When: 24 Jan 2017; 800am-900am
Where: Quorum, Science Center
Who: Russel Kaufmann
Sit down for a Q&A over coffee and a light breakfast with Russel Kaufman, Executive-in-Residence & Scientific Advisory Board Member, of Pappas Ventures. Pappas Ventures is focused exclusively on investing in the life sciences sector across North America. Russel is certified in International Medicine, holds leadership positions on many related committees, and serves on the board of the University City Science Center. He is a Wistar Professor in the Adjunct Faculty at the University of Pennsylvania, and is currently the President Emeritus of The Wistar Institute. Join us to have your questions answered by an expert!
Russel Kaufmann (duduk)
Russel Kaufman memperolehi ijazah perubatan dari Ohio State Universiti, menjadi pensyarah pada tahun 1980, menetap di North Carolina, melihat perkembangan industri bioteknologi, farmaseutikal di mana ekosistem adalah penting. Antara faktor kejayaan di North Carolina adalah pelaburan dalam pusat bioteknologi, lebih USD$200 juta, mencipta ruang yang begitu luas dan selesa dalam kalangan penggiat dalam industri. Beliau menyertai WiStar pada 2002, bersara tahun 2015, tetapi belum bersedia duduk di rumah...Jadi Pengarah Eksekutif sebuah syarikat selepas bersara, tetapi sebelum bersara sudah terlibat dengan Pemodal teroka dll.
POINTS FROM HIM
If you get too many leaders, you get confused.
How people, community should work together? Our success depends on community
Need mentor, really important to have mentor
Put yourself in a network.
How are you going to get the firm to fund you? You need to have relationship, it will help. Through network, you will get their acknowledge, integrity etc.
We reviewed 600 companies per year,
I am the first filter in my companies.
The team behind the ideas is more important.
We don't invest to make much money, you have to understand the value that we are looking for.
Private investor is looking for money.
Communication through picture is good, people will remember picture, not words.
We just don't invest in idea, we invest in people.
You want to see a team who is working together for certain period of time.
Team has demonstrated their togetherness.
We like to see a team with experience with commercialization process.
Start thinking the end, and working backward.
You need someone who understand financial aspect, CFO really understand everything about capital, finance.
You need to have Chief Scientific Officer
Credibility and your team is really important.
We want to see the evidences for every process, competition,
I like to see executive summary and it is really helpful to understand your firm.
Business plan should have the key points, two to three stages, depends on how much money is you looking for.
The voice has be to 'in the slide'.
The market, competition, intellectual property status, experience of the leader,
Is the capital efficient?
How long you would like to see the slide presentation? not more than 30 slides.
I prepare couple of hours about the company proposal, researching through website, looking for the scientific findings.
Many times we want to sit in a board.
We will find good CMO, CFO through our networks for your company.
We do see the regular reports, not to see what you do everyday.
If we have financial gaps (in the company invested), we manage to raise money to fill the gaps.
We are persistent, passion, try to support the companies we invested.
We invest 75% in therapeutics, 25% in diagnostic devices.
Issue of integrity is very important.
We have 15 people in our team to review your proposal.
We are top 5% of VC fund in USA.
Start-up companies in Philadelphia are moving to NY and Boston because of the environment over there, the funding opportunities, the network.
How people, community should work together? Our success depends on community
Need mentor, really important to have mentor
Put yourself in a network.
How are you going to get the firm to fund you? You need to have relationship, it will help. Through network, you will get their acknowledge, integrity etc.
We reviewed 600 companies per year,
I am the first filter in my companies.
The team behind the ideas is more important.
We don't invest to make much money, you have to understand the value that we are looking for.
Private investor is looking for money.
Communication through picture is good, people will remember picture, not words.
We just don't invest in idea, we invest in people.
You want to see a team who is working together for certain period of time.
Team has demonstrated their togetherness.
We like to see a team with experience with commercialization process.
Start thinking the end, and working backward.
You need someone who understand financial aspect, CFO really understand everything about capital, finance.
You need to have Chief Scientific Officer
Credibility and your team is really important.
We want to see the evidences for every process, competition,
I like to see executive summary and it is really helpful to understand your firm.
Business plan should have the key points, two to three stages, depends on how much money is you looking for.
The voice has be to 'in the slide'.
The market, competition, intellectual property status, experience of the leader,
Is the capital efficient?
How long you would like to see the slide presentation? not more than 30 slides.
I prepare couple of hours about the company proposal, researching through website, looking for the scientific findings.
Many times we want to sit in a board.
We will find good CMO, CFO through our networks for your company.
We do see the regular reports, not to see what you do everyday.
If we have financial gaps (in the company invested), we manage to raise money to fill the gaps.
We are persistent, passion, try to support the companies we invested.
We invest 75% in therapeutics, 25% in diagnostic devices.
Issue of integrity is very important.
We have 15 people in our team to review your proposal.
We are top 5% of VC fund in USA.
Start-up companies in Philadelphia are moving to NY and Boston because of the environment over there, the funding opportunities, the network.
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