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Founding a successful startup from science requires both scientific knowledge and business knowledge. In this blog post, I will explain some important steps to follow when creating a successful startup from science.
The first step in creating a successful startup from science is to identify a problem or need in society that can be solved using scientific methods or with an innovative research result. Once a problem or need is identified, researchers must develop an idea on how to solve that problem using scientific methods or a new and innovative approach.
Next, researchers must ensure that their idea is commercially feasible. This requires a careful market analysis to ensure that there is a demand for the product or service in the future. Researchers should also develop a clear business model, e.g. with Business Model Canvas and a strategy for funding the startup.
Once the idea and business model are clear, it is important to recruit a team of talented people around the idea. The team should consist of experts in different fields to ensure that the startup has all the necessary skills and knowledge to be successful. No worries if you don’t have everybody on board at the beginning.
Another important step in launching a successful startup from academia is gaining support and funding. Researchers should approach investors and funding sources to ensure they have the necessary resources to build and scale their startup. There are many local organizations and supporters who want to help you! Invite people for coffee and talk as much as you can with people from the academic startup ecosystem.
In summary, creating a successful startup from science requires careful planning and execution. It requires both scientific and business knowledge. Researchers should ensure that they identify a problem or need in society, develop a commercially viable idea, recruit an experienced team, and gain support and funding. By taking these steps, researchers can create a successful startup and help change the world.