YOUNG BIOTECH COMPANIES FACE TIGHT FUNDING – MAKE A VIDEO!

I’m fascinated by the promise and accomplishments of  biotechnology.  It has been one of my proudest accomplishment that  has become such a conduit for telling the stories of the Biotech world to the greater public.  This is often in concert with Ahmed Enany, CEO of Southern California Biotechnology Council (http://www.socalbio.org)  I love biotechnology because it shows that profit can go hand in hand with innovation and doing good for the world.

Last week I recorded the SoCalBio networking forum at UCI focused on “Digital Marketing by Bioscience Companies.”  It covered current trends in web, cloud, mobile and social media applications and featured speakers from Advanced Medical Optics, Edwards Lifesciences, DevicePharm and Simple Steps IT.  The video will be available on YouTube this week.

The San Francisco Chronicle just published an article about how early-stage biotech companies are competing for extremely tight funding.

The article states that, “The top 20 percent of U.S. biotechnology companies raising money garnered 82.6 percent of funding in 2010, while the bottom 20 percent drew 0.4 percent, according to a report released Tuesday by consulting firm Ernst & Young.” Just 0.4 percent? Yikes!  That means for a new firm in biotech trying to secure funding, it will be harder than ever. You have to do something to get your ideas and potential products in front of investors.

Have you thought about making a video about your firm? Or present what you want to do with funding to start a firm?  A picture tells a thousand words, as the saying goes and a video tells a million words. Have you seen the “Story Of Stuff”? A viral video that millions of views later made kids and adults actually enjoy hearing about environmental issues?  (http://bit.ly/jFh8M)

Instead of immediately approaching investors with an idea, gain viral and grassroots support first! This will give you way more credibility. An on-line video is the way to do this especially if linked to a social media effort. Check out my website to see more about my work in Biotech and please contact me if I can help you tell your story.

To read the full San Francisco Chronicle article check out – http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/06/14/BU7K1JTHO2.DTL

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