Long-term strategy that works.
Getting investors for your biotech firm can be a challenge. Most investors know that it can take a decade or more to prove a concept, and even then, the outcomes can be uncertain. There is enough proof out there however, and enough science being done that suggests we are turning a corner. And that’s a good thing. Public perceptions are changing rapidly, and the tides are turning on what used to be a tough sell to investors. Many doctors and wealthy patrons who have been afflicted with some of the health conditions being researched, will invest in the technology. People with a vested interest in the outcomes are easier to pitch. Biotechnologies that are far enough along in their development, will be considered now. When investors can imagine what a world with the solution will look like, and a return on their investment can be realized, only then will they be on board. Here are some tips on how to find and approach the right investor.
All investors are not created equal. Watch one episode of Shark Tank and you can see how taking on an investor with the right skill set is crucial.Your ventures success not only relies on the money it will bring, but also the expertise needed to help you along your path to success. Doctors, investment firms and wealthy patrons with a vested interest in your success are excellent targets. Someone who has the condition you are trying to treat with your tech can be a great ally. The perfect fit is out there, It is your job to locate it. Look for someone who has supported a similar venture. Firms who have previously invested in biotech companies is a good place to start. Know what kind of investor you are shopping for, before you start. This will help you develop a short list that is viable and realistic. Some investors like early stage funding, and some will be more on board with late-stage. It is up to you to discover who is who. Make sure you find an investor that your pitch is tuned to. Do not adjust your pitch to suit them. If you have to do this, then they are not the right one for you.
An innovative approach when introducing your concept will help you be memorable. Be creative or be dead in the water
Many investors get approached in the same boring old ways. If you are typical, 90% of the time you will not even be favored with a response. Use an example to get your message across. Don’t use cold calls. Those usually fall on deaf ears. Show your passion and desire to change the world. Use your big personality to exude confidence and charm your potential investor into submission.
Precision in estimating your businesses long term needs should be an essential part of your pitch deck. Put together a plan that is as credible as possible. Give your investor no reason to mistrust that your projections for capital will carry your business into the future. Reveal your road to liquidity for investors, as it will be a priority to them.
Have all of these things in place before you pitch your idea. This will be one more step into insuring a successful pitch. Letting your investors know that their money is safe due to your intense precautionary measure will help you succeed in getting funded. Risk reduction should be revisited at every stage of your business’s development.
Your investors will look at your team very closely. Having the right mix of youth and experience is critical in impressing your investor. Credibility is essential in selling your company as a total package. Make sure you build your scientific advisory board carefully, so that it aligns with your current mission, not past projects. Make sure your advisors are relevant and pertinent to your