Your SlideShare is downloading. ×
0
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Synbio london 040214
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Synbio london 040214

1,144

Published on

1 Comment
0 Likes
Statistics
Notes
  • Enjoyed the presentation in London this week Steve.

    I teach Bioentrepreneurship here in Belfast. This material is very helpful.

    I would be interested in participating in any on-line courses you are running.
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Be the first to like this

No Downloads
Views
Total Views
1,144
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
35
Comments
1
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  1. The Lean LaunchPad for Biotech Steve Blank @sgblank www.steveblank.com
  2. 21 Years Executing the Plan
  3. Actual Photo of What Happened When My Plan Had First Contact With Customers
  4. Is this all there is?
  5. ?
  6. It Resulted in a Few Hypotheses
  7. Startups Are Not Smaller Versions of Large Companies
  8. Startups Are Not Smaller Versions of Large Companies Large Companies Execute Known Business Models
  9. Startups Are Not Smaller Versions of Large Companies Startups Search for Unknown Business Models
  10. What’s A Startup?
  11. A temporary organization designed to search for a repeatable and scalable business model
  12. A temporary organization designed to search for a repeatable and scalable business model
  13. A temporary organization designed to search for a repeatable and scalable business model
  14. A temporary organization designed to search for a repeatable and scalable business model
  15. Startups Fail Because They Confuse Search with Execute
  16. Startups need their own tools, different from those used in existing companies
  17. Startups need their own tools, different from those used in existing companies
  18. And a Question
  19. Can We Build a Process to Search? Before we Execute
  20. 1. Startups are a series of untested hypotheses 2. You can test these hypotheses with the same scientific method you use in the lab, but… 3. There are no facts inside your building, so get the hell outside 3 Big Ideas
  21. Customer Development Process This was Formalized in a
  22. +
  23. + +
  24. So I Wrote A “Book”
  25. And Then A Class MBA 295: Customer Development
  26. Eric Ries Extends the Model • Took my class at U.C. Berkeley • Co-founded IMVU, I sat on his board – 1st implementation of Customer Development – Paired it with an Agile Development Model • Called it the Lean Startup
  27. Which Turned Into A Better Model +Agile Development
  28. Alex Osterwalder - Business Model • Business Model Generation • Defines what the “search” is about
  29. Which Turned Intoan Even Better Model + +
  30. We now know how to make startups fail less
  31. We now know how to make startups fail less Lean Startup
  32. And that Turned into Another Book
  33. Lean Startup = 3 parts Business Model Canvas Part 1
  34. Lean Startup Part 1 Part 2 Customer Development +
  35. Lean Startup Part 1 Agile Engineering + + Part 2 Agile Engineering Part 3
  36. And Then Into Another Class Engr 245: The Lean LaunchPad
  37. Lean Startup Business Model Canvas
  38. Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
  39. Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses
  40. Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses Experiments
  41. Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses Experiments Data
  42. Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses Experiments Data Mentors
  43. Then It Turned Into Another Class A Scientific Method For Entrepreneurship
  44. LaunchPad Central Software Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses Experiments Data
  45. LaunchPad Central Software DataDataData Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses Experiments Data Weekly Progress
  46. LaunchPad Central Software DataDataData Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses Experiments Data Weekly Progress Experiment Scorecard +
  47. LaunchPad Central Software DataDataData Lean Startup Business Model Canvas Customer Development Agile Engineering+ + Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Hypotheses Experiments Data Weekly Progress Experiment Scorecard Data, Experiments, T rajectory, IRL + =
  48. Cohort Leaderboard
  49. Customer Interviews
