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Home › Topics › Starting a Life Science Business › Business Planning & Commercialization

Design, Prototype, Testing, Manufacturing

Topics Starting a Life Science Business Business Planning & Commercialization Design, Prototype, Testing, Manufacturing

Definition: Minimum Viable Product (MVP)

A minimum viable product (MVP) demonstrates to investors that an early version of the product is viable. The MVP is also used to attract early customers.


Potential Outsourcing for Your Research or Business

Prototype Design, Testing, and Manufacturing Companies

Outsourcing prototype development can jump-start product development and allow you to avoid investing in costly equipment, but it can be expensive. Some companies specialize in translating designs or even ideas into prototypes, initial testing, and/or manufacturing.

Resource on Prototyping Services

Pharmaceutical and Biotech Prototyping Services – Lists companies providing prototyping, testing, and manufacturing services.

Licensing a Technology

Using items and ideas of another business for part of your product frees up time to spend on developing the unique part of the product. If a patented technology is involved, you may have to license the part you obtained from another business. Licensing a technology can be expensive. However, the time and costs saved may be worth it.

(Manbachi et al., 2018)

Resource on Licensing

Pharma Biotech Licensing Trends to Watch for in 2021 – By L. Ellis for In Vivo. 2021.

Contract Research Organizations (CROs)

Companies hire contract research organizations (CROs) to conduct clinical trials and other research support services. For example, research, medical, or pharmaceutical companies may outsource manufacturing and research to CROs.

Example CROs

  • Top 10 Contract Research Organizations to Watch in 2019 – By Proclinical.
  • The Triangle CRO industry: Where women rule – By David Ranii. News Observer. January 17, 2015. An article describing the prominent role women play in the North Carolina Research Triangle CRO industry.

Resource on CROs

What is a Contract Research Organization? – Article presented by ProMedica International.

Federal Laboratory Consortium (FLC) for Technology Transfer

The Federal Laboratory Consortium (FLC) is a national network of “over 300 federal laboratories, agencies, and research centers that fosters commercialization best practice strategies and opportunities for technology transfer to the marketplace, reaching commercialization goals, and achieving the impact of innovative technologies” (FLC, 2022). The FLC provides resources, education, training, tools, facilities, and services that your business needs in order to develop the product and facilitate finding a partner. The FLC has six regional offices and many more laboratories.

Reference: FLC. Mission and Vision. 2022. https://federallabs.org/about/who-we-are/mission-vision.

Resource on the Federal Laboratory Consortium

Federal Laboratory Consortium (FLC) – The FLC’s website describes educational programs, publications, events, meetings, regional programs, and more.

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Topic Home Expand All
Intro to Starting a Life Science Business
3 Articles
Overview of Starting a Life Sciences Business
Evaluate Your Business Skills
Finding a Sound Business Idea
Early Market Research
3 Articles
Case Example: Leslie Bowen, Early Market Research
Market Research Before Starting a Business
Tips for Biomedical Market Research
Business Planning & Commercialization
9 Articles
Writing a Business Plan
Develop a Reimbursement Strategy
Technical and Business Assistance and Other Commercialization Support
Case Example: Commercialization Advice
Other Post-SBIR Commercialization Support
Planning Your Research Environment
Technology Readiness Level
Design, Prototype, Testing, Manufacturing
Tips on Planning from Successful Biotech Entrepreneurs
Financial Skills, Planning, & Investors
6 Articles
Financial Planning
Tackling Financial Risk
Equity and Shares
Sources of Capital for Small Businesses
Case Example: Learning Investor Basics
Entrepreneur Financial Skills and Resources
Registering Your Business
3 Articles
Business Name, Tax IDs, and Insurance
Registrations for Your Business
Industry-Specific Requirements, Licenses, and Permits
Your Business Governance
4 Articles
Select a Business Structure
Cofounders, Partners, and Founding Team
Board of Directors
Roles You Can Play in the Business
Return to Starting a Life Science Business
End Resources

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


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