When it comes to growing biotech startups, utilizing resources such as virtual data rooms and shared labs can be a valuable asset. Not only does this provide an opportunity for companies to attack cancer from new perspectives, such as through AI-enabled early detection, but it also opens the possibility of creating a trillion-dollar company. As Anna puts it, “We need more companies attacking cancer from novel angles, including AI-enabled early detection. And who knows, maybe one of these will become a trillion-dollar company?”
Scaling Early Cancer Detection
Y Combinator’s newest request for startups (RFS) updates its full list of ideas and categories for the first time in 2018, providing a glimpse into the current zeitgeist. The list covers a range of topics including AI, climate tech, and defense tech, but also includes a specific call for “a way to end cancer.”
While there are already startups tackling cancer detection through technologies such as MRIs, there is room for more innovation in this area. Surbhi Sarna, a partner at YC and former medical device company CEO, notes that reducing the cost of MRIs could lead to faster and more widespread cancer detection, potentially saving lives.
Companies like Ezra, which leverages AI in their screening process, have already gained attention and funding in this space. However, with the support of YC and other startups, there is potential for even greater advancements.
Co-working for Biotech
Nature reports on the game-changing potential of shared lab spaces for biotech startups. This trend has also been noted by Parallel Health, a Startup Battlefield alum, who uses shared facilities in Los Angeles to save time and money while building their consumer biotech product.
According to Nathan Brown, Chief Scientist Officer at Parallel Health, shared lab spaces offer access to necessary equipment and create a collaborative environment for startups to thrive. While most of these labs are located in California, the trend is expanding globally with franchises like BioLabs now operating in over a dozen locations.
However, not all shared labs are created equal and some may better suit the needs of specific startups. It’s important to do research and visit different labs to find the best fit, as recommended by Jessica Sang, CEO of Accure Health.
Virtual Data Rooms
Finally, virtual data rooms are another valuable resource for biotech startups. In a guide published by a16z, these data rooms are deemed the unsung hero of biotech financing and are also helpful in business development talks.
These virtual data rooms offer a secure and organized way for startups to share important information with potential investors and partners. Properly utilizing this resource can greatly benefit the growth and success of a biotech startup.
