Name: Sasha Thomas, PhD
Description: 31-year-old Sasha Thomas is a molecular geneticist who founded a company with several partners she met during a post-doc.
Scenario, Part 1: Dr. Thomas is being interviewed by Entrepreneurs in Biotech, a fictional publication as part of an article on women business founders in the biotechnology industry.
[Note: This is a fictional case based on a synthesis of many real-life stories.]
Entrepreneurs in Biotech (EIBT): Hello. Sasha. Thank you for agreeing to do an interview to be part of our article on women founders of biotech companies. First, I am wondering how your current work compares to working in academia.
Sasha Thomas (ST): There’s more to juggle in a biotech start-up, but that’s what makes it so exciting! Things move faster in a start-up than in academia, because they have to. The saying “time is money” applies.
EIBT: What do you have to juggle?
ST: In addition to focusing on science and innovation, which are similar to academia, you have to keep the business afloat and keep the customers and the investors happy.
EIBT: Do you feel your experience as a biotechnology entrepreneur has been different as a woman than it would be for a man?
ST: Honestly, yes, sometimes in a good way but other times in a harmful way, which can be subtle. The good part is that there are many opportunities for women out there, initiatives by different organizations to provide training and guidance specifically for women and under-represented groups.
For example, my university had an Institutional Development Award to enhance science transfer in states with low research funding. It helped fund my training and research during my postdoc. You have to learn about these opportunities and take advantage of them. Some organizations are specifically for women entrepreneurs and women in the life sciences and have much to offer in terms of support and potential networking contacts, such as Women in Bio and the Association for Women in Science. Be sure to check out their local chapters. You will learn so much! That’s how I found out about my state’s center for technology commercialization which led to some matching funds and microgrants to complete market research.
EIBT: And the bad experiences? What have those been?
ST: They have mostly been subtle. But there are times when my ideas are not as accepted. I feel like I get invited for positions in organizations that would boost my stature in the business or science community less often like being invited to serve on a panel. It started in graduate school, I was not included in informal networking situations that did include male students. Because it is subtle, I never know the reason, if it is racism, being a woman, or what. I worried that if I complained, they would tell me it was because I really am not as good a scientist or my product is not good.
EIBT: How do you cope?
ST: I am proactive in advancing my career. For example, in the case of serving on a panel in a professional organization, I let the person appointing the panel know that I am interested, and I tell them what I can contribute. Unfortunately, I have to try to be better than anyone else, which can be draining.
I started my own business thinking I would get away from bias, but unfortunately, I still run into subtle bias in the institutions and companies with which I do business.
EIBT: That’s a shame. Do you find that more investors are going out of their way to fund women-owned companies recently?
ST: The investors want high value and return on investment. My impression is that most of them are not going to invest in your company just because you are a woman, and some are less likely to invest because of it. But compared to what I have heard that it was like 20 or 30 years ago, investors are more likely to give women a chance today. Most of the time, I feel like being a woman or African American does not affect how a customer or investor responds to me. But I know that sometimes it’s happening and they may be hiding it. And I have encountered some not subtle bias. Some people seem to interpret my confidence as being impertinent and I wonder if they would interpret similar confidence from a white male the same way. Sadly, I still hear stories of bias and barriers from other women and under-represented minorities. But, I think we are in a time of change. I hope it keeps going in a good direction.
EIBT: Do you have advice for women life scientists considering going into entrepreneurship?
ST: I recommend trying it. Don’t let fear and anxiety get in the way. You don’t have to know everything about running a business to get started. You just have to know some key information, like about protecting your intellectual property, and you need to talk with the funding organizations, like the NIH, early. Talk to a scientist who has started a business before you. After I understood the basics, I just kept asking questions of the many potential helpers available, and I still do. There is a lot of support if you reach out for it. The NIH, for example. I felt like they really wanted us to succeed. But I had to listen to their advice and do the hard work.
EIBT: Do you recommend having partners in a business venture?
ST: For me, it helped to start my business being a part of a team. A lot of women I know like working with other women, and that can be hard to find the higher up you go in this industry. Since I am one of the ones in charge, I make sure that we have a diverse team, and people we enjoy working with, each with complementary strengths. Working with them, and knowing the kind of impact our product is going to have makes the hard work involved worth it.
View Part 2 of the interview.
NIGMS Institutional Development Award (IDeA) Networks of Biomedical Research Excellence – Supports research, faculty development, research training, and research infrastructure improvements in states where levels of NIH research funding have historically been low.