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Home › Topics › Stages of Starting a Biotech Business › Develop a Business Plan

Sarah Johnson

1: Executive Summary, Company & Product Descriptions

Topics Stages of Starting a Biotech Business Develop a Business Plan 1: Executive Summary, Company & Product Descriptions
Develop a Business Plan

1: Executive Summary, Company & Product Descriptions

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2: Business and Management Structure

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3: Seek Professional Assistance

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4: Market Research

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5: Financial Analysis and Projections

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6: SBIR/STTR and Other Seed Funding

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7: Venture Capital and Other Funding

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8: Product Development and Marketing Plan

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Executive Summary, Company & Product Descriptions

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Scenario
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Challenge

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Business plans begin with an executive summary and descriptions of your company and product:

Executive Summary

  • Your business’s focus, mission, the products or services offered, ownership, and a summary of your plans.

Company Description

  • The company name, location, key people, history, nature of the business.
  • Goals and how you will achieve them.
  • Funds needed and how you will use them.

Product Description

  • What the product is and how it works.
  • Its value proposition, which is the reason someone will want to do business with you, including:
    • The customer’s need or problem.
    • What your product offers, its benefits.
    • How the benefits solve the customer’s need or problem.
    • Why your solution and delivery is the preferred one.
Tip:

Make your business plan concise and clear for the audience reviewing it.

Show why you care about your product and others should, too.

Read More:

Writing a Business Plan

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Challenge:

Sarah Johnson, PhD is starting a company to produce antiviral peptibodies and described her company and product in the Scenario above (Please review before answering this challenge). She wants to understand how close she is to interesting investors in her company. Please help her by evaluating whether her planned business, ViroPep, appears to meet the following investment criteria.

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This business is a sound idea.
The business has a proof of concept prototype.
The quality of the management team is good. 
The company has enough strategic relationships to succeed.
The product is already being produced.
Sales to date indicate success is likely.
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Topic Home Expand All
Explore Motives & Skills Needed
3 Articles
Motivations for Starting a Business
Life Impact of Starting a Business
Skills Needed to Start a Business
Develop a Business Plan
12 Articles
1: Executive Summary, Company & Product Descriptions
2: Business and Management Structure
Part I: Business and Management Structure
Part II: Founding Team
3: Seek Professional Assistance
4: Market Research
5: Financial Analysis and Projections
6: SBIR/STTR and Other Seed Funding
Part I: SBIR/STTR & Other Seed Funding Overview and Getting Started
Part II: Writing and Submitting SBIR/STTR Grant Proposals
7: Venture Capital and Other Funding
8: Product Development and Marketing Plan
Set Up Your Business
4 Articles
Establish the Business
Registrations Required for Government Funding
Biotech/Biomed Industry Unique Requirements
Pitching Your Business
Return to Stages of Starting a Biotech Business

This project is funded by National Institute of General Medical Sciences (Grants 1R43 GM131458-01 & 2R GM131458-02)


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