  50. Hypotheses to Test
  51. Weekly Canvas Updates
  52. Trained the Trainers Added two More Schools
  53. Taught by Takashi Tsutsumi@ Hosei Co-taught with Murray Low @ Columbia Bob Dorf Co-taught with: Jon Feiber @ MDV Taught by Jim Hornthal And Four More Schools Add 5-day version of the class 5-day Version
  54. 59 Put the class online 150,000 students
  55. Train 9 More Universities
  56. Lean LaunchPad Educators Class •Train educators each quarter
  57. Lean Startup Business Model Canvas Customer Development Agile Engineering+ +
  58. Lean Startup Business Model Canvas Customer Development Agile Engineering+ +
  59. Question Will this Work for Biotech? 64
  60. Lean LaunchPad for Life Sciences • Therapeutics • Diagnostics • Devices • Digital Health
  61. Insight Commercialization in the 21st Century 66
  62. National Science Foundation Commercialization Problem Prior to I-Corps • Disparate centers – All thought their culture was different – All had their own commercialization program – No best practices – No common training/education – No common platform – All had technology-centric focus • No centralized leadership
  63. Insight Technology Evidence but no Commercialization Evidence 68
  64. 69 Current Thinking about Translational Medicine Research Performing Institutions Technology (diagnostic, device, therapeutic) Solicit & Select Develop Technology Obtain Additional Capital
  65. Research Institutions Technology (diagnostic, device, therapeutic) Solicit & Select Existing Company New Company Technology Development Process Regulatory Intellectual Property Business Development Project Management Medical, Scientific, an d Business Review Licensing and Exit Accepted independent financing Product Development Additional Capital Current Thinking about Translational Medicine Mentors
  66. Insight Add a Formal Path for Commercialization Evidence 71
  67. physical space & equipment seed $’s Mentorship Workshops/Webinars Technology Progress Clinical Trials, etc. Commercialization Progress Accelerating Commercialization: – Requires Parallel Paths
  68. Answers to Hypotheses are Outside The Lab • You may be the smartest person in your lab • But you are not smarter than the collective intelligence of your potential customers, partners, payers and regulators • You can’t learn this by reading papers or listening to lectures Need a process for hypotheses testing
  69. Insight Commercialization Evidence Require Outward Focus 74
  70. Research Institutions Technology (diagnostic, device, therapeutic) Solicit & Select Add Evidence-based Commercialization Medical, Scientific, an d Business Review Accepted Additional Capital Inward-facing
  71. Research Institutions Technology (diagnostic, device, therapeutic) Solicit & Select Add Evidence-based Commercialization Medical, Scientific, an d Business Review Accepted Additional Capital Reimburse -men Partners Customers (users, payers, etc. ) Commercialization Development Process Value Propositio n Distribution Channels Add a parallel Commercialization Process Inward-facing Outward-facing
  72. Research Performing Institutions Technology (diagnostic, device, therapeutic) Solicit & Select Add Evidence-based Commercialization Medical, Scientific, an d Business Review Accepted Additional Capital Customers Value Proposition Channels Partners Reimburse- ment Intellectual Property Commercialization
  73. Magnamosis • Create a magnetic compression anastomosis with improved outcomes • Team: – Michael Harrison, MD, Pediatric Surgeon – Elisabeth Leeflang, MD, General Surgery Resident – Michael Danty, MS, Business Development – Dillon Kwiat, BS, Medical Device Engineer
  74. 79
  75. Insight We Know How To Build these Programs 80
  76. The Tactics • Organize P.I.’s into Commercialization Teams • Offer a 10-week training program • Get them out of the building
  77. Framework = Business Model Canvas Customers Revenue Partners Activities Resources Costs Channel Get/Keep/ Grow Product / Service
  78. Experiential • Getting out of the building – 10-15 hours/weekly • Formal methodology for customer interaction • Focus on MVP and Pivots
  79. Teams Present Results Weekly
  80. Update Business Model Canvas Weekly
  81. Use Canvas As a Weekly Scorecard Week 2 Week 1 Week 3
  82. Insight 100% Visibility on Progress LaunchPad Central 87
  83. Insight Predication of Team Trajectory 88
