> My biggest mistake was that I didn't have experience as a biotech researcher or postdoc working in a lab.
That is is big problem - good to recognize it as such.
I can tell because the article, though lengthy, never seems to state an explicit problem to be solved. Rather, various ways to apply technology to a field are discussed.
This is a recipe for failure. You need 3 things:
1. a problem to be solved
2. a customer who has that problem
3. money in the customer's pocket waiting to be transferred to yours
The article never even gets to (1).
Regarding (2), if academic groups are the target customer, you're going to have a bad time. They have little money and they tend to be all to happy to build something that sort-of replicates the commercial product you've created for them.
This leaves scientific for-profit companies. They have lots of problems (and these days money), but these problems tend to be quite difficult to discover and solve because of the extensive domain and industry knowledge required.
Yes. I wonder if the author had first worked on the patent side (I'd be interested to hear more about this idea). Perhaps working on patents first would be a path to get experience (and product-market-fit). From there, one could branch out into other domains (e.g. bio).
That is is big problem - good to recognize it as such.
I can tell because the article, though lengthy, never seems to state an explicit problem to be solved. Rather, various ways to apply technology to a field are discussed.
This is a recipe for failure. You need 3 things:
1. a problem to be solved
2. a customer who has that problem
3. money in the customer's pocket waiting to be transferred to yours
The article never even gets to (1).
Regarding (2), if academic groups are the target customer, you're going to have a bad time. They have little money and they tend to be all to happy to build something that sort-of replicates the commercial product you've created for them.
This leaves scientific for-profit companies. They have lots of problems (and these days money), but these problems tend to be quite difficult to discover and solve because of the extensive domain and industry knowledge required.