The path of the Indian Life Sciences Entrepreneurship -– is it a bed of Roses or a bed of thorns?

- a Panel discussion at Bangalore Bio 2009

Thursday, 18th June 2009: On Day One of Bangalore Bio 2009, India's premier Biotechnology event organized by the Department of Information Technology, Biotechnology and Science & Technology, Government of Karnataka, Vision Group on Biotechnology and MM Activ Sci-Tech Communications Co, a panel discussion was held on The Path of the Indian Life Sciences Entrepreneurship’, bed of Roses, bed of thorns, with Dr. Sunny Sharma, Senior MD, Asia, OrbiMed Advisors India Pvt. Ltd., as the moderator.

Dr. Sriram Nadathur, Director, Nadathur Holdings & Investments Pvt. Ltd, said, “the lack of an organized market with early stage funding called for familial support, financially. “Investors don’t look at business plans; it’s hard to find an investor until you have results to show. Investors don’t buy numbers from excel sheets. Investors look for trust in the entrepreneur and an understanding of the market and science,” added Nadathur.

Dr. Anu Sharma, CEO, The HR Practice stressed on the importance and need of putting together a team and having a business and skill plan. “Induct like-minded individuals and have an enjoyable work culture. Use public forums actively but, stick to your core idea”, she added when asked to advice start-ups.

When asked to give tips to start-ups, Dr.Vijay Chandru, Chairman & CEO, Strand LifeSciences said, “Do a thorough research and keep checking options. Keep yourself updated about industry information and approach organizations like CSIR.” He said entrepreneurs were at an advantageous stage since a lot of options were available in terms of knowledge, research and institutions. Dr. Chandru laid emphasis on the availability of flexibility and its need.

Cautioning entrepreneurs, Karthik Ganapathy, a partner at Nishith Desai Associates highlighted the importance of checking ones company contract. He said the process of starting a company was simple. “But, make sure you do business together and are cautious”, he added.

Speaking on the importance and role of intellectual property and patenting, Dr. Malathi Lakshmikumaran, Managing Partner, Lakshmikumaran & Sridharan said, “Protect and patent your novel ideas. But before patenting, do your homework on who your competitors are, and how to broaden your invention. Make sure there is no space for others in your invention.” Dr.Malathi also accentuated the role of time saying, “Decide and take your time, be neither hasty nor too late”.

On the business aspect of customer attraction, Dr. Swami Subramaniam, Director, Licensing and External Research – India, Merck & Co. Inc said, “Most importantly your product has to be good. It is easier to sell a product than a service.” He also said it was extremely important to do a target customer search.”

Source : Equity Bulls

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