  84. • 17 out of 233 teams were identified as high performer teams from 10 NSF I-Corps 2012-13 cohorts Evidence-Based Entrepreneurship
  85. Signal: Customer Interviews High Performers: • Interview ~ 2X more customers on average • Peak customer interviews during week 4 Average Customer Interviews Per Week Week Week Interviews
  86. Increased Focus On Testing Customer Segment Hypotheses
  87. High Performance Teams demonstrate significant cadence by mid-point (week 4) • The highest number of hypotheses invalidation occurs in week 4 • The highest number of customer interviews occur in week 4 • High performance teams maintain a relentless pace of customer interviews reaching 50% of 100 interviews goal by week 4 Average Customer Interviews by Week Weeks Interviews
  88. Average Mentor Interactions Engagements Weeks Mentor Engagement Top Performers: • Engage with mentors often compared to average teams
  89. Average Faculty Interactions Engagements Weeks Instructor Engagement Top Performers: • Engage with instructors early and often compared to average teams
  90. Insights National Science Foundation Innovation Corps 95
  91. I-Corps – Insights • It’s not just about the science – Technology and commercialization progress require separate processes – PI’s can’t figure out commercialization sitting in their labs – Technology mentorship is part of the process but it’s insufficient – You can’t outsource commercialization to a proxy (consultants, market researchers, etc.)
  92. Outward-Facing Commercialization & Translational Medicine • Getting out of the building is a big idea • It accelerates speed of translation • It makes our national research enormously more efficient
  93. NSF Commercialization Solution I-Corps • One commercialization program – Common Platform – Centralized Leadership • Best practices – Disruptive idea – Lean/Evidence-based – Common training/education – Consistent evaluation criteria • Nodes not centers – Linkages between nodes
  94. NSF I-Corps Results • Early evidence of success in SBIR Phase I funding – 18% of teams who did not take the class – 60% of teams who did take the class
  95. NSF Program Outcomes • Scientists & Engineers trained as Entrepreneurs – pass on their knowledge to students • Network of Mentors/Advisors • Increased impact of NSF-funded basic research
  96. Evidence-Based Entrepreneurship • What we now know – Commercialization must be a parallel track – Effort must be experiential (No Proxies) – New metrics allow for rational discussion – IT Platform provides tracking capacity: Continuous improvement
  97. Not About Picking the Winners • Enable lots of low cost experiments • Kill the Losers • Double down on the ones that show progress
  98. Insight Will it Work for SynBio? 103
  99. Early Stage Therapeutic Myths The Idea is Key Better ideas create value Funding Gap Early Stage Investment as a market failure Data Quality Findings in preclinical research are often not reproducible Karl@CodonCapital.com
  100. Early Stage Therapeutic Myths The Idea is Key Better ideas create value Funding Gap Early Stage Investment as a market failure Data Quality Findings in preclinical research are often not reproducible Karl@CodonCapital.com The real gap is the expertise to move early stage research toward industrial relevance
  101. Early Stage Therapeutic Myths Karl@CodonCapital.com Data Quality Findings in preclinical research are often not reproducible Data addressing key development criteria
  102. Early Stage Therapeutic Myths Karl@CodonCapital.com Data Quality Findings in preclinical research are often not reproducible Data addressing key development criteria The Idea is Key Better ideas create value Clear path to modifying a disease
  103. Early Stage Therapeutic Myths Karl@CodonCapital.com Data Quality Findings in preclinical research are often not reproducible Data addressing key development criteria The Idea is Key Better ideas create value Clear path to modifying a disease Funding Gap Early Stage Investment as a market failure Operational planjustifying investment
  104. Summary Will it Work for SynBio? 109
  105. Summary Will it Work for SynBio? Yes 110
  106. “God is not on the side of the big arsenals, but on the side of those who shoot best.” Voltaire
  107. Thanks More info at www.steveblank.com 112
  108. The Lean LaunchPad for Biotech Steve Blank @sgblank www.steveblank.com

×