1 Simple thing biotechs need to know to attract VC capital
Finding VC capital for your early stage biotech is not easy. I’ve been asking a few VC’s what single thing they’d want from biotech’s. Here’s the feedback:
Get your pitch heard!
I asked David Grainger of Index Ventures, a leading VC in the UK what the most important piece of advice he could give to biotech’s seeking to raise capital was and his answer was almost instantaneous: It’s the old fashioned elevator pitch.
A VC can worry about whether the details are correct afterwards, but if you can’t tell a VC (or anyone else for that matter) in 30 seconds why what you’ve got is revolutionary, you’re probably going to struggle to raise capital.
David was also full of advice for biotech entrepreneurs – like knowing when to call time on the project and press the kill button, picking the right management team and not keeping all your eggs in one basket. But this stands out as his most important piece of advice.