Science and Business Collide: A Recap of the Venture Capital and Entrepreneurship Mini-Networking Night 2
Each year, LSCDS hosts a series of Mini-Networking Nights (MNNs) that allow trainees to have intimate conversations and form networks with professionals in industry. Following the success of the first MNN on Pharma and R&D, LSCDS hosted a second MNN on December 6, 2022. This virtual event, which focused on venture capital and entrepreneurship, quickly hit capacity as many trainees jumped at the chance to mingle with a panel of highly accomplished business leaders in the healthcare space.
Panelists were eager to share their knowledge, contributing to lively discussions with trainees on topics ranging from career motivations, academia-to-industry transitions, and day-to-day experiences in venture capital and startup environments. Included on the virtual panel were:
• Robin G. Gao, an Associate from Sixty Degree Capital
• Dr. Sri Teja Mullapudi, Science Lead from Noetic Fund
• Dr. Ali Tehrani, Venture Partner from Amplitude Ventures
• Dr. Maria Soloveychik, Co-Founder and CEO of SyntheX Inc.
Venture capitalists and entrepreneurs in the healthcare space share the common goal of growing science-based companies to meet the medical needs of the public. While entrepreneurs are involved in developing science and technology to establish these companies, venture capitalists are the investors who fund promising innovations!
Venture capitalists engage with entrepreneurs at different stages of company development; their funding and connections help entrepreneurs get ideas off the ground to develop viable businesses with transformative impact in the healthcare space. For Mr. Robin G. Gao, the best part of being in venture capital is, “the power to support an idea you have high conviction in.”
This sentiment was also described by many of the panelists as a motivator for their transition from academia to industry. Drs. Soloveychik and Mullapudi reminisced on how their mutual love for science and a desire to do something with a greater clinical/translational impact led to their current careers. Dr. Soloveychik described how the seeds of innovation sprouted from conversations with a labmate across the hall. Together, Dr. Soloveychik and her labmate wondered “How do we improve early stage drug discovery?” leading to their founding of SyntheX Inc., a synthetic biology-based drug discovery company.
The journey for Dr. Mullapudi began with founding a startup during his academic degree; this early career experience naturally transitioned to work in venture capital, where he nurtured several more startups. In both the entrepreneurial and venture capital worlds, the never-ending need to improve patient outcomes is a strong motivator that drives innovation.
But it takes more than just a passion for science to succeed in the world of venture capital, and graduate school offers fertile ground to develop highly relevant, translatable skills. Mr. Gao and Dr. Tehrani offered great advice on how developing strong analytical skills in academia are essential to succeed in venture capital. Dr. Tehrani noted “The most important skill [ he learned in ] graduate school was how to really break down a paper [because it taught him] how to inform the next question and chase the next answer”. This skill is essential, as Mr. Gao mentioned how 75% of his daily work involves research and data analysis - a compelling argument to read your backlog of research papers!!
For those interested in careers where science and business meet, the second MNN provided an exciting glimpse into the interconnected worlds of venture capital and entrepreneurship. Moreover, this event gave trainees unparalleled opportunities to develop connections with enthusiastic panelists at the leading edge of these industries.
Learn about more LSCDS events on our calendar page and follow us on our social media – LinkedIn, Instagram, and Twitter! Be sure to connect with professionals from other pharma and biotech industries at MNNs held in the Winter 2023 term!
