Guru sat down with Finn Reiken, CEO & Co-Founder at LabBench2Business, to talk about how LabBench2Business helps biostartups, new trends in the biotech industry, new trends in the biotech industry, key steps for starting a biotech company, and much more.
How LabBench2Business can add value to your company
Here's how LabBench2Business can add value to your company:
1) If a company partners with LabBench2Business, they gain access to their vast network of connections.
2) LabBench2Business will help you with your fundraising.
3) LabBench2Business will help you get preferred rates on lawyers, accountants, regulatory experts, etc.
4) You will receive hands-on support for writing grants, developing marketing strategies, and finding the right lab space for your business.
New trends in the biotech industry
Finn talks about some of the trends he's observed in the biotech industry, such as companies shifting towards sustainability. This includes companies creating alternative fuels and packaging materials that don't pollute the environment. Another trend is in diagnostics in healthcare, where you can now get results on a genetic level, and the rise of at-home testing where you can easily test for viruses like Covid-19. The third trend Finn tells us about is companies focusing more on generating food through cellular agriculture.
Key steps for starting a biotech company
Finn tells us the key steps of starting a biotech company:
1) The science needs to be sound, and the results must be reliable.
2) The technology you are working on needs to solve real-world problems or unmet needs.
3) Assemble a great team and take advice from mentors.
4) Surround yourself with people that have different skill sets.
Supporting different life science companies be successful
Currently, LabBench2Business is supporting green biotech companies, white biotech,companies in the healthcare sector, med-tech and laboratory technology companies.
Advice for aspiring bioentrepreneurs
Finn tells aspiring bioentrepreneurs that they need to collaborate and stop doing everything alone. Bioentrepreneurs oftentimes try to things done by themselves, but ultimately, it is a "collaborative game." You need people of different skill sets to support you on your journey.
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