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New product success with startups, presented By Barry Brownlow As part of the AstraZeneca Series, University of Toronto Master of Biotechnology 3 Agenda àStatistics and perspectives àLearning exercises àReal life examples àTips on becoming successful
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New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
New product successwith startups
A few tips on channeling your creativity and energy into
personal & business success
Presented By Barry Brownlow ([email protected])
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Disclaimer Brownlow & Associates works with business builders to
ensure that they receive the best advice and support possible. This presentation “New product success with startups, as part of the University of Toronto AstraZeneca series” was designed to help students understand some of the factors that influence the success of start up companies. This is an information presentation and does not anticipate the unique needs and special circumstances of each individual. Consult your professional advisor.
For further information, e-mail Barry Brownlow, C.A. at [email protected]
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Agenda Statistics and perspectives Learning exercises Real life examples Tips on becoming successful
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Business success drivers(Today, some components of #1)
1. New products2. Marketing3. Customers’
perception of quality4. Cost reduction5. Capacity
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Stats for startups / new products
90-99% failure rates “Alan Cornford”
$300M lost CMDF, “Jack Hirsch”
95% achieved success rate for new products “Doug Barber”
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Dr. Alan Cornford ADM Science &
Technology BC Simon Fraser technology
transfer 3,000 new ideas = 1 new
product 10 stages each 50% loss 66% success private 4% success public 1,3,3,3 = 10 VCI
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Dr. Jack Hirsch Founder CMDF Experience Cost/benefit drivers
• Clinical need (oral vs. injection anti-coagulant)
• Market size• # of Competitors• % improvement
provided• Cost of clinical
development
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Why such high failure rates?
Teams of two Exercise one – My greatest strength! Exercise two – Can I help you?
What did we learn?
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Doug Barber Employee Founding member 95% new products
achieve success 20% return on assets
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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GennumDoug’s points A customer at every
turn to qualify, qualify, qualify
Priced on customer’s perception of value
Value price all alternativecombinations
Design out alternatives
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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GennumDoug’s points All new products are
connected with customers who knew what we were doing
Commerce is difficult, Find ways to keep it going
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Hugh & Patti Hoogendoorn Employees Founders Manufacturers of
premium quality antibodies and antibody-related products
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Affinity BiologicalHugh’s points Have firm commitment
from customers Not a one trick pony
(customer) Work on a global scale
• Identify all customers (& potential) globally
• List competition and compete on a worldwide basis
The discipline of a market feasibility study
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Alternative Paths Failure Path - Invention, IP, patents, financing
and failure Great idea with no orders, no customers Lots of debt You do not have a business
Success Path - Customers perception of value and new products
Customers and orders You have a business
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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A path to your success1. Get in front of
customers 2. Include customer at
every turn3. Find a product you
can make4. Get an order and fill
the order5. Find a mentor/coach
New product success with startups, presented By Barry BrownlowAs part of the AstraZeneca Series, University of Toronto Master of Biotechnology
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Questions
