Event Reports

Building Biotech in BC - What it really takes to be a successful entrepreneur?

Leo Chen - Thursday, October 02, 2014

Vancouver is a thriving, booming community for biotechnology sector. As our expert panelists put it at our “Building Biotech: Entrepreneurship in Canadian Bioeconomy” event, there is no better place than Vancouver to start a business if you have an idea! At this event, we had a chance to connect with industry mentors, biotech leaders, entrepreneurs and students under the same roof. We are excited about the sense of community that we have in Vancouver. There were few key themes brought up by our panel. By no means, this list is complete, but I think these are important life lessons.

  1. MARKETING: Learn how to sell! You need to be able to sell your science/product/services or whatever that is you want to offer.
  2. IMPACT: Be aware of the fact that through our discoveries and ideas, we all have the real ability to create an impact. No effort is small.
  3. CURIOSITY TO INVENT: Curiosity of invention and solving problems is the driving force behind successful business ideas and great scientific discoveries.
  4. RISK TAKING: There is a certain level of risk associated with starting a business. At the end of the day, it is all about following your dreams and managing your expectations.
  5. EXTEND BEYOND YOUR COMFORT ZONE: Going to networking events, meeting and talking to people you normally wouldn’t have a chance to interact with helps you get outside of your comfort zone. Once you cross this line, you can make great connections with community.
  6. BUILD A NETWORK: Surrounding yourself with a community of like-minded peers who can advise you and mentor you is important. This becomes important, especially if you are thinking of starting your first venture. Mentors are an extremely valuable resource and your guide on your path.
  7. PEOPLE’S SKILL AND TRUST BUILDING: Building a certain level of trust with your clients/community/target market is critical as these people will ultimately fund you and support your product. Do good work and be honest.
  8. TEST IT OUT: If you have an idea, test it out. Talk to potential collaborators or experts in the field, let them critique it. Walk them through your plan. This is how you can refine it and catch any pitfalls. Your mentors can also help you with this process.
  9. ENERGY, DEDICATION AND STRENGTH: You are trying to build a company and see your idea getting executed. Passion, enthusiasm and dedication will help you get through failures and keep working in the right direction. Be committed to your work.
  10. PLAN AND PRIORITIZE: It is extremely important to have a clear plan of action with timelines. List your plan of execution and follow the plan. This will help you stay on track and get the most important things done first.

Stay inspired and Stay Connected!
Kiran Bhullar October 2nd, 2014

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