Mark Ahn Explains Key Elements to Biotechnology Startup Success
As originally reported in this article from TheStreet, the well educated and informed biotechnology industry expert Mark Ahn explains the factors distinguishing success and failure in the changing world of biotechnology startups. He discusses the popularity of Biotech companies and the messages they offer such as curing horrible illnesses and offering solutions to other medical problems or conditions. He says that most investors are interested in finding well established firms and finds the industry is filled with companies offering great ideas but not always been able to provide the stability and follow through required of biotechnology firms.
Most biotechnology firms become successful by being resilient despite the long development cycles and he suggests following a business plan despite the urge to follow the emerging trends in the competitive biotechnology industry. The winds of change will blow but the main factors setting apart the successful firms and the unsuccessful firms seems to rely on the ability to remain consistent in a industry dominated by change. This is also an important factors to consider for investors wanting to find the right biotechnology company. Investing in the newest company isn’t always the most profitable decisions for wise investors aware of the fleeting success often gained by new firms. He recommends looking to the older and more established biotechnology companies in terms of making sounds and financially secure investments.