In October 2020, I left a good, well-paying job, much to the surprise of my friends and colleagues. A part of me wanted to stay, but my entrepreneurial spirit hungered for more.
After a great deal of soul-searching, I decided to start my own company. Scispot represents everything I've learned as a student, researcher, team leader, and person. I've chosen risk over regret, and I'm excited to share Scispot's vision with the biotech world.
Much has motivated me over the years to pursue my hopes and dreams, but here are five motivations in particular that drove me to start Scispot.
To bring the biotech industry to the 21st century
Biotech startups are solving some of the biggest challenges of this century, but the way they operate is still very 20th century. This is unacceptable to me. They can do so many things faster and in a more constructive manner.
I experienced biotech inefficiencies firsthand while working as a bench scientist during my undergrad and grad school days and resolved to expunge inefficiencies with software technology designed to empower scientists, so they focus on high-leverage things. For example, when I was in the lab, a considerable chunk of my time was spent doing admin work -- documenting in a paper notebook, then rewriting or entering data in a word doc or spreadsheet, and doing other manual labor that can easily be automated.
With Scispot.io, I strive to automate 50% of the biotech companies' workload so that scientists can focus on thinking, planning, and experimenting, not on repetitive mundane tasks. You don't want to be trained as a scientist to spend 50% of your time on admin work.
To create the launchpad for bio entrepreneurs and democratize biotech industry
Unlike tech startups capable of launching a product within months from a garage or dorm room and scale into global companies, their biotech counterparts typically spend a decade of work and billions of dollars to reach the same result. The market's steep barrier of entry is daunting and sometimes even insurmountable for bio-entrepreneurs. I want to make biotech more accessible, so anybody from anywhere can design and perform their experiments, manage their R&D programs, and bring about breakthroughs to cure diseases. We need biotech in the mainstream's hands rather than leaving it to a select few people with the same degrees and experience.
Many culprits are responsible for slower processes and poor scalability—chief among them: lack of quality data in the Cloud and instant access to resources in the digital environment.
I remember coming up with "billion-dollar" commercial ideas while working at the lab at the University of Delaware, but I always found myself limited by data, resources, and expertise. It was challenging to reliably connect with the right insights, tools, and people at the right time. I want to change just that and empower bioentrepreneurs, so they have a one-stop-shop to launch and scale biotech like their tech counterparts.
Our vision at Scispot.io is to empower bioentrepreneurs worldwide to start and scale biotech companies just like tech companies. Imagine going to a bustling coffee shop and seeing a group of bioentrepreneurs running their R&D programs on Scispot.io from their electronic devices. Launching innovative drugs from anywhere you’d like — This is the future we aim to bring about.
To transform biotech into digital biotech™ and introduce virtualization in the industry
The COVID19 pandemic convinced me that we cannot rely solely on the real world; we need to create a digital copy of it to continue our day-to-day work virtually when required, especially in essential industries like biotech. We should be able to monitor labs, perform scientific research, and collaborate with our partners efficiently in the digital world. This realization motivated me to resign from my job, map biotech startups' workflows, and start creating their digital replicas.
Biotech revolution is on the horizon, and it will be led by biotech startups
There is a tsunami of new biotech startups all over the world. In the UK alone, there are over 3,500 companies involved in biotech R&D. "On average, three new biotech companies are being incorporated each day," according to biotech venture capitalist Downing Ventures. Almost two-fifths of the UK's biotech R&D companies only came into existence within the last three years. With the power of digitization, automation, machine learning, and artificial intelligence, biotech startups will gain a competitive edge and replace big biotech and pharma. These startups will work in networks and use Scispot.io's digital platform to run their R&D operations and bring new breakthroughs to the market from their electronic devices.
Big biotech and pharma companies in the future will act as venture capitalists instead of producing their own products. Biotech startups will help bring cures to all major diseases, treatments and other life-enhancing products to market in the future.
To eliminate the unnatural death of our loved ones
On a personal note, the sudden death of my mother motivated me to transform the biotech industry. I lost her, in part, because there was no commercially available drug to treat her. I believe biotech's inefficiencies can be fixed; I want to make sure no one dies young simply because the drug they need is not available in the market. My personal mission is to eliminate all major diseases from our planet within the next two decades. I am confident that Scispot will play a considerable role in achieving this goal. With the support of an all-star team and industry leaders, Scispot.io can help us realize a brighter future.