Lab to Startup

Naresh Sunkara PhD

Hundreds of thousands of researchers around the world are working to improve life and address imminent threats to humanity. Often, the research ends up in the “Scientific valley of death” in the form of publications and patents that never see the light of the day. Welcome to “Lab to Startup” a podcast aimed at showcasing the effort needed to translate lab research to startups. The show has two main goals:  1. Sharing the stories of those scientists and engineers who have successfully founded startups based on the research at university and national labs.  2. Highlighting the resources and tools needed to help those aspiring to launch startups in the deeptech space. We also want this show to be a way to communicate those technology development stories to the general public (taxpayers funding the research) in the hope that they will continue to support such research and startups. About the host Naresh Sunkara, Ph.D. is a chemical biologist, entrepreneur and the founder and Executive Director of the Berkeley Postdoc Entrepreneurship Program at the University of California, Berkeley. He has been running this program for the past ten years that has helped graduate students and postdocs at UC Berkeley and Lawrence Berkeley National Laboratory, and at several other universities in the US. He was previously a postdoc at UC Berkeley developing lipid nanoparticles for delivery of mRNA based drugs targeting viruses and cancers. read less
BusinessBusiness
TechnologyTechnology
EntrepreneurshipEntrepreneurship

Episodes

From Pitches to Stories: Transforming Complex Ideas into Engaging Narratives
Sep 10 2024
From Pitches to Stories: Transforming Complex Ideas into Engaging Narratives
Zack Shildhorn is an investing Partner at venture firm Lux Capital. He played multiple key roles that helped the firm scale from less than $100M to more than $4B in assets under management. After witnessing thousands of pitches, he saw that even the most disruptive startups often struggled to develop effective narratives. Having worked closely with leading technology companies as an investor and Board member, he brings a unique ability to connect with key stakeholders and distill complex ideas into engaging and relatable presentations. In order to help founders beyond Lux, He launched a firm called Series Z, to help a select group of tech companies and funds bring their vision to life. Zack also recently partnered with Khosla ventures to help founders there as well.  Zack kindly agreed to share some of the lessons from his experience teaching the art of storytelling to founders and VCs. I think you will benefit tremendously from this episode.  Show Notes: Series Z: https://www.series-z.co/ Zack Schildhorn: https://x.com/zacktrak Most founders are in a challenged position Repetition, iteration, feedback Founders have the disadvantage of not knowing an investor’s mindset Selling vision: Why should investors care? Framing your pitch: Ways to capture investor’s attention How to appeal to the emotions of an investor? Fear and greed Starting a presentation with words and not slides Presenting technical idea: How not to inundate listeners with too much data Reframing problems: Addressing known apprehensions How to not get offended by a question or being defensive? Media links: Power of Narrative for Entrepreneurs: https://www.youtube.com/watch?v=-llii7frwco Framing your pitch: https://www.youtube.com/watch?v=U4V89rywlR0 Pitching investors: https://www.youtube.com/watch?v=RYkOoRJGuvk
Turning great science into impactful medicine: Lessons from Corey Goodman, Pioneer in Science and Venture Capital
Jul 16 2024
Turning great science into impactful medicine: Lessons from Corey Goodman, Pioneer in Science and Venture Capital
Corey Goodman, Ph.D., is the managing partner of venBio, a venture capital firm he cofounded in 2011. venBio already has 7 FDA approved drugs on the market, saving and improving lives. Corey spent 25 years as Professor of Biology at Stanford University and Evan Rauch Chair of Neurobiology at U.C. Berkeley, where he was a HHMI Investigator, Head of the Neurobiology Division, and co-founder and Director of the Wills Neuroscience Institute. Corey co-founded seven biotechnology companies, and led one of them (Renovis) as President and CEO from a private to public company until its acquisition by Evotec. Two of the companies he co-founded have been acquired and three have done IPOs to date.  