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The Role of the Incubator in Nurturing The Role of the Incubator in Nurturing
Viable Start-up CompaniesViable Start-up Companies
Is there a way to do it right?
Dr. Dan Gelvan14.9.2007
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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Real Goal of the Company?Real Goal of the Company?Commercialize scientific discoveries?
A terrific technological development?
An impressive solution to an annoying medical problem?
Bring new products to the world?
Sell products?
Make money?
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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The Answer is:The Answer is:
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
Growing CompaniesGrowing Companies
Do we really need to nurture the young start-up company?
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14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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The Top-Down ApproachThe Top-Down Approach
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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The Structured ApproachThe Structured Approach
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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Basic Life of a CompanyBasic Life of a Company
Idea R&D Prototype
Product
Regulatory Approval
Market
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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R.I.P.
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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The Structured ApproachThe Structured Approach
For your product to make money somebody must:
Like it
Want it
Be allowed to buy it
Be able to pay for it
- good product
- good marketing
- reimbursement
- regulatory approval
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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Getting the Product RightGetting the Product Right
Idea
Marketing
Technological development
Prototype
Product
Prod. design
UI
Manufacturing
You are here The Market
Med
ical
adv
isor
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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Getting the Product RightGetting the Product Right
Idea
Marketing
Technological development
Prototype
Product
Prod. design
UI
Manufacturing
You are here The Market
Med
ical
adv
isor
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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Oops!Oops!
The Market
You are here
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
NurturingNurturingHow do we nurture the young start-up?
– It is a real company Typically, it has
– No experience– No corporate identity– No corporate culture
Needs – Basic support– Positioning– KIS– Perspective and strategy
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14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
Knowledge Intensive ServicesKnowledge Intensive Services
Incubator level: Deal flow Due Diligence Project evaluation Positioning Strategy
Company level Management Intellectual property Business development Product strategy Regulatory issues Reimbursement Presentations Partnering Investments Exits
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If you ain’t got it – buy it
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
The Incubator and the TTOThe Incubator and the TTOMany models of cooperation
Passive Active interaction Hyperactive
Create a win-win situationEducate the researcherAttitude and role of the academic
institution
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14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
Motivation!
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14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
The Incubator as a Private InvestorThe Incubator as a Private Investor
Public vs. private?Or nothing at all?Is it good or bad?Does it provide more motivation for the
incubator?
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14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
The Maturing CompanyThe Maturing CompanyChanging needs:
Investors Market issues Advisory boards Regulatory issues Reimbursement Clinical trials Commercial connections Exit
Increasing the odds!19
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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Thank you!Thank you!
14.9.2007Dr. Dan GelvanMedical Dimensions Ltd.
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Contact InformationContact Information
Dr. Dan GelvanManaging DirectorMedical Dimensions Ltd.Mobile: +972 54 4900 118E-mail: dan@medical-dimensions.com