Hot science, cold commerce

We spotted an interesting article - this weeks Science Business Viewpoint . In it Domenico Valerio talks about the lessons he learned whilst starting-up a gene therapy company. Domenico is now a general partner in a new Dutch venture capital fund, Aescap Venture and also gives insight into the kind of entrepreneurs he’s now looking to fund.

The top tips we picked up on are:

Know the strengths and weaknesses of your technology
Don't be a scientific entrepreneur with your heart lost on the technology, be more of an entrepreneur than a scientist

Work with the best
That includes investors, as well pulling together a top management team and passionate staff

Say no to the second best
Even when there is pressure for the business to grow, don't take on second rate employees

Create a culture in the company that is business-like
Understand your customer from an early stage. Licensing activity may be a difficult strategy to adopt but the benefits are not just about generating cash. It can give you an insight into your customer's perspective that you may not other wise get until it is too late.