One thing constant in this world is change. Every single day, there are changes in every aspect of daily existence with new technological breakthroughs and advancements in knowledge. One of the industries that face many changes is in biotechnology with constant research, tech improvements, and scientific discoveries.
In this field, all businesses, research institutions, and organizations that deal with the improvement of the quality of life of all organisms is taken in to account. In terms of the human health, this includes understanding of diseases so mankind can benefit from the studies and researches; and thereby, fight against these health pandemics. Today, early stage biotech funding is dominated by the “venture creation model”. In the venture creation model, the VC firm creates the company. They have an initial idea and put together a team of favoured executives, often from their pool of entrepreneurs-in-residence, to run it. The startup is typically incubated out of the VC’s offices. The VC invests a large amount of money upfront and takes a controlling ownership stake.
Just as VC-incubated tech companies made sense when tech companies were expensive to start, this model made sense when the cost to start a biotech company was high. Until recently, no one could get anything done before a VC wrote a $10M check, so this was the only way to get started. Because of this infrastructure, bio companies routinely clear major scientific hurdles during YC’s short program. Often therapeutics companies are able to show that their concept is effective in animal models. Diagnostic companies can show success with human samples. Synthetic biology companies successfully engineer cell lines.
We present to you 10 Most Promising BioTech Startups - 2020