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Home › Topics › Starting a Life Science Business › Making a Business Plan

Design, Prototype, Testing, Manufacturing

Topics Starting a Life Science Business Making a Business Plan Design, Prototype, Testing, Manufacturing

Definition: Minimum Viable Product (MVP)

A minimum viable product is an early version of the product that entrepreneurs can use to demonstrate the viability of the concept to investors and to attract early adopter customers.


Potential Outsourcing for Your Research or Business

Prototype Design, Testing, and Manufacturing Companies

Some companies specialize in developing prototypes according to specifications. You could use one to jumpstart your product development. Outsourcing prototype development can be expensive, but may be a good option if you don’t want to invest your own time or commit to investing in costly equipment.

Companies that specialize in translating designs or even ideas into prototypes, initial testing, and/or manufacturing.

Resource on Prototyping Services

Pharmaceutical/Biotech Prototyping Services – list of many companies providing prototyping, testing, and manufacturing services.

Licensing a Technology

You often can use the products and ideas of another business for part of your product, which frees you up to spend your time on developing the unique part. If a patented technology is involved, you may have to license it. Licensing a technology can be expensive, however, the time and costs saved may be worth it.

(Manbachi et al., 2018)

Pharma Biotech Licensing Trends to Watch for in 2021

By L Ellis for In Vivo. 2021.

Contract Research Organization (CRO)

Contract Research Organizations (CROs) are hired by other companies to conduct clinical trials and other research support services. For example, CROs may used by research, medical, or pharmaceutical companies to outsource manufacturing and research.

Example CROs:

  • Top 10 Contract Research Organizations to Watch in 2019 A descriptions of 10 CROs by Proclinical
  • The Triangle CRO industry: Where women rule. By David Ranii. News Observer, January 17, 2015. An article describing a prominent role for women in the NC Research Triangle area CRO industry.

Resource on CROs

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

Federal Laboratory Consortium (FLC) for Technology Transfer

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 provides resources, education and training, tools, facilities, and services that your business needs in order to develop the product and facilitate finding a partner. There are 6 regional offices and many more laboratories.

Resource on Federal Laboratory Consortium

Federal Laboratory Consortium (FLC)

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Intro to Starting a Life Science Business
2 Articles
Steps to Starting a Life Sciences Business
Evaluate Your Business Skills
Finding a Business Idea
2 Articles
Tips from Biotech Entrepreneurs on Finding a Business Idea
Five Basics of a Strong Biotech Business Concept
Early Market Research
3 Articles
Case Example: Leslie Bowen, Early Market Research
Topics to Research Before Starting a Business
Tips for Biomedical Market Research
Making a Business Plan
7 Articles
Writing a Business Plan
Tips on Succeeding from Biotech Entrepreneurs
Develop a Reimbursement Strategy
Technical and Business Assistance and Commercialization Support
Case Example: Commercialization Advice
Technology Readiness Level
Design, Prototype, Testing, Manufacturing
Financial Skills, Planning, & Funding
7 Articles
Tackling Financial Risk
Entrepreneur Financial Skills and Resources
Case Example: Learning Investors Basics
Financial Planning
Sources of Capital for Small Businesses
Equity and Shares
NIH Post SBIR Commercialization Supports
Your Business Governance
4 Articles
Select a Business Structure
Partners and CoFounders
Board of Directors
Roles You Can Play in the Business
Registering Your Business
4 Articles
Your Business Name
Registrations and Tax IDs
Licenses, Permits, Other Requirements
Planning Your Research Environment
Return to Starting a Life Science Business

This project is funded by National Institute of General Medical Sciences (Grant #1 R43 GM131458-01)


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