Innovative life science companies: Success factors alongside a great idea

Health, life expectancy and quality of life: the life science industry with its pharmaceutical, biotechnology and medical technology sectors can have a positive impact on our lives. Companies in the healthcare sector make a significant contribution to advancing healthcare, prosperity and economic strength worldwide. The markets are impressive, the capital requirements are high and the development risks should not be underestimated. For investors, however, there is also an extraordinarily attractive return on investment if they are successful! We are often asked why we do not invest in a particular project offered to us and its great market potential. As a rule, however, an innovative idea and addressing international growth markets with high customer benefits are not enough for success.

So what are the success factors for the success of a business idea?

We see this as fundamental to success:

• Valid data sets and a proof of concept to demonstrate the realisation of the project and convince industry experts are essential.
• Solid patents to protect intellectual property, including existing freedom-to-operate with regard to the development, manufacture and market launch of third-party rights.
• A solid investment case including a realistic risk assessment, a good realisation/marketing strategy and back-up scenarios.
• A broad-based founding and management team with above-average professional qualifications and international (industry) experience, including a measurable track record. Every company needs strong leaders with vision, realisation and charisma who are able to communicate their vision in such a way that customers, (cooperation) partners and employees believe in it.
• A broad network of industry experts from the pharmaceutical, biotechnology and medical technology sectors, including the regulatory environment, and the direct involvement of key opinion leaders who are convinced by the project and are directly involved in the development, facilitate market access.

These factors play a key role in attracting renowned venture capital investors and convincing them to finance the project. Last but not least, the availability of sufficient financial resources also contributes to successful realisation.