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Nor an armed force Network

September 28, 2012

Follow up thoughts, long-time in the making, RE:

David’s original question was, “You’re a startup CEO with a great idea. If you can only have 1, do you start with $, a great network, or a great team?

Here’s a summary of the responses via Appeering: http://www.appeering.com/explore/biotech#conv/MjMzMjA3OTE5NjA3NDQzNDU2=appeering

I tend to agree.  I think the right network can be the key. With a few caveats.

The right network is the key if the person with the network is willing to put that network in play to find the right people.  Meaning, you have to use it.  And, you might replace yourself.

It ties back to another discussion; main role of a startup biotech CEO Storified by @scientre here.  One of the common themes; hire a great team.  I think that can be a function of network.

Quote from David from this article in Inc., Choosing the Right VC is More Important Than Any Hire You’ll Ever Make; “Their network and experience could make or break the company.”  Yes, that network is important, too.  Especially in the context of network as the ability to help syndicate a deal.

And then there’s institutional level network.  I’m talking specifically university alumni.  What a potentially great network to tap into.  Often they are more than willing to help.  That network can greatly expand a university spinout’s reach and scope.  It could mean that the startup goes to the locale where the alumnus is already located.  And has his or her–say it with me–network.

More on this in the coming months.  Case studies of how a network didn’t coalesce and, I hope, how it did.

Almost forgot; KNODE, one of David’s companies.  It’s a way to network.  KNODE and UofL are working together.  How?  Networking.

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