SINE: Building a Team of the Willing

Case Solution

Jim Pulcrano
IMD ()

An academic research group serving medical device companies had examined most of the new materials on the market and in development. They found a new approach to solving known problems related to the repair of damaged living tissue. The laboratory leader and the research group leader knew that this would be an opportunity to help many patients and decided to patent the invention. An initial private investment in exchange for 50% of the intellectual property rights allowed for a preclinical evaluation. Initial discussions with major medical technology manufacturers showed interest, but initially needed clinical evidence. In cooperation with the university’s TTO (Technology Transfer Office), a startup business plan was developed and venture capital (VC) funds were raised, allowing the new technology to pass the first clinical evaluation. . Dr. Gérard Bouchier, research group leader, December 2008. On the morning of December 15, spirits were high. Over coffee, the team reviewed their company’s presentation one last time. All hopes were pinned on the meticulously planned venture capital union meeting, which could finally spell a step forward in the founding of his medical device company. After spending the last two years preparing the case, Gérard knew he was ready. Unfortunately, despite the excellent reception of the case and the positive atmosphere at the table