Entrepreneurs who make decisions based on reliable data increase their chances of success significantly. Data helps reduce biases and enables you to develop a clear roadmap for yourself and your team. Data-driven decisions increase efficiency by reducing costs and efforts. Moreover, data reduces uncertainty at a time when certainty has become a rare commodity.
Even if you are convinced of the value of data-driven decisions, you may find the process of collecting the needed data to be daunting. But we have got all you life science entrepreneurs covered, as you can leverage our database which already includes details about 5400 companies, 2700 investors, and 11 accelerators who are active in 41 countries, in addition to 1500 fundraising announcements thus far and counting. All you need to do is sign up for free and fill out your profile information.
Build a Data-Driven Business Model With CipherBio
Throughout your journey as an entrepreneur, and in your efforts to build a full-scale enterprise in the life science sector, you will need various types of data. Most importantly, you will need data about who can be a potential partner, who will be your competitors, and who can provide needed funds to your company from the seed stage until maturity.
Understanding Market Trends
If you swim against the tide, you will run out of energy sooner or later, whereas if you swim with the current, it will be a smooth journey. CipherBio helps you understand what market forces are at play in real-time. The weekly digest informs you about the most recent deals in the life science sector, which will show you what types of projects investors are interested in, and what types of startups are managing to move forward. The insights page gives you a more detailed and comprehensive view of recent developments. The articles in the insights section usually span longer periods of time and discuss emerging trends in investment activity, including activity by corporate VCs, international investors, incubators, and accelerators.
The information mentioned in the weekly digest newsletter and the insights section should help you tailor a more deliberate communications campaign, after understanding what investors are looking for and their preferences and priorities.
Identifying Potential Investors
CipherBio helps you find potential investors in multiple ways. The first and most straightforward way is to look at the profile of each VC or corporate VC individually if you are planning to approach any of them. By examining each of their portfolios, you can understand where your current company fits, and assess whether it will improve the portfolio of the corporate VC (such as reducing its risk exposure or its variance). You can also understand which funding rounds the investor is more involved in and whether that meets your current funding needs.
The second way to find investors is to use the search console provided by CipherBio. This should enable you to choose the industry vertical (Biotech, or Digital Health, or Medical Device, and diagnostics), and then choose the date and type of investor (VC, or Corporate VC). After you set the parameters and click on “run search”, you will see all the deals that match your queries. By looking into the details, you will find deals that may be close to what you are trying to achieve. You can read more about any of the deals by clicking on the relevant link.
A crucial step for any entrepreneur in the life science sector is to fill out his profile and ensure the information is kept up to date. Our platform enables both startups and investors to find one another. Once your profile is complete, it will be much easier for an investor to find your company when they search for startups that match their interests. Having a complete profile increases your chances of landing funding significantly.
Register for a free CipherBio account to find exclusive life science industry insights.
Identifying Potential Partners
Building partnerships is essential if you want to move forward quickly, and CipherBio can help you find partners in multiple ways.
First, you can find accelerators and incubators that are likely to support your venture by clicking on the accelerators/incubators button at the top. This will show you the accelerators and incubators in the sector with the number of companies they have supported displayed on the right side. You can browse the companies to understand the preferences and the focus of the accelerator or incubator. Their preference would usually mean they have the capabilities to support startups within a certain segment or category, which should play to your advantage if you choose the right accelerator or incubator.
The second way to find partners is to search for companies whose specialty complement that of your startup. For example, if you have diagnostics capabilities you can partner with an AI company to enhance your offerings. You can search in our database to see which types of companies are more likely to cooperate. You will be able to identify the stage of development and funding the company is in, to assess whether this is a good opportunity. Moreover, the network visualizations will show you how different actors in the industry are connected.
This will make it easier for you to find your place in the sector by building the right connections and assuming the right position.
Identifying Potential Competitors
The life science sector is now more characterized by cooperation than competition. Nonetheless, you should still be aware of potential rivals. Typically, those will be companies that are offering products and services that are very similar to yours or can replace yours. The first step would be to research the companies working in the same segment as you do, such as biotech, medical devices, diagnostics, and digital health/AI.
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Generally speaking, the biotech segment encompasses many actors, and thus you need to differentiate yourself well to stand out. This should not be a big challenge as there is much room for innovation and invention in this segment, as well as others. Other segments are less crowded but can be competitive, nonetheless.
Crafting a Business Plan Using CipherBio
In addition to the above elements, which are components of a professionally written business plan, you need more details. Those details can include funding requirements, resource acquisition timelines, and other schedules as well as forecasts. By looking at the funding history of similar companies, you can make more accurate assumptions about the growth of your own company. While those forecasts will still need to be refined, they do give you a realistic picture to some extent and make the trajectory of your company easier to draw.
We are continuously expanding our database to ensure timeliness, reliability and validity. This database should enable you to construct your company on a solid foundation and make informed decisions. The purpose is to help you scale faster and mitigate risk. We have been gathering data about the investment activity in the life science industry since 2019, and this is an ongoing process. In every step of your journey as a life science entrepreneur, we aim to provide the data and information that you need. We hope this should help accelerate your progress, and help the entire life science ecosystem flourish.
Join us in our effort to capture the entire life science ecosystem in our database.
We strongly believe that the availability of a high-quality database about the life sciences ecosystem increases sector efficiency and benefits every company raising capital. Thus, if you are an investor or a startup in any of the relevant industries, we would like to extend an invitation to you to join the platform and or subscribe to the CipherBio insight newsletter.
Fill out your digital profile, or update it with your company’s latest news, so that you can be a part of the data set that represents the life science ecosystem.