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how to start a consultancy?

 
#1 how to start a consultancy?
19/07/2002 00:00

jonathan dando

Hi, I'm a doctor (PhD) in biological sciences and thinking of starting a small guru biotech consulting company, initially based in europe, but potentially to extend over the globe.

The basic concept/business model runs as follows:

With the presence of more than 1400 biotech companies in the US and more than 2000 in Europe, with apparent public plans to try and increase this number it seems that there is a niche for a consulting company specialising in this area. With the large pharmaceutical incumbents running out of ideas for new products the market seems wide open for biotechs with good management and good ideas. In fact the biggest hurdle facing most start-ups when faced with the VC is the absence of a good management support team.

If a company is created which has 2 PhD's in science, 2 MBA's and 1 admin assistant/system support, who leverage all the skills, hire an office in Paris and target the European biotechs first (with a longer term perspective for creating offices in Japan and the US), in strategy, M+A, partnering, using VC companies, business incubators and companies just making their IPO's, as the customers, with maybe 10 long term contractual companies at 120,000 euros per year(for the IPO’s), plus single contracts for other smaller or start-up biotechs (such as temporary, monthly management visits), the market could be taken by storm. The key would be to have business and operational skills supplied by the MBA’s complimenting the scientific insight offered by the doctors. As far as I can determine there do not appear to many consultancies offering these services, and the ones that do exist focus on their native country, the key here is to go global.

My question, therefore, is how does one go about raising the capital for such a venture. I figure to start-up and exist for three years (salaries, office rental, admin, advertising and marketing) is probably going to cost about 2 million euros.

Where do I start?

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#2 Re: how to start a consultancy?
19/07/2002 00:00

Karsten

Jonathan, I think there is a chance for your vision but - discuss it! Paris is not the best location for a biotec consulting company - why not Germany - especially Berlin with his Biotec Parc! There are a lot of chances to get subsidies for start ups from government.

If you are interested, contact me via Email info@parchmann-international.de or see www.cy-ber.net.

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