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LEAN LAUNCHPAD
FOR LIFE SCIENCES
AND HEALTHCARE
University of California Center for Accelerated Innovation
Stephanie Marrus NSF I-Corps National Faculty Director, Entrepreneurship Center at UCSF
NSF/NIH Innovation Corps
• National innovation ecosystem based
on Lean LaunchPad framework • Over 400 teams, 100 institutions
Entrepreneurship Center@UCSF
The Problem: 90% + of Startups Fail
Top Reasons Startups Fail
1. The market. Value proposition.
2. Business model failure. Customer acquisition.
Product/market fit
http://www.forentrepreneurs.com/business-models/why-startups-fail/
Science/Technology Development
Write Business Plan
Seek Funding
Search for Customers/Partners
Traditional Entrepreneurship Process
“Faith-Based” Approach
• I have an amazing opportunity
• I have data
• I’m smart and passionate
What more do you need to know?
Lean LaunchPad’s “Evidence-Based” Approach
Identify the Problem/Solution
Test with “Customers”
Validate Solution is Valuable People Will Pay $
Build a Minimal Viable Product
Test Again
What we Thought: Startups are Small Big Companies
What We Now Know
Startups Search for a Business Model
Companies Execute
What We Used to Believe
Start With a Business Plan , Operating Plan
and Financial Model
All I Need is the 5- Year Forecast
What We Now Know
Planning comes before writing the plan
Business models are dynamic
Plans are static
Startups Are Not Smaller Versions of Large Companies
A Startup is a temporary organization
designed to search for a repeatable and scalable
business model
Startups Are Not Smaller Versions of Large Companies
Large Companies Execute Known Business Models
Startups Are Not Smaller Versions of Large Companies
Startups Search for Unknown Business Models
Startups Fail Because They Confuse Search with Execute
Customer Development
More startups fail from a lack of customers than from
a failure of product development
Founders Run a Customer Development Team
No sales, marketing and business development
Business Model Canvas
©2011 Stephanie K. Marrus
• Pharma • Biotech • CRO • FDA • Supplier
• FDA • IP FTO • Manufacturing
• Product benefit • Market • Competitive
position
Hospital Pharma DTC Mobile
User Payer Hospita Insuran co. Influenc Saboteu
How to create demand KOLs Patients SAB
Preclinical Clinical trials Manufacturing Royalties
Partnerships Investors Consulting
9 Guesses
Guess Guess
Guess Guess
Guess Guess
Guess
Guess Guess
What We Do in Customer Development
1. Find out the Problem
2. Test the Solution
You will do at least 10 interviews per week ~ 75 interviews !
Frame Commercialization Hypotheses
• Customer? • Product? • Value proposition? • Product/market fit? • Payer? • Reimbursement ? • Regulatory path? • IP landscape? • Partners?
Update Business Model Canvas Weekly
Use Canvas As a Weekly Scorecard
Week 3
Week 2
Week 1
You May Have to Pivot
Flipped Classroom Lectures on Udacity
Build a Minimal Viable Product (MVP)
Work in a Team
Class Simulates a Startup
• Pressure, uncertainty, challenges • Fail fast, learn quickly, pivot • Go outside your comfort zone • Deal with unreasonable expectations
Metrics: LaunchPad Central
Videos
• http://www.slideshare.net/sblank/bcn-biosciences-icorp-nih-video-121014?qid=7913d083-caba-4e8a-a022-02721beab277&v=default&b=&from_search=23
• (NIH Team)
• http://vimeo.com/groups/213077/videos/81146693
Class Start Dates
Preliminary Schedule
• Application deadline 1: April 1
• Application deadline2: April 6th
• Preliminary Screen: Week of April 12
• Video interviews: Week of April 27