Why researchers and scientists should study business | From Japan to Belgium: A Biotech Field Report Series

“The difference between the contrails of Tokyo in my memory and those of Brussels in front of me seemed to symbolise the uniformity of Japan and the diversity of Europe. The 16 participants in this programme are diverse in age, mainly around 30 years old, with a difference of more than 10 years, a gender ratio of 1:1, and nationalities from 8 countries, primarily from the EU. The participants also have various specialties, such as scientists, engineers, finance, and consulting.

According to Academic Director Philip, this diversity is to facilitate innovation. When people with different backgrounds come together, it is easier to come up with new and innovative ideas and to find answers to questions that arise in the classroom. We were expected to exchange opinions without being bound by preconceptions, respect and trust each other, build a good team, and learn together. By the end of Module 1, we had come to know each other's backgrounds, personalities, and preferences.

Module 1 is called Basic Knowledge of the Start and serves as the foundation of the programme. From the first day of class, we were given a series of unique presentations by several CEOs from various backgrounds, including scientists from academia, doctors, and pharmaceutical companies, who have launched medtech and/or biotech companies. Although their motivation differed, I was impressed that everyone was inspired by their own experiences and interactions with patients and continued to take on new challenges.

If you understand the science, will you be able to develop a product successfully?

In the biotech and medtech industries, it was discussed that as many as 80% of startup CEOs are people who should not be CEOs. Jean Claude Deschamps, a venture capitalist who has helped shape the EU ecosystem, mentioned that half of the CEOs of the start-ups he backed as a venture capitalist later had to be replaced. This is because, as startups grow, they face challenges that science alone cannot solve.

MedTech and biotech must be based on solid science, combined with business knowledge and experience, and developed with flexibility and a broad perspective. Above all, it is important to focus on areas of unmet need and to put the patient first. In the classroom, classmates with science or business backgrounds are laughing and joking with each other. I believe that only when different perspectives intersect in an ideal way can various projects move forward. The blue sky seen from the window was also crisscrossed with white contrails that day.”