What’s the difference between an extrovert and introvert in the world of principal investigators? Answer: Are they staring at your shoes or their shoes? The joke Steve Blank told during a fireside chat hosted by NYCBio illustrates the uphill challenge SBIR grant applicants face when they’re asked to break away from the insulated world of the academic community and expose their ideas to the unflattering light of skeptical customers, tough love mentors and cynical investors.
Medical device companies are having a much harder time raising early-stage venture capital than biotech and pharma, according to a recent Silicon Valley Bank report.
“On the Series A side of things, biotech is a pretty stable area right now, but devices have some significant issues in trying to find ventures to support Series A company creation,” said Jonathon Norris, the author of “Trends in Healthcare: Investments and Exits.”
If you have been reading my posts you have undoubtedly seen a number of articles on failed launches and the challenges facing Alzheimer’s research and clinical trials. Since 2002, 99.6% of Alzheimer’s drug candidates have failed in clinical trails. Meanwhile the prevalence of Alzheimers continues to grow as our society ages. Every 67 seconds, someone in the US developed Alzheimer’s, it is the 6th leading cause of death in the US.
Last week we announced a significant new strategic investor in Sablono, a startup developing software for the construction industry. Sablono is one of six seed-stage investments we made last year. This little seed company has done very well: Three out of the six companies got externally funded, and we have another big A round on the way. Still, we are constantly discussing how we, as an early-stage fund, need to tackle seed.
I was sitting with the founders of a company we’ve funded the other day talking about their competition. I love this product and I use it every day. It doesn’t yet have widespread adoption, but it as extremely actively used by the early adopters.
Announcing Ask Us Anything, a Virtual Entrepreneur or Subject Matter Expert Form. This is our “Ask Amy” or “GQ Style Guy” equivalent. It is a forum for current, would be, and want to be entrepreneurs to ask any and all questions relating to the community, being an entrepreneur and starting up a company.
Your questions can be anonymous, so ask all of those little questions you have always wanted to ask. We will go out and find the right expert to answer your question and post the responses every week.