Biotechnology startups often arise from an academic laboratory that has come up with a new technique or concept. They will have a working proof-of-concept system that they have translated from their lab. However, taking this system to the next level faces several hurdles, and not all of them are directly related to the business aspects as academic scientists may assume.
One aspect that is often overlooked is the value of professional-looking code; a polished, bug-free operation; smooth workflow; and a refined system. While scientists well-versed in the specific field may appreciate the value of the novel technology, potential outside investors or industry partners may not see this value or evaluate it solely on this aspect. They will hear many similar pitches about revolutionary techniques or technology. They will also assess the readiness of the technology to compete in the market, considering aspects such as the cost or size of the system, complexity of use, or similar technologies. A biotechnology startup that invests in a professional firm to handle these aspects can significantly improve their chances of successful business relations with investors or industry partners.
Another is that biotechnology startups will often be limited in personnel. They will not have multiple technicians and an in-house engineering team. A streamlined and polished system can significantly increase the efficiency and reliability of testing and development when personnel and labor is limited. The firm can also bring in complementary expertise where and when needed on a variety of subjects beyond hardware selection or integration, including data analysis and organization methods.
The biotechnology startup can also utilize the consulting firm to either develop a prototype or draw out a technically realistic roadmap to one. A prototype with equivalent performance but significantly reduced size, cost, and complexity can:
The right firm will have extensive experience working with others and be useful when working with:
In short, they can be a trustworthy, reliable partner through various stages of technology development.
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