Lecture 1 Flashcards
What are the qualities of
bioentrepreneurs ?
Hint there is six
1.risk takers
2.They aim high-pursue opportunity without regard for resources they currently
control
3.Have a clear vision of success
4.view change as an opportunity
5.View themselves as mediators of
change
6.Can thrive in right environment
Examples of entrepreneurs ?
Steve jobs
elon musk
bill gates
peter jones(dragons den)
Deborah Meaden
Examples of
bioentrepreneurs?
Henri termeer
Collet and wyatt
who is Henri termeer ?
Dutch biotechnology executive and entrepreneur, CEO at Genzyme, Genzyme uses biological processes to manufacture drugs that are not easily copied by generic-drug makers.
Most of these drugs are protected by The Orphan Drug Act of 1983 is a law passed in the United States to facilitate development of orphan drugs—drugs for rare diseases such as Huntington’s disease
Intrapreneurship– Skunkworks
WHAT IS IT ?
enriched environment that is intended to help a small group of individuals design a new idea by escaping routine organizational procedures.
Skunk Works is a pseudonym for Lockheed Martin’s Advanced Development Programs, a division within the company that over time has produced some of the most innovative aircraft and defense designs
What influences
entrepreneurship?
Innovation and Bioindustry skills eg regulatory insights, data analysis, adapt, problem solving and communication.
what is permanent
whitewater?
“Permanent White Water” was coined by Peter Vaill in the early 1990’s to describe the nature of intense, dynamic change that has no reprieve.
Ever changing environment that entrepreneurs have to deal with.
what are 3 aspects of Permanent White Water?
– Must manage science and business people
– Long product lead times
– Much money at stake
Advice for success?
hint there 7
– Be authentic: integrity in decision making (don’t rely on ‘authority of title’)
– Communicate vision: reinforce slogans/straplines with actions
–Be adaptable: management style needs to be responsive to environment
– Be a strategic decision maker
– Communication: must be frequent and ongoing: transition from informal to formal as company grows
– Recognise and use cultural differences between functional groups (and achieve gender balance)
– Empower & develop employees
what is a biotechnology cluster?
a very high concentration of organically grown biotechnology enterprises attached to a supportive ecosystem within a defined geographic region.
what are the qualities of a biotechnology cluster?
-Access to high risk capital willing to
fund start-ups (venter capital)
Access to world-leading academic
institutes: need high quality
academic research
* Co-location of mature
pharmaceutical industry: supply of
experienced individuals
* Need seasoned and experienced
biotechnology entrepreneurs and
mentors
* Need access to specialized facilities
at affordable rates
what is the triangle of industry in science?
big pharma , biotechnology companies and academia
Top European pharma and biotech companies?
roche, novatris, astrazenaca, novo nordisk, sanofi
