Startup Success Stories, Lessons, Pivots and Failures

September 6, 2022 | 7:00 pm - 9:00 pm ET | Microsoft Technology Center, Burlington, MA & Online

Speaker Slides

An Entrepreneur’s Commentary on Startup Lessons Learned

Richard Fauconier, Ph.D., Co-Founder, Precisyx, LLC

Startup Lessons From An Early-Stage Development Viewpoint

Enrique Shadah, Expert Collective Cooperative, MIT LinQ Catalyst Program for Biomedical Innovation

Startup Success Stories, Lessons Learned, Pivots and Failures

Bonnie Fendrock, MS, MBA, Co-Founder and CEO Cyta Therapeutics

Investor Decision-making and Trends in Biostartup Formation and Financing

Isaac Stoner, PhD, MBA, Co-Founder and CEO Octagon Therapeutics

A  recording of this webinar is available for ENET members only at https://bostonenet.org/past-webinar-recordings. Learn how to become a member here!

 

enet panelboard 3201

ENET is pleased to announce the first event of our 32nd program year. This event will be held as a hybrid event! Attendees will have the option to join us in-person at the Microsoft Technology Center in Burlington, MA or online via Zoom.

Launching a successful startup can be an extraordinarily rewarding experience. Whether the goal is to create a great medical device, drug, software or some other innovative product/service, the journey to success most often is memorable, a testament to hard work, ingenuity, and leadership, and may even come with big financial rewards.

That successful entrepreneurship is a journey is an important point to reinforce. Even overnight successes rarely happen…well, overnight. Entrepreneurs usually start out with an innovative idea that leads to the startup. Once an appropriate corporate entity has been formed (C-Corp, LLC, LLP…?), the founders of the fledgling startup need to gain an understanding of the intended market and then, assuming a successful product launch, how to access that market. Along the way, there are important milestones to accomplish, including: protect intellectual property, develop a viable product, meet regulatory requirements, develop sales strategies, and build a team to do the work. The founders also need to seek funding for the startup, whether from private investors, early sales, government grants, collaborations, or other sources.

What happens when things don’t go to plan? There should indeed be a plan, guided by founder experience and research, along with advice from advisers, mentors and other entrepreneurs. Advice from others can be seen as learning from other peoples’ mistakes – this releases the entrepreneur to make new, original mistakes, which will become invaluable tools for the path to success, or pivots, if needed. The persistent, successful entrepreneur knows that even failure will offer up learnings to fold into the next venture. Tonight’s panelists will share stories about their entrepreneurial adventures and the lessons learned along the way.

More information:

This is a hybrid event. You may choose to participate in-person or online.

In-person Participation (check-in begins at 6:00 PM):
LOCATION: Microsoft Technology Center, 5 Wayside Road, Burlington, MA 01803.
PARKING: Free parking is available.
REFRESHMENTS: Pizza will be served.
COVID POLICY: You are required to provide proof of vaccination or self-attest to having received a negative COVID-19 test within the previous week via HealthCheck. Attendees who do not upload proof of vaccination must wear a face covering onsite.

Online Participation:
Zoom links will be sent to all registrants after registration.

COST AND RESERVATIONS: This event is free for ENET members and $10 for non-members. Click here to learn how to become a member. To expedite sign-in for the event, we ask that everyone — members as well as non-members — pre-register. Pre-registration is available until midnight the day before the meeting. If you cannot pre-register, you are welcome to register in person at the door while seats are available.

Event Schedule

September 6, 2022
6:00 pm ET
Registration
On-Site Check-in and Networking
7:00 pm ET
Introduction
ENET Chairperson's announcements
7:10 pm ET
eMinute Pitch
up to 3 startups give a 90-second elevator pitch
7:25 pm ET
Expert Panel
expert speakers on the night’s topic
8:15 pm ET
Q & A
Moderator and Audience Q & A with the speakers
8:30 pm ET
Networking
Final Networking, including the night's speakers

Panel Speakers

Fauconier Richard

Richard Fauconier

PhD, Co-founder Precisyx, LLC

Dr. Richard Fauconier is a co-founder of Precisyx, LLC, where he is in charge of its consulting and product development arm. Precisyx’s other arm is a logistics operation. Dr. Fauconier is also a co-inventor of a multi-laser device for the stand-off chemical recognition of substances on surfaces. He holds 2 patents in this field, and currently leads a Precisyx team working on contractual modifications to the laser device, under the auspices of the Department of Homeland Security. In addition, he is the author or co-author of several technical papers, mostly in the disciplines of radar and substance-on-surface chemical recognition. Dr. Fauconier follows a duality principle in his work, in which entrepreneurship and engineering go hand in hand, neither sufficient by itself, and both equally necessary.

