NovoCure (EF, Thursday, Week 10)
entrepreneurial-financeyear-twoUseful criteria for tech-push "experiments" (from WiTricity case):
-- High willingness to pay
-- High tolerance for Version 1.0
-- Quick, discriminating feedback
-- Low/no strings attached
"The only weapon you have as an entrepreneur [trying to raise funding] is scarcity." -- Bill Doyle
Big Pharma is basically the only set of institutions capable of doing real biotech patent due-diligence. Independent lawyers are notoriously bad.
Funding for biotech: VCs vs. Strategic investors vs. Venture philanthropy.
As with all things, match investor to intended strategic path. VCs care about quick returns and high potential. Strategic investors can lend expertise and provide exit option, but might complicate exit (signaling value if they do not acquire you) and you need at least two in your capital structure to avoid "big company's captive startup" syndrome.