Posts Tagged ‘healthcare startups’

Discovering the Perfect Partner

August 23rd, 2013
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This is Part 3 in a series of blog posts on best partnering practices for life sciences and health tech companies. Read the previous posts in the series for Part One, and Part Two.
A lesser-known fact about Isaac Newton’s famous quote, “If I have seen a little further it is by standing on the shoulders of Giants,” is that he wrote it to rival scientist Robert Hooke, praising Hooke’s work. As we now take the next steps toward forming strategic partnerships, the application of the quote for us is that help may be found in unexpected places.
When we work with clients on partnering strategy, we combine the step of looking for categories (e.g. markets, segments, regions) with the steps of identifying specific companies that may represent attractive potential partners. We often will present the result of this exercise as a matrix, with the categories as columns and the companies as rows. It can look something like this (but may have much more refined categories than this example):  Read the rest of this entry »

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Strategic Steps Two and Three on Creating your Big Picture

June 11th, 2013
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Albert Einstein once said, “The process of scientific discovery is, in effect, a continual flight from wonder.” While product development processes differ from scientific discovery, they still can be a subject of wonder for many a life science executive. In a previous Popper and Company post, I addressed the first step toward successfully introducing a new product or service, namely knowing where you are in the process. In this post, I’ll cover two more important steps to commercialization: determining the right partner and refining your strategy.
Step Two: Pick your partner (and your partnership arrangement) wisely
When looking to commercialize a healthcare innovation, the first item of consideration for most life science companies is usually money. But a number of other important issues need to be addressed before positive cash flow becomes a reality. One matter is looking for organizations or people who can help you. The most common need of a new enterprise or startup organization is a partner with development expertise that you and your firm may lack.
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When Seeking Partners, Look for the un-Usual Suspects

April 1st, 2013
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For many new and growing companies, it’s not enough to have a plan for identifying strategic partners. You also need to successfully implement the plan—and that’s often easier said than done.
Reaching your company goals will no doubt require more capital, perhaps new investors to inject that capital, more third-party involvement, and probably a partner to help with product commercialization. New outside stakeholders add another dimension to your goals; now you’ll need to see how your product/service fits into someone else’s strategy.
How do you find the right fit? The answer actually lies in getting creative in a way that expands the universe of potential partners.
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