 

Fendrock Bonnie

Bonnie Fendrock

MS, MBA, Co-Founder and CEO Cyta Therapeutics

Bonnie Fendrock is a biotech executive and entrepreneur. She is currently the founding CEO of Cyta Therapeutics, an early-stage spin-out from UMass, Amherst focused on developing new drugs for obesity, cardiometabolic disorders and liver diseases. Prior to founding Cyta, Bonnie was CEO, Co-founder and Board Member of Hepregen Corporation, a venture backed, commercial stage, MIT spin-out which developed products and services used by biotech and pharmaceutical companies in the drug development process. She continues to be an advisor at Red Sky Partners, a boutique consulting firm providing corporate development, product strategy and leadership support to life sciences companies. With thirty years of experience in biotech, Bonnie has a general management background and has held roles in corporate and business development, marketing and program management from foundational and high growth biotechnology companies including Genzyme, Somatix, and Genetics Institute.

Bonnie is a current member of the Commercialization Advisory Committee of Gloucester Marine Genomics Institute (GMGI) and just joined the Board of Directors for Wellspring House in Gloucester. Bonnie is passionate about supporting individuals on their path to financial independence and career success. As such, she has volunteered her time and skills as a mentor and advisor throughout her career. Bonnie served as a Director on the Boston Chapter Board of the Healthcare Businesswomen’s Association (HBA) for five years and volunteers as a mentor to entrepreneurs through The Deshpande Center at MIT and other organizations. In 2012, Bonnie was honored along with other innovation leaders as one of the Mass High Tech ‘Women to Watch’. Prior to business school, she worked in research and product development at Integrated Genetics and Centocor. Bonnie received a BA, Molecular Biology from Wellesley College, a MS, Interdisciplinary Science from MIT and a MBA from The Wharton School, University of Pennsylvania as a Management of Technology Fellow.

Shadah Enrique

Enrique Shadah

MBA, Founding Director and President, Expert Collective Cooperative

An expert in all aspects of the process of venture creation, Enrique has founded and led startups, advised sellers and buyers in M&A transactions, and spearheaded industrial collaborations and spin-offs in academia. Enrique currently serves as the founding Director of the Expert Collective Cooperative, an organization focused on advising business and technology leaders translate knowledge into digital and physical products and services that have positive socio-economic and environmental impact. He also holds an appointment at the MIT LinQ program for biomedical innovation, housed within MIT’s Institute for Medical Engineering and Sciences, in which he focuses on managing venture and industrial relations.

At MIT, Enrique developed expertise in leading a community of academics, practitioners and professionals to create win-win collaborations. For example, Enrique was the conceptual creator of MIT’s Startup Exchange, an online platform that enables interactions between MIT’s Industrial Liaison Program’s corporate members and MIT-connected startups (http://startupexchange.mit.edu) and remains an active mentor in the MIT startup community.

For most of his tenure at the Institute, Enrique has held industry-facing positions including Head of the Workplace Learning Collaborative at MIT’s Abdul Latif Jameel World Education Lab (J-WEL; http://jwel.mit.edu) and Senior Industrial Liaison Officer at the Office of Corporate Relations.

Enrique earned a master’s in business administration from Babson College in Wellesley, Massachusetts (Magna Cum Laude) and a Bachelor of Science Degree in Mechanical Engineering from Universidad Simón Bolívar in Caracas, Venezuela. Enrique is fluent in English and Spanish and has basic knowledge of Portuguese.

Stoner Isaac

Isaac Stoner

PhD, MBA, Co-Founder and CEO Octagon Therapeutics

Isaac Stoner is the co-founder and CEO of Octagon Therapeutics, a drug discovery company focused on targeted first-in-class medicines for severe autoimmune disease. He has been in technical leadership roles at a variety of early stage life sciences startups including Firefly BioWorks (acquired in 2014) and Ion Torrent (acquired in 2010), and gained venture capital experience at GlaxoSmithKline, PureTech Health, and KdT Ventures. Isaac earned an MBA at MIT and a degree in biomedical engineering at Brown University.

Moderator & Organizers

Frechette Roger

Roger Frechette

PhD, Principal and Founder, NEPAssociates, LLC

Roger is a life sciences consultant/advisor, helping early-stage life science companies to succeed and to grow. His work with clients leverages an extensive global network and multi-disciplinary insights derived from >20 years of experience in the business of life sciences, calibrated with an extensive science background. His career has encompassed success as a business executive, project/alliance manager and entrepreneur, and as a scientist, including leadership of discovery/preclinical development teams resulting in two FDA approved therapeutics. Roger has been a volunteer with Boston ENET since 2014, in addition to supporting start-ups as a mentor with MassBio, and other Greater Boston Area entrepreneur support groups. He also a mentor with 12Ronnies, a global early-stage startup mentorship organization.

Online Register for this event is now closed. We welcome at-the-door registrants if you would like to attend in person!

LOCATION: Microsoft Technology Center, 5 Wayside Road, Burlington, MA 01803. Check-in and networking begin at 6:00 PM

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