The platform company: Product or partner?

I was recently invited by Bioentrepreneur to outline my thoughts on developing a platform company in light of Numerate’s focus on establishing partnerships to both expand our therapeutic reach and build a self-sustaining business model.

In a nutshell: The early stage of business development presents a chicken-and-egg problem: you need to build and validate the platform to attract investors or partners, but building and validating the platform actually requires funding from investors or partners.

My recommendation: Your first few deals should emphasize science and validation, not economics.

Link: Building today’s platform company, Bioentrepreneur, 6/30/09