Lunch & Learn
“Startup’s & E.I.R’s”
Presented by: Robert Masterson and Dick Rylander
Date: September 29th 2015
Entrepreneurs in Residence
The Maze
Finding the right path only happens if you:
1) Define what success is
2) Find the people
3) Raise enough money
4) Fill a commercial need
5) Have a great business plan
6) Pursue with passion
Entrepreneurs in Residence
Understand the Challenges
What is Success?
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Funding?
Approval?
Sell company?
Go-to-market?
• Only 10-20% reach market
Entrepreneurs in Residence
Life Science Startup Challenges
• For the scientist: Things vs. People
• Understanding your strengths and
weaknesses & asking for help
• Have the ability to speak two languages:
Business and Science
Entrepreneurs in Residence
Financing
• Entrepreneur personal
funds
• “Friends and family”
• Personal credit card and
other borrowings
• Angel investors
• Venture capital
• Corporate direct
investment
• Venture leasing
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Mezzanine financing
Merger and acquisition
Initial public offering
Secondary/follow-on
public offering
• Private placements – debt
& equity
• Buyout/acquisition
financing
• Corporate debt
Entrepreneurs in Residence
Filling a Commercial Need
• Solve a real problem or do “it” much better
• Develop a product and not just a technology
• Define a market large enough to attract
attention that you can sell
Entrepreneurs in Residence
New Resources for Life Sciences Resources
EIRs are team members:
OHSU Researchers/Clinicians + TTBD + EIRs
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Help spin out new life science companies.
Share real-world, life science startup experience.
Help identify technologies with commercial promise.
Advise about fundraising strategies and product
development.
Entrepreneurs in Residence
New Resources for OHSU Life Sciences Startups
Entrepreneurs in Residence:
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Objective observers, confidential.
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Provide expertise on ‘proof of concept’,
market analyses, business planning,
financial projections.
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Advise on basic/applied research
& development next steps for startups
and inventor teams.
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Work with new and existing OHSU
life science startups.
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Mindful of helping OHSU life science ecosystem.
Entrepreneurs in Residence
New Resources for OHSU Life Sciences Startups
How EIRs can help: Step 1.
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EIRs coordinate with Daphne Emerson
(TTBD); introductions to OHSU
researchers & clinicians.
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Meet in person and discuss technology.
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‘What is the unmet medical need your
life science technology helps solve?’
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Milestones, timelines, fundraising.
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Daphne coordinates further meetings; EIRs suggest topics
(e.g. market potential, FDA, feasibility).
Entrepreneurs in Residence
New Resources for OHSU Life Sciences Startups
How EIRs can help: Step 2.
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EIRs meet with researchers in
person, Skype or telephone.
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Meet weekly/biweekly/monthly.
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Possible introductions to life
science company/community
members (i.e. LinkedIn).
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Help identify specific market
niches and commercial potential.
Entrepreneurs in Residence
New Resources for OHSU Life Sciences Startups
How EIRs can help: Step 3.
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Develop ‘value proposition’.
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Investor pitch preparation,
using Lean Canvas approach.
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Startup financing: angel, venture
capital, strategic investors.
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Possibly join as or suggest
life science startup CEO.
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Help team with successful startup launch.
Ideation > Company Formation > Launch > Traction > Exit Strategy
Entrepreneurs in Residence
What we need from you
EIRs need your help:
1) Department chairs to introduce us at faculty
meetings and encourage people to reach out to us
2) Faculty to engage us early to help define market
opportunities, reduce risk factors
3) OHSU research community to use us as a sounding
board, ask questions about life science startups
Entrepreneurs in Residence Team
Your E.I.R. Team is waiting for you…
First point of contact is Daphne:
Daphne Emerson, MPA, Alliance Manager
emersond@ohsu.edu
Direct: 503-494-8913
EIRs:
Business Development
Technology Transfer & Business Development
Robert Masterson, Ph.D.
masterro@OHSU.edu
Entrepreneur In Residence Team Coordinator
Startup Company Resource Management
Investor Outreach, Tracking Company Lifecycle Development
Startup Advisory Group Liaison
Annual Startup Symposium Lead Project Manager
Richard Rylander
rylander@OHSU.edu