LISTEN: Your idea for a startup sucks
Have you ever considered starting your own biotech business? With rapid advances in technology and investor enthusiasm, now would seem to be the best time to make your business dreams a reality.
Or is it? In one of the standout panel discussions from Festival of Genomics California, Jeffrey Reid of Regeneron Pharmaceuticals takes the ‘Grumpy Cat’ view of genomics startups. Jeffrey describes Grumpy Cat as his spirit animal, arguing that “you always have to ask yourself what Grumpy Cat would do, particularly with the culture of over-enthusiasm in startups.”
In a lively and humorous discussion the panel take a look at the often grim realities of starting a business, in a market where there are a lot of very similar companies working on very narrow niches.
On whether you should start a business or not, the insights from the panel included “No, don’t do it.”, and “Do it, but be prepared to work extremely hard. It’s an emotional rollercoaster.”
“One of the most important things is not just knowing what to do, but knowing what not to do… you need a really good idea, excellent science, good people, and the timing has to be right.”