He then moved to Pfizer, where he was President of the Biotherapeutics and Bioinnovation Center and a member of the executive leadership team. We talk about transformation of UC Berkeley as a startup powerhouse;  his entrepreneurial journey starting with the founding of Exelixis while being a faculty at UC Berkeley; role played by mentors and co-founders; lessons learned from founding startups that founders today could benefit from; changing careers at various stages of his life as he turned 50 and 60 (he recently turned 73); lessons from big pharma; experiences and lessons from partnerships and acquisitions by big pharma; and his experiences investing. Show Notes: Corey Goodman, Ph.D. Corey Goodman’s autobiography: https://www.sfn.org/-/media/SfN/Documents/NEW-SfN/About/History-of-Neuroscience/20220914_HON_volume12_goodman.pdf Turn around story of UC Berkeley entrepreneurship: remarkable 10 years People and leadership matter Carol Christ Exelixis: Corey’s first startup, co-founded with Gerry Rubin. George Scangos joined the company as CEO in 1996;  Learning from genetic modeling organisms Find a big brother/sister who can help you: Role played by Stelios Papadopoulos and Ed Penhoet Donald Kennedy: Corey’s mentor Taking risks at various stages of life: Turning 50, 60, and now 73 Life as an executive at Pfizer and lessons learned in that space Big pharma companies are unbelievably inefficient in early stage drug discovery James Allison: Immune checkpoint inhibitors Importance of academia and startup ecosystem in drug discovery Lessons from big pharma acquiring biotechs: What, when, how and what not to do Lessons learned from biotech partnering with big pharma: Don’t partner on everything- keep some to yourself Operator VCs: Investors/board members who went through building companies are more valuable than those who come from consulting backgrounds Building teams Transition to Pfizer and out: “Come change the world” Launching VenBio: Everybody’s voice matters Investment thesis
Pushing Boundaries: Abhishek Tripathi’s Experience with NASA, SpaceX, UC Berkeley and Startups
Jun 25 2024
Pushing Boundaries: Abhishek Tripathi’s Experience with NASA, SpaceX, UC Berkeley and Startups
Abhishek Tripathi, is the Director of Mission operations of the Space Sciences Laboratory at the University of California, Berkeley. Abhi is also the Chair of the Air and Space track startups at Skydeck, which is UC Berkeley's startup accelerator program. For over two decades, Abhi has been at the forefront of human and robotic space exploration. At SpaceX, he spearheaded the certification of both the cargo and crew Dragon programs, a pivotal achievement in commercial spaceflight. His expertise was further showcased as Dragon Mission Director, where he orchestrated a dozen critical cargo resupply missions to the International Space Station. Abhi's technical acumen reached new heights when he assumed the role of Dragon Chief Engineer for Flight Reliability on the groundbreaking Crew Demo 1 and Demo 2 missions. Prior to his transformative work at SpaceX, Abhi honed his skills during a decade-long tenure as an Aerospace Systems engineer at NASA, laying the foundation for his remarkable career in space technology.  We talked about the lessons learned from Abhi’s journey at NASA, SpaceX and his work at the University of California, Berkeley, where he continues to lead several space missions. He shared some of the lessons learned from working at a highly demanding job at SpaceX; and also translated his experiences into lessons for startups and life in general. And Yes, he did share some of his experiences working with Elon Musk. Show Notes: Abhishek Tripathi https://www.ssl.berkeley.edu/Setting overarching goals that ties with the vision for a companyBuilding factories to vow consumers and the larger population (new age moats)Journey at NASATry to work at a cutting edge company before launching a startup, (except if you are a deeply involved in a research area during postdoc or similar compelling situation)Picking advisors: Pick tactical advisors instead of strategic onesEnd all instances of gatekeeping (one of the rules set by Musk)Leading the Dragon mission to deliver cargo to ISSRegulations: Working with NASA/government for approvals ‘Bring me a rock exercise”Experiences working on Falcon 9 missionTransition to academia https://www.ssl.berkeley.edu/“Other than the brutal pace of Space X, we have many of the elements of Space X at Space Sciences Laboratory at the University of California, Berkeley.”Space track https://skydeck.berkeley.edu/What startups in the space track should possessTiming, funding, technology readinessSSL LEADERSHIP AND ADMINISTRATIVE CONTACTS https://www.ssl.berkeley.edu/administrative-contacts/ https://x.com/SpaceAbhi
Lessons from Evolution of Innovation and Entrepreneurship Ecosystem at UC Berkeley
Apr 30 2024
Lessons from Evolution of Innovation and Entrepreneurship Ecosystem at UC Berkeley
