Kauffman Life Science Ventures Summit to guide startup owners
Second only to funding, establishing a sustainable revenue model was one of the biggest concerns cited by early stage digital health entrepreneurs in a 2011 survey. And with the life science landscape shifting toward new low-cost preventative and digital technologies, it’s no surprise that startups are stressing over choosing the right business model.
To guide entrepreneurs in laying out a plan for creating, delivering and capturing value with their products and overcoming other entrepreneurial challenges, The Ewing Marion Kauffman Foundation is hosting The Life Science Ventures Summit on June 22 and 23 in San Francisco. The summit will bring together successful entrepreneurs and experts in the healthcare industry to offer practical guidance to up to 200 entrepreneurs who are selected to participate. April 9 is the deadline for entrepreneurs to apply.
With an agenda created based on feedback from life science entrepreneurs, the event will cover issues and challenges with starting a company in four industry sectors: medical devices, diagnostics, therapeutics and digital health. Lectures and panel discussions will answer questions like, What are the key moving parts that I need to think about as I formulate my business model?
When, for example, should a startup write a business plan? Writing one is a good way to articulate a focus and demonstrate that a startup has done its research and strategizing, but writing one too early could get the company stuck. And who should the product’s target customers be? Business-to-business companies and business-to-consumer companies work better with different business models.
Participants will hear insights and lessons from entrepreneurs who have done it themselves, including Steve Blank, the founder of eight Silicon Valley technology companies; Alexander Osterwalder, author of Business Model Generation; and Kim Popovits, the CEO of Genomic Health.
Up to 200 life science entrepreneurs across the four industry sectors will be accepted based on two factors: (1) How much they will benefit from the experience based on where they are in their early-stage entrepreneurial journey and (2) the commercial viability of their plan.
The application and more information can be found at www.kauffman.org/lifescienceapp. The deadline for application is April 9, selected applicants will be advised by April 20, and registration will open April 23. The registration fee is $100 before May 11, 2012, and $125 after that date.
The Kauffman Life Science Ventures Summit is sponsored by the California Institute for Quantitative Biosciences (qb3), Stanford BioDesign, Rock Health and MIT’s H@cking Medicine.