Life Sciences program at UCSF and also will be teaching at NIH, in the future. Handelsman is the Therapeutics cohort and May is the Medical Device cohort.
It is a mistake to assume that pre-clinical programs are risky and they need to focus on easier low hanging fruit or they must take 10+ years and a billion dollars to create value, said Handelsman. We have a duty to search for the path to unlock the value of the idea as industrially relevant innovation, and there are examples of biotech startups reaching that point in 18-30 months, said Handelsman. Lean LaunchPad program teaches scientists and clinicians in startups to do a real world assessment of their idea or technology, before plunking down millions of dollars, in an idea. Entrepreneurs receive training in determining their product’s market viability, regulatory risk, potential clinical utility, and also likely financing vehicles before making big dollar investments in research, design, and manufacturing.

English: Molecular graphics images were produced using the UCSF Chimera package from the Resource for Biocomputing, Visualization, and Informatics at the University of California, San Francisco (supported by NIH P41 RR001081). PDB rendering based on 1a8e. (Photo credit: Wikipedia)
Entrepreneurs need good operational models that build a context of value creation, said Handelsman. Investors like value, not milestones. “Investors want to invest money and they want to hear a business case, and operational milestones don’t get you there”, stressed Handelsman.
Big things often have small beginnings and start with contributions from many small pockets. Sharing the case of a company that started with collaboration and became the behemoth, Genentech, Handelsman said, entrepreneurs need to start thinking about collaboration, not competition, and begin to look at models of collaboration that would create true value. After all, strategic alliances built the Silicon Valley and there are many diverse and creative ways of creating partnerships. Entrepreneurs need to talk with others and be really good listeners.
Successful entrepreneurs are not thoughtless risk takers, but approach problems in a disciplined way. Value creation for therapeutics begins with thoughtful consideration of who would benefit from solving a certain problem; patients, payers, insurances companies or any other entity? Once entrepreneurs can figure that out, they can go to a VC and explain the business case. Value creation, after all, is not what entrepreneurs think or believe, but an idea or concept that gets external validation from the customer. “Do not constantly worry about keeping the concept in the stealth mode, and talk to a lot of people”, advised Handelsman. VCs do not count, they are not potential customers. In the end, one could have a sexy product, but if it does not solve a pressing problem then it is not creating value. Real answers to key commercialization questions, in the case of therapeutics, lie outside the lab, and entrepreneurs need to actively engage and talk with customers, partners, regulators and so on to figure out the value of their product. Lean LaunchPad methodology therefore, helps to validate the product, before commercial strategy is considered, saving time, money, resources and in some cases, helping guide the change in the trajectory, for more meaningful outcome.
How to take a Biotech company from Idea to Exit
Posted by Darshana V. Nadkarni, Ph.D. in Biotech - Medical Device - Life Science - Healthcare on February 5, 2014
Mahendra Shah, Partner with Vivo Ventures & Ravi Mistry, President of EPPICGLOBAL (www.eppicglobal.org) talked about how to take a biotech company from idea to launch, at www.bio2devicegroup.org event. Here is some of the comments made by Shah and Mistry.
Entrepreneurs starting a biotech company must start with a disease target, said Shah. First and foremost there should have a good understanding of the disease and at which stage in the disease progression is the biotech seeking to interfere. Second, one should have a good understanding of the market opportunity and about existing treatments. Entrepreneurs need to ask the hard question regarding “clinical meaningfulness”; and whether or not the possible treatment developed by the biotech will lead to significant enhancement in patient care. Payers will not pay for little improvements, said Shah. Companies need to identify gaps in the treatment, and find a niche market. Patients need to be identified for who the prescribed treatments do not work well and that could be a niche market for entrepreneurs, said Shah. Shah said that during his career, he found such niche markets through repurposing, taking old drugs and finding new indications. He also cautioned about the importance of ensuring secure Intellectual Property to protect the proposed solution. With currently available internet tools and database resources, that is not hard to do. Even speed browsing on Google can give you a quick idea of who owns the IP and if there are ways to get around it, said Shah. Biotechs based on developing Orphan drugs are a great opportunity for a new startup, because once approved, you cannot have competition for up to 7 years in the US, and up to 10 years in Europe.
In terms of drug development, one needs to also get clarity on development pathway to determine whether it will require 10 thousand patients or few hundred, since that can make a huge difference in the amount of financial capital that will be required to bring the product to market. Companies need to identify how quickly one can progress to phase 2 and bring it to a meaningful endpoint. Also it is important to get an understanding if the endpoint is subjective or objective. A subjective endpoint will have significant placebo effect and will require much higher number of patients, said Shah. In order to do successful fund raising, companies need to have approximate idea of time and costs of bringing the product opportunity to a meaningful endpoint. Companies also need to have clarity on the various product development milestones and inflection points. Finally, an experienced Team is extremely important to bring the idea to fruition. However in this, two members of the team are particularly important; the CEO and the Medical Director. Other members of the management team can be hired as consultants but these two team members of the team need to be identified early and brought on board and should be people one can trust and those who feel passionate about the technology and who buy into it.
A biotechnology company requires significant money for its operations, so it is important to make sure that the first time investors have deep pockets, very sane advice from Shah. He told the budding entrepreneurs to be careful and make sure they have synergy with the investors. “Some of the investors’ money is not good, it will give you ulcers”, warned Shah, since money can have many strings attached to its return on investment. Referring to reimbursement, Shah emphasized that the payer is very important and entrepreneurs should do a quick survey of physicians and Key Opinion and Thought Leaders and get a clear idea about existing and current modes of treatment and who will be paying for the new product opportunity.
Mistry shared some statistics on activity in the life science space. 2013 has been a banner year for life science IPOs. Out of a total of 82 total IPOs in 2013, 46 were in the life science industry. Life science industry also enjoyed a substantial investment of dollars. The increase was certainly more significant in biotechnology, while medical device industry actually saw fewer dollars invested. Mistry talked about how to prepare for an M&A exit and provided some advice to entrepreneurs to keep diligent documentation with respect to company’s IP. He also commented that when it comes to negotiation, there is no “one size fits all” and best deals can be made if entrepreneurs remain can remain flexible throughout the process.
At the start of the talk Mistry put in a plug for EPPICGlobal and their upcoming annual conference, on March 29, 2014. The conference has an exciting lineup of speakers and panels addressing neglected and rare diseases, point of care diagnostics, and innovations in clinical development of novel agents. The talk ended with Shah sharing information on exciting speed pitch session, at the EPPIC conference, where entrepreneurs will have an opportunity to pitch their company to a panel of VCs and receive real-time feedback.
I would encourage my readers to attend the EPPICon 2014 conference, and avail of the opportunity to listen to various industry renowned speakers. To register for the conference and/or register for the speed pitch, please go to www.eppicglobal.org.
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