Richard Lyons, Ph.D., is the Associate Vice Chancellor and Chief Innovation & Entrepreneurship Officer, at the University of California, Berkeley. Rich is an economist and the former dean of the business school. Rich will become the next chancellor of the University of California, Berkeley.  We talk about a wide variety of topics around the Evolution of innovation and entrepreneurship ecosystem at Berkeley. We covered topics like paradigm shifts, cultural transformations, overcoming inertia; global impact and many others.  I hope you get some insights from this story, and walk away with appreciation and potentially actionable steps if you are trying to build startup ecosystems on your campuses. Show Notes: https://vcresearch.berkeley.edu/faculty/rich-lyonsReport on entrepreneurship at UC Berkeley from the Faculty Entrepreneurship Committee: https://vcresearch.berkeley.edu/sites/default/files/2018-08/Entrepreneurship_at_Berkeley.pdf UC Regents taskforce report: From Discovery to Societal Impact: A Roadmap to Unleashing UC Innovation and Entrepreneurship: https://regents.universityofcalifornia.edu/regmeet/may21/g1attach.pdfCultural transformation at UC Berkeley: https://newsroom.haas.berkeley.edu/berkeley-named-top-university-for-number-of-venture-backed-companies-founded/#:~:text=PitchBook%20has%20ranked%20Berkeley%20%231,public%20university%20for%20startup%20founders.Bakar fellows program: https://bakarfellows.berkeley.edu/Cultural transformation to embrace entrepreneurshipMission of academic institutions is impactOvercoming inertia at academic institutionsEcosystem dynamics & talent pipelineStart with “Yes, if” framework to address difficult questionsPilot programs Berkeley RIC  I&E CouncilInclusivity: Dual degree program  Berkeley Changemaker programFailures and hurdlesEthical considerationsParts of the ecosystem that could be replicated and hard to do so by other universities Sutardja Center for Entrepreneurship and Technology (SCET)
Civilization Ventures: Lessons learned from founding, exiting and applying them to support founders as an investor
Apr 9 2024
Civilization Ventures: Lessons learned from founding, exiting and applying them to support founders as an investor
Shahram Seyedin-Noor is the founder and managing partner at Civilization Ventures. Shahram received a JD from Harvard and worked at Wilson Solsinis and Cooley before going into investment banking at firms like Goldman Sachs and Bank of America. He then entered the startup world co-founding several startups. He eventually ended up Angel investing and in 2017, launched Civilization Ventures, focused on supporting cutting-edge innovations in health tech and biology. Shahram has over a dozen exits under his belt, which is a phenomenal achievement. Here are some of his investments: Rewrite (acq. by Intellia), Replace (acq. by Tome), Lemonaid (acq. by 23andme), Singular Bio (acq. by Invitae), Rocket Pharma (listed on Nasdaq), Palamedrix (acq. by SomaLogic), Foresight Diagnostics, BillionToOne, Omada and others. Shahram takes an active role in company building. Prior to founding CV, Shahram was the founding CEO/Chairman of Inspirna, an oncology therapeutics company currently in Phase 2 human trials, and the CFO and VP of Corporate Development at NextBio, a genomics software pioneer acquired by Illumina. Shownotes: https://www.civilizationventures.com/Success has a thousand fathers but failure is an orphanAccountability: Few people blame themselves for failure and give credit for success to othersEvolution of mindset: Don’t let others dictate what you can or supposed to do in lifeEQ is more/equally important than IQTransition from law school to startupsAdvice for recruiting a non-scientific co-founder Rewrite therapeutics acquired by IntelliaInvestment thesis at Civilization Ventures: Drive to do things differentlyLessons learned from exitsContact email: shahram@civilizationventures.com
Humba Ventures: Investing in Deep Tech Startups with Engineering Focus
Feb 27 2024
Humba Ventures: Investing in Deep Tech Startups with Engineering Focus
