The Salon Series is intended to provide a friendly, social environment for biotech professionals to meet and discuss matters of interest and importance. Service providers with entrepreneurial expertise and deal making contacts are always welcome.
At each salon, a selected topic is presented by senior executives in different fields through prepared presentations or a panel discussion. Attendance is limited to no more than 40 individuals to provide the opportunity for attendees to meet each other and the speakers of the day.
| | $100
Individual Member | Charter Member | $250 Biotech
Company | $250 Service Provider Company | | Networking Opportunities | Yes | Yes | Yes | Yes | | Reduced Cost for Salons, Annual Conferences, etc. | Yes | Yes | Yes | Yes | | Web Site | Yes | Yes | Yes | Yes | | | | | | | Free Board of Consultants' Initial Consultation | Yes | Yes | Yes | Yes | | Meetings w/ top Governmental and Regulatory People | Yes | Yes | Yes | Yes | | President's Report and Newsletters | Yes | Yes | Yes | Yes | | Receive E-mail Announcements | Yes | Yes | Yes | Yes | | Specialized Workshops and Training Sessions | Yes | Yes | Yes | Yes | | Opportunities to Publish | Yes | Yes | Yes | Yes | | Archived Monographs and Articles | Yes | Yes | Yes | Yes | | | | | |
The Myths
MYTH #1: Biotech firm development is only about science, including having the best science program.
BMI's Analysis:
Sadly, too many scientists have started biotech firms believing this, only to find their "burn rate" cannot be sustained because investors see no progress toward commercial markets. Regulatory, marketing and serial entrepreneurial management skills are all necessary for a bioscience firm to succeed. Good science helps but it is not a panacea for management skill.
MYTH #2: All biotech companies are created equal and have an equal chance for success.
BMI's Analysis:
"Every hand's a winner and every hand's a loser." A variety of interrelated factors contribute to the ongoing success of a biotechnology company. These factors and their interplay must be managed. Experience is one of the primary determinants of successful management.
MYTH #3: Biotechs can normally attract outside professionals who know how to contribute to the ultimate success of the entity.
BMI's Analysis:
Most biotech executives find it a challenge to maximize the performance of their attorneys, accountants, consultants and other service providers appropriately and cost effectively. Even service providers at networking events can be a valuable source of expertise and referrals.
MYTH #4: If the CEO/entrepreneur is smart and focuses on technology, management issues will take care of themselves.
BMI's Analysis:
On the contrary, many entrepreneurs never succeed due to management suboptimization or failure.
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