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Jordi Villà i Freixa (jordi.villa@upf.edu)

Professor agregat (UPF) and co-founder of aScidea Computational Biology Solutions, SL

Who they are?

Science and business programs

"Too many of us are not living our dreams because we are living our fears"

www.lesbrown.com

  • MBA programs teach students to be members of big companies: NOT to be entrepreneurs
  • business-savvy scientists or science-savvy entrepreneurs?
  • Failure of the education system: why not more entrepreneurs than lawyers?
  • Valortec, BioemprenedorsXXI, UPFemprèn...

1998!

not necessarily a scientific innovator is an entrepreneur. We need contact with others that have been there before

  • BioData generation and bioinformatics analysis made simple and affordable
  • start-up arising from several driving forces, including the CBBL lab at the UPF
  • services company, selling know how
  • small size (small budget!), based on outsourcing tasks
  • 03/2005-03/2006 to constitute
  • created in 2006 as a spin off of the Chemogenomics lab at the GRIB/IMIM (PRBB)
  • core in silico pharmacology platform to predict the affinity of small molecules to almost 5000 targets

"Technicalities"

(well, definitely much more than just that)

  • nightmare to get constituted, but it got benefits from it, after all (Genoma España)
  • Constituted in mid 2008, starting business at the beginning of 2009
  • microarrays for diagnostic of severe chromosomal alterations; R+D+i on new sequencing products
  • awards and loans last round BioemprenedorsXXI, UPFemprèn, Gènesi, currently in second round for investors

PRBB:

6 years,

3 companies

"The critical role that scientists play in our economy is compromised because faculty, graduate students and postdoctoral researchers do not have a base level understanding of the commercialization process"

Lesa Mitchell

EUREKA!

this is going to be a block buster!

"I have not failed. I've just found 10000 ways that won't work"

Thomas Edison

  • fund research
  • obtain patent protection
  • negotiate good deals
  • obtain FDA authorization
  • develop good manufacturing practices
  • sell the product with sufficient margin
  • comply with all post-market FDA requirements
  • ...

(cc) photo by theaucitron on Flickr

10+n possible commandments

"A dream you dream alone is only a dream. A dream you dream together is reality"

John Lennon

  • parc tecnològic del Vallès (UAB)
  • founded by UAB BSc (on biotech)+ MBA graduates
  • from biotech solutions to the cheese industry (2004) to the development of functional food
  • progressive access to funding, opening of new lines and development of new patents: 2,1 M euros sales in 2009

Funding

  • based on patents (more than 200)
  • venture capital provided all seed capital
  • he merged with know how and RD people
  • (cloud) technology for business management
  • several rounds of recapitalization (last this year, recovery up to 75% of capital by the owners)
  • highly internationalized
  • possible stock exchange market in 2013

"For people to be great,

to accomplish the impossible,

they need inspiration more than financial incentive"

Randy Komisar

"You don't get paid by the hour. You get paid for the value you bring to the hour"

Jim Rohn

  • you need a patent!
  • grants/soft credits/awards
  • what business angels look for: talent and inspiration, commitment, determination, coachability, passion

STOP making excuses

STOP over thinking

STOP worrying about what if's

STOP being afraid

STOP stopping!

"Worry is interest paid in trouble before it falls due"

Dean Inge

Business model

"Try not to become a man of success, but rather try to become a man of value"

Albert Einstein

How your organization creates, delivers, and captures value?

Infrastructure

Customers

Offering

Finances

goals? structure? weaknesses? hmmm, perhaps better called "Business innovation canvas"

  • spin-off from a leading research group at the Universitat Autònoma de Barcelona. This group, funded by the Spanish Government's Ministry of Science and Technology, has pioneered the research on e-voting security in Europe since 1994 (25 scientific papers published in international journals; participated in the first Internet binding election in Europe: the 1997 election to the Presidency of the IEEE IT Spanish chapter).
  • unique electoral security technology, 14 years of pioneering R&D and protected by a portfolio of international patents.
  • numerous international awards: ICT Prize granted by the European Commission, the European Venture Contest Prize, the Best Case Label granted by the European Commission, the "leaders of the ITech Economy" award granted by the IE-Club, the RedHerring 100 granted by RedHerring magazine and the Global Innovator granted by Guidewire Group.
  • customers both in the private and public sectors.

From lab 2 market

Technology transfer (the invention, the patent, the marketplace: licensing, royalties)

  • write it down! (rationality, ownership, confidentiality, scope of employment, commitments)
  • culture of invention (patents in everybody's mind)
  • getting inventorship right
  • patent strategy
  • regulatory agency strategy
  • loosening the reigns
  • stirring public interest (confidentiality)
  • financing the company
  • prepare for due dilligence (copies in distance locations)

"Watch, listen and learn. You can't know it all yourself. Anyone who thinks they do is destined for mediocrity"

Donald Trump

(cc) photo by theaucitron on Flickr

the fundamentals

in action

to conclude

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