1995 is the beginning of an era of biotechnology in the UK and should be marked by an increase in the number of products in late-stage clinical studies, said Chris Evans, chief scientific adviser of Chiroscience, at a meeting on the skills needed for entrepreneurial success held in London.
Addressing the reasons for becoming an entrepreneur, Dr Evans said that the most important drives are the need for freedom and enjoyment in whatever area one is working. This is especially true of research, he noted, where the decisions relating to a product's development in many large companies are not under the control of the person who invented it. Indeed, many scientists can see an invention for which they foresee a great potential taken out of their hands and even shelved through company politicking.
However, he pointed out, money is a big factor in any project development. Most researchers are not familiar with the problems that can occur in trying to obtain funding and manage resources effectively to provide a stable cash flow. Even less, he said, appear to realize the profit for what may be a truly innovative product. The solution to this is more competent managers, said Dr Evans, emphasizing the term competent, and adding: "many biotechnology and large firms are plagued by inferior management which can ruin a perfectly good venture."
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