Team:IISER-Pune-India/TeamNotebook/Team Notebook 11e9906b405543a29361e38a50c81024/From iGEM to Entrepreneurship - Stockholm e27a244a362e45eb9563e205c75758ed

From iGEM to Entrepreneurship - Stockholm

From iGEM to Entrepreneurship - Stockholm

DescriptionA workshop by iGEM Stockholm on converting your iGEM projects to start-ups
HP sub-branch
Property 1
Property 2

Speaker - Dr Fredrik Blitz (Business consultant)

  • Identify stake holders
    • Internal- employees, etc.
    • external- Suppliers, society, government, etc.
  • Business model
    • Value proposition - What gain do you offer the customer?
    • Who are we targeting? Individuals, specific gender, specific problems, business to business clients.
    • Value Chain- How are the value proportions created? Every product has contributions from a lot of different people. Our company doesn't involve all people from research to marketing. We add a small value to the product. Who is involved in this chain? Suggestion: Try not to directly target end-user because that is hard. Instead collab with a company that already does that.
    • Revenue model - How profitable is the business? How do you price your product? The cost of product has to be over the cost of making the product.
    • A business model should have a scalable revenue model. Can you make money while you sleep? Eg: Subscription models, create value around your product, etc.
  • Intellectual Property
    • Patent- protect the idea for some amount of time. You don't have to commercialize it yourself but you can ask someone else and settle for a cut. Look at patent applications to understand their language.
    • Trademarks- Name of company, figure
    • Copyright- If we publish something as a part of iGEM we get copyright
    • Digital assets- domain name, etc.
    • In US we can have patents on software. In Europe we can patent processes.
  • Market analysis
    • If you have an idea someone might have already thought of it. But that ensures that there is a market for it. We can mimic them, get some of their employees.
    • We look at the existing market and look at the existing player- suppliers and customers.
    • Provide an alternate service, or a similar one which makes people choose.
    • If you have volume but no margin, then no one will buy shares.
    • How do we position ourselves in the market? Is there something special about our product? Do we market it differently?
    • Every company has to publish their tax returns with balance sheet. Find that and see where they use their money, what are their margins.
  • Digital Transformation
    • When do you deliver something? Where? Is accuracy compromised by larger data points (think of apple watch measuring heart rate as compared to a BP machine)
    • Collect a lot of data. Collaborate with AI company and use this to improve product reach.
    • Without technology, we cannot make our products reach the end consumer.
  • Regulatory Clearance
    • Make a list of all the regulations that affect the idea.
    • These regulatory clearances take time, so think of compliance to these clearance early.
    • We might consider fitting our product under another company to get done with this faster.
  • Capital Resources
    • Take the first steps without external help- the longer we can work sponsor-free the more people will invest more money in your shares.
    • Meet a venture capitalist- they check your CV, they make an evaluation based on this.
    • Soft venture capital- from government, etc. which you get as seed money and you don't have to pay back.
  • Marketing strategy
    • How do you tell you story? Where do you come from? Why are you providing this product?
    • Influencers- who influences the market and how do we get them to promote our product?
    • Digital marketing- Linkedin
  • Security and Safety
    • They are always there.
    • You can make this your selling point. Reducing fear can sell your product.
  • Sustainability
    • Not sustainable- pointless- not good for society but also the big investors look for this.


  • Don't analyze too much - "Paralysis by analysis"
  • Get data from consumers first before selling your product.
  • Data-driven decision making
  • It's all about the people
  • Money is a sign value to society