Leo Polovets is the Co-founder and General Partner at Susa Ventures. Leo focuses on enterprise software and technical products at Susa. About two years ago, He also started Humba Ventures, a fund that invests in deep tech and critical national sectors like energy and defense at Humba.   Leo led Susa's investments in Mashgin, People Data Labs, Scalyr, and Treasury Prime. Having been a software engineer for 10+ years, Leo approaches challenges with an engineering mindset and supports portfolio companies in vetting and hiring technical talent. Prior to Susa, Leo was the second engineering hire at Linkedin, where he worked on the first versions of products like LinkedIn Jobs and LinkedIn Groups. Leo then worked on payment fraud detection algorithms at Google, and was also an early engineer at Factual, where he built data processing software. Leo received a bachelor's degree in Engineering and Applied Science (Computer Science) from Caltech. We talk about lessons that translate from investing in traditional startups; explore lessons learned about market sizing, pricing, team dynamics, managing burn, scaling, valuation and many other topics in the deep tech space.   Shownotes: https://humbaventures.com/Leo’s presentation on “Exploring Startup Ideas” https://docs.google.com/presentation/d/1C-JFkqsY40tidqPD1OZbV3-OXPAyrsPIV5Q_00PkToQ/edit#slide=id.g221d008c440_0_35Thinking about making money for scientific foundersThinking about market attributes for a potential startupIntro to Humba venturesInvesting in deep techFounder-market fit; Time to make moneyInvestment thesisCommunication: between team members, to investors and beyondWorking with startup teams: CommercializationPricing in deep tech: Think of value being createdHow to ask for money for your product?Aloha robot- https://www.youtube.com/watch?v=HaaZ8ss-HP4&t=5sStory tellingManage your burn!Scaling: Calibrating on talent; learning to delegate; firing Bs and B+s on the teamKeeping up with new technologiesThoughts on valuationWhat Leo likes to hear while being pitched to
Berkeley Skydeck- Catalyzing the growth of deep tech startups at the world’s number one ranked public university.
Feb 13 2024
Berkeley Skydeck- Catalyzing the growth of deep tech startups at the world’s number one ranked public university.
Caroline Winnett is the Executive Director of Berkeley Skydeck, a startup accelerator at the University of California, Berkeley. Skydeck started as a mentoring space in 2012 and soon translated into one of the leading startup accelerators in the world. SkyDeck was Formed as a partnership between UC Berkeley’s Haas School of Business, the College of Engineering, and the Office of the Vice Chancellor for Research. While it offers all the benefits of a traditional accelerator, what makes Skydeck special is the vast resources of the world’s number one ranked public university. The robust and vibrant ecosystem includes a deep network of advisors, industry partners, and attracts some of the best investors. I have seen its evolution first hand because of my own association since my postdocs days at UC Berkeley We discuss the evolution of the startup ecosystem at UC Berkeley and then dive into how Skydeck has been supporting deep tech startups, challenges and lessons learned.   Shownotes: Berkeley Skydeck: https://skydeck.berkeley.edu/Startup resources at Berkeley: https://begin.berkeley.edu/Berkeley named top university for number of venture-backed companies Evolution of startup ecosystem at UC Berkeley: Pre & post SkydeckChanging academia-industry relationsSkydeck is just not for UC Berkeley communitySupport for deep tech startups at SkydeckCriteria for picking deep tech startups for accelerationsLessons learned from working with scientific and faculty foundersScalability and market potential of deep tech startupsPartnerships with corporations: realistic expectationsPicking advisorsCommercializing deep tech startupsInvesting in deep tech: Evaluating foundersTips for applying to Berkeley SkydeckApply here: https://skydeck.berkeley.edu/apply/
Medtech Innovator and Biotools Innovator: accelerator for medical device, digital health and diagnostic companies
Jan 16 2024
Medtech Innovator and Biotools Innovator: accelerator for medical device, digital health and diagnostic companies
Paul Grand is the founder and CEO; Ayelet Marom is the Program Director for BioTools Innovator, which focuses specifically on biotools; and Jim West is the Associate Director, BioTools Innovator, who was previously the Co-Founder and CEO of, Clara Biotech, which was founded in 2018 and was acquired by Innovaprep in the summer of 2023. Jim was the first founder to go through the biotools program. In this episode of lab to startup, we first discuss some of the challenges that affect medtech and biotool technology startups, and then go into ways that medtech innovator, an accelerator program is helping founders in this space, especially around lessons learned and how the program has evolved into one of the best accelerators in this space. https://medtechinnovator.org/about-us/Founding story of Medtech InnovatorThings medtech startups struggle with: Articulating value proposition; understanding reimbursement; having the wrong CEO; staying in stealth mode; choosing the wrong indicationMedtech innovator “Value program”Value coaches from established companies like J&JHow startups get accepted to the programNo equity, no fees and no strings attached for being a part of the programBringing the right investors to the table to support foundersBiotools innovator program: https://biotoolsinnovator.org/Challenges in the biotools spaceHow investors are different in this spacePay for Service as a modelStory of Jim West, Founder and CEO of Clara biotech, that went through the programAdvice on slide decksInfo session videos: https://www.youtube.com/@Medtechinnovatorchannel
Metcela - Treating chronic organ diseases using a novel fibroblast-based technology
Jan 2 2024
Metcela - Treating chronic organ diseases using a novel fibroblast-based technology
Kenichi Nogami is the co-founder and CEO of Metcela, a clinical-stage biotechnology startup pioneering the research and development of fibroblast and stem cell-based therapy for chronic heart diseases that currently have limited therapeutic options. We talk about the current treatments for heart failure and how the fibroblast technology could help this space. We explore the founding story; setting smaller milestones and fundraising to meet those goals; the role of recruiting firms in hiring in japan; building a flat structure at the startup, as opposed to a hierarchical system that Japan is generally known for; and how Ken’s investment banking experience helped with acquisition of another biotech startup; and many other stories. Shownotes https://www.metcela.com/en/Fibroblast technology for treating Heart failureCurrent treatments and potential of regenerative capabilitiesFounding story: Investment banker meets a PhD student and launch a startupNedo, Japan: Technology-Based Startup Support Program https://www.nedo.go.jp/english/activities/activities_ZZJP_100091.html IP: University waives its right to file a patent and the startup files the patentCo-founder chemistryBusiness model evolutionImmune response challenges developing cell therapy for heart diseasesFundraising stories: Raising money from Japanese investors vs those outside JapanRaising from university derived VCsCell manufacturing challengesAcquiring a startup while being a startupEvolution as a CEOTeam and hiring process: Supply drove the hiring more than demand in many casesBuilding cultureHierarchy vs flat structure: decision making processChallenges building a biotech startup in Japan- talent, infrastructure; and need to expand globally
Lessons learned from a scientist entrepreneur turned investor
Nov 28 2023
Lessons learned from a scientist entrepreneur turned investor
Caleb Bell III, Ph.D., is a venture partner at Corundum Systems Biology and also the President of Corundum convergence institute. We talk about the founding story of Bell biosystems; how they were able to work at various labs around the country with very little money; building teams, culture; raising money, interacting with investors, leadership transitions; and also how the company filed for bankruptcy, although after he left the startup;. Kalub agreed to dip into his experiences both as a founder and investor, and share some of the lessons learned around all these topics, which I believe will be very helpful for aspiring or current founders out there. Shownotes: https://www.linkedin.com/in/caleb3/Early life as an entrepreneur and grad school trainingThoughts on working with law firms: corporate vs IP attorneysInspiration for launching Bell Biosystems (hint: Listening to NPR science Friday)Labs around the country helped perform the initial proof of concept experimentsMarket hypothesisConvincing the right kind of people to work with you: challenges and lessons learnedAdvice on recruiting and growing teamsCulture: Two types of sinsBecoming a manager from a founderCommunicating with investors: Being a good steward of moneyMagnetic cellsThoughts on charging early customers;price discoverySophisticated vs unsophisticated investors: Do your research!Leadership transitionsTransitioning to investing: PE, VCLessons learned from time at the PE firmCorundum systems biologyhttps://www.csb.co.jp/
NAMUH - Attempt at closing the gap between infant formula and human breast milk
Oct 24 2023
NAMUH - Attempt at closing the gap between infant formula and human breast milk
Chaeyoung Shin was the Co-founder and CEO of NAMUH, a startup focused on developing yeast fermentation technologies to produce human milk oligosaccharides (HMOs). HMOs are crucial, fiber-equivalent macronutrients that are currently lacking in most formulas. Integrating them in sufficient amounts could significantly close the nutritional disparity between human milk and formula. We talk about the story behind the origin of NAMUH; transformation of Chaeyoung from a freshly minted Ph.D. to a CEO; lessons learned in that process; fundraising efforts; lessons learned from building the team; experimenting with business models; partnerships developed; realities of the markets and the forces driving the adoption (or not); and the unfortunate shutting down of the startup Shownotes: -  https://wearenamuh.squarespace.com -  NAMUH is HUMAN read in reverse -  Developing yeast fermentation technologies to produce human milk oligosaccharides (HMOs) -  HMOs help build the gut microbiome of babies and basically set them up for life -  Babies are born with pristine gut, without a microbiome -  Applied for a job and ended up becoming a co-founder -  Stigma behind scientists becoming CEOs -  Team building was hard -  Hiring decisions based on fear and lessons learned -  Support system -  Bringing on a business leader on to the team -  Startup incubator journey -  Being an immigrant+scientist+female founder -  Lessons learned from working with investors -  Getting advice: signal vs noise -  Experimentation with business models -  Working with infant formula companies -  Regulations: Maybe the bar is too low -  Role of pricing -  Mistakes that other founders could learn from
NASA fueling innovation through SBIR/STTR, Awards & Prizes
Aug 1 2023
NASA fueling innovation through SBIR/STTR, Awards & Prizes
Jenn Gustetic is the Director of Early Stage Innovations and Partnerships at NASA. In this episode of Lab to startup, we will learn about various funding mechanisms that NASA provides to support innovation, primarily to support NASA space missions. We talk about the funding process through contracts; differences between grants and contracts; NASA’s involvement once they fund to support researchers and startups; funding dual use technologies; surprising speed of their funding process; partnership opportunities they offer; procurement of technologies by NASA and end with learning about how one can license technologies from NASA.  Jenn shared so many stories like that of the landing of the Curiosity Rover on Mars, and other technologies they funded. Shownotes: - Jenn Gustetic - NASA SBIR/STTR - Who we fund - Process of funding - Awards given as contracts, because NASA is one of the customers - Grants vs contracts - Heavily involved with the grantee - Strong touch points with NASA - Process of granting monies and funding levels - NASA Innovative Advanced Concepts (NIAC) Program - NASA Curiosity Rover landing -  Mars helicopter - NASA’s Ingenuity Mars Helicopter Successfully Completes First Flight - Dual use technologies: 80 problem statements for small businesses; 3 months to decision: https://sbir.nasa.gov/ignite - Success stories - Reviewers- their composition and assessing business proposals - Partnerships: Resources beyond money - Facility use agreement; Flight opportunities program - Procurement of technologies by NASA post funding - Licensing NASA technologies - NASA I-Corps - Resource from NASA: Early-Stage Innovation and Partnerships (ESIP): ESIP 101 and Program Cadence
Independent directors for startups
Jul 4 2023
Independent directors for startups
Ryan Caldbeck, is the COO of Dune, a powerful analytics platform for blockchain research. It can be used to query, extract, and visualize vast amounts of data on the Ethereum blockchain. Ryan was previously the founder, and CEO of CircleUp, a technology platform focused on finding and evaluating private companies. He is also an angel investor in several high-growth technology companies. In this episode of lab to startup, we talk about the role of independent directors at startups; how to find them and work with them; how they can mediate between the other board directors like investors and the CEO; when and how long to bring them on for. We do a deep dive into the topic of building trust, not only with the IDs, but also other members of the startup like employees, co-founders, board of directors and others. Shownotes: - https://ryancaldbeck.co - Tweet storm about independent directors:  https://twitter.com/ryan_caldbeck/status/1651441866213318656 - Who is an independent director (ID) - How to pick them - What and where do you look for them? - Trust = (Reliability x Credibility x Authenticity) / Self-Interest. - Building trust - Writing the job description for an ID - How IDs can mediate between investors and the CEO - Receiving and offering feedback - What point of the startup journey should we bring on an ID? How many? - Etiquette to building a relation with independent directors - IDs and board members interacting with upper management
Feeding our astronauts - Reflections of a NASA food scientist
Jun 20 2023
Feeding our astronauts - Reflections of a NASA food scientist
Vickie Kloeris is a food scientist with an out of this world career. She worked at NASA in space food systems for 34 years. She served as the NASA manager of the Shuttle first and then the International Space Station food systems. She and her teams worked through the complex challenges of creating tasty, nutritious, long-lasting, easy-to-prepare meals that support the dietary and psychological needs of astronauts living on the space station. Vickie has worked with 100s of astronauts to plan their favorite meals and holiday specialty meals for space travel. We talk about the history of feeding our astronauts; working with the US military; evolution of food systems at NASA to feed our astronauts; depending on the Russian space agency in the initial days and also working with other space agencies. Vickie shared the challenges for the future manned mission to Mars; and how food science and technology has been at the core of so many food preparation and packaging technologies we take for granted. We also talk about how we might be able to use these technologies to address hunger and reduce food wastage. Shownotes: - https://vickiekloeris.com - Only 16 of the 105 space flights had flown by the time Vickie camke to work for NASA - Food sessions for shuttle crew members: 100% personal menus - Commercial off the shelf items (COTS) - MRE: Meals ready to eat made by army contractors (high salt and fat content) bad for astronauts in microgravity - Changes for the space station Freedom - Challenges with refrigeration: Freezers for food or science - Moving away from canned food - Academia, industry and US military came up with a retort pouch - "It's not gourmet food but pretty good" - Commercially sterile food - Testing the food for the bad bacteria like E.Coli, Salmonella, etc. - Downside of freeze dried food - Challenges for the mission to Mars - Standardized food menu - Challenges packing beverages - Taking tortillas to space: challenges with bread -  NATICK -  Reflections on collaboration with Mir space station - No insights into Chinese systems - Using this technology to feed the poor and prevent food wastage - A lot of people don't even know what food scientists do - Vickie Kloeris's book: Space Bites: Reflections of a NASA food scientist https://ballastbooks.com/purchase/space-bites/
PCDworks: Hardtech Basecamp Incubator for building hardware products
Apr 18 2023
PCDworks: Hardtech Basecamp Incubator for building hardware products
Donna Rainone and Mike Rainone are the founders of PCDworks. PCDworks is a technology development company that helped develop hardware for over 50 big companies in the oil and gas, transportation, healthcare and several other industries; and now helping startups with a new incubator model. We first talk about lessons learned from building innovative hardware products for big companies; how they use principles of epistemology while developing new products; how they borrow lessons from their training in psychology, architecture and engineering in this process; challenges with innovation at big companies; and then talk about their transition to helping startups with all this experience, where we talk about their ideation sessions; how they work with founders; their observations on common mistakes that founders make in the hardware space; infrastructure they provide and related topics. Shownotes: - https://www.pcdworks.com - Work with big companies - Tracking down the best around the world - Using psychology while working with people you don't know - Epistemology: Everything in product development process is a hypothesis - Ideation sessions - Oil companies learning from human biology: Pumps and pipes conference - Decomposing problems - Working with startups - Common mistakes and dipping into experiences to build better products - How could startups work with PCDworks -  "Letter of intent" is worth the toilet paper that it is written on - Infrastructure at PCDworks - Intellectual property agreements - What would it cost to work with PCD? - Mistakes to avoid - Contact: https://www.pcdworks.com/contact
VeriSIM Life: Using AI to build translational indices to push better drug moieties into clinicals
Apr 4 2023
VeriSIM Life: Using AI to build translational indices to push better drug moieties into clinicals
Jo Varshney, Ph.D., is the founder and CEO of VeriSIM Life, a startup developing disease-specific simulation software designed to replace animal drug testing by using artificial intelligence. We talk about translational gap in drug discovery, the technology VeriSIM is developing, especially their virtual mouse models; some of the mathematical models being used in the process of drug discovery, challenges building partnerships with big pharma; How FDA is evolving their thought process about accepting data from AI; acquiring another startup while being a startup; and finally about spinning out a pharma company as a subsidiary. Shownotes: - https://www.verisimlife.com - Translational gap & current technologies - Verisim's technology: -Building virtual mouse - Avoiding the royalty trap early on - What made investors trust a solo founder? - Mathematical models for biology - Building a startup not spun out of a university or without a PI a part of it - Filtering investors: Understanding the No's - Building partnerships - Lessons learned about commercialization - Things that didn't work while working with partners - Comparing apples to oranges - Product evolution: Translational index - Data sources - FDA efforts: How FDA is evolving their thought process about accepting data from AI - Team - Acquiring another startup - Spinning out a therapeutic company - https://www.verisimlife.com/careers
Lucira Health
Mar 7 2023
Lucira Health
Debkishora Mitra and John Waldeisen are the co-founders of Lucira Health. Lucira Health, which was originally founded as Diassess, is the first company to get an FDA approval for at-home PCR based test for COVID. We talk about the story of Lucira from its founding stage to raising; the technological and market based pivots; raising over $250M (including an IPO); COVID; leadership transition; regulatory affairs; ups and downs of the journey; FDA approval of at-home flu and covid test and the unfortunate bankruptcy. Shownotes: - https://www.lucirahealth.com - Educational backgrounds of the founders & how they met - Market exploration in search of billion dollar markets: markets for diseases like Malaria not big enough (~$50M) - Technology development: Disposable RT PCR; Passive Fluid actuation; Colorimetric PCR- Visible DNA amplification - Deborah Dean, MD, UCSF - Running PCR in the second bedroom at home; struggling to pay rent - Raising seed round - Visa struggles- Detour to deal with immigration struggles - Growing the team; mistakes - Transparency, radical candor - Ego - Fundraising: Kissing the frogs; building soft circles - Diagnostics market is super hard - Non-dilutive funding; mental models - Venture capital: Lessons learned - Pivots: Technological and market driven (STD, flu, COVID) - Challenges: Regulatory, customer centric thinking, scalability (manufacturing, distribution) - Deep dive into regulatory challenges: Issues with comparing with predicates - "In the diagnostic space, 'you don't want to be the first in the market" - Selecting an advisor to provide regulatory guidance for a startup - Deep dive into product development - Understanding the value of luck: Having a plan B - Evolution of the "Go to market" strategy - Government policies: Macroeconomic factors that affect pricing for startups - Create options as the CEO - Building the narrative - Leadership transition; journey towards IPO - VCs tie your personality to your startup- something to keep in mind for founders - Highs and the lows
Legal 101 for deeptech founders; Understanding the basics; dilution, and safeguarding employee equity
Feb 21 2023
Legal 101 for deeptech founders; Understanding the basics; dilution, and safeguarding employee equity
Nick Dorsey and Amanda Gold are partners at Cravath, Swaine and Moore, LLP. Cravath has been known as one of the premier law firms in the US for more than two centuries. We talk about a wide variety of topics involving legal aspects for startups from incorporation to exit- incorporation, picking a law firm, equity split, vesting, hiring first employees or consultants, creating the right incentive structures using equity, valuation, negotiating with investors,  dilution of equity and safeguarding founder and employee equity. This is meant to be a primer on legal aspects for aspiring founders and also early stage founders listening to this podcast. Show notes: - https://www.cravath.com - Nicholas Dorsey, Amanda Gold - Incorporation:LLC, S-Corp, C-corp, Up-C structure - How to find a law firm to work with? - Charter, Bylaws, Shareholders agreement, 83b - Question to ask a potential co-founder: "How long do you intend to be at the startup?" - Can a startup pick more than one firm? - Equity split, vesting, rights - Hiring your first employees or consultants, creating the right incentive structures using equity - Restricted stock, RSU, stock options - Seed funding- Convertible notes, SAFE - Valuation, 409A, post-valuation, pre-valuation - Don't get stuck on valuation - Negotiating with investors, M&A, IPO - Tag along lines, drag along rights, consent rights - Liquidity, secondary sale - Trying to safeguard employee equity- providing liquidity to employees