Biotech is a people business. Build the right team, get the right group together to bring the business forward and don’t be afraid to get rid of people that don’t fit the vision.
David Young emphasizes the role of people in building a successful biotech business — and David Young knows biotech. Having authored over 200 patents and successfully managing ARIUS Research Inc. up to its sale to Hoffman-La Roche, David provided insight and optimism to budding life sciences entrepreneurs at last Wednesday’s “Lived It” lecture.
Some tips he offered:
- Be persistent! You have to make your own luck, especially when starting up a company
- About two-thirds of biotech deals are made with early stage companies. Early stage science can make you money!
- Live and love your business – biotech can change the world. It’s not just a job.
- Remain optimistic, despite any failures
- Be loyal to your people, principles and vision
After sharing his history with ARIUS, David addressed the future of Ontario’s biotech industry through his current involvement with OBIO (the Ontario Bioscience Industry Organization), a volunteer organization formed to change the Ontario life sciences environment and increase the chance of success for biotech start-ups. David spoke with fervor about the 40% decrease in Ontario-based health sciences companies and OBIO’s role in renewing our local biotech industry.
Stick with it, everyone! David Young is an inspirational example of the success that can come from perseverance and passion.
Downloads and resources