Do virtual prototypes work for biotech?

If you have calculations or a theoretical basis for your product, a virtual prototype is probably still okay for a small initial investment or grant. Beyond this, and now especially in light of everything happening with Theranos, scientific due diligence will play a big role in moving forward. The single biggest learning point Genesis DNA(GFSA 2105 cohort) had was related to their development timeline: do not plan your development timeline as you would an academic research project. There really isn't time or money to optimize everything along the way, to establish a control experiment for every point of investigation, or to run experiments in serial. Identify the single biggest de-risking milestone and be off to the races. Instead, let there be errors, let there be bugs, let it not work half the time...just build. This can be tough to shift into this mindset if you're coming straight from academia.

 

Was this article helpful?
0 out of 0 found this helpful


      This website provides general information related to legal and business matters. It is intended for educational purposes only. This website does not and is not intended to provide legal advice. Although we take great care to make sure that all of our information is accurate and useful, if you have a specific issue for which you need actionable advice, please come to the Martin Trust Center in person to speak to one of our Entrepreneurs in Residence or consult a licensed attorney or other professional. No attorney-client, advisor, or other confidential relationship exists or will be formed between you and the Martin Trust Center or the Massachusetts Institute of Technology.
Have more questions? Submit a request

Comments

Powered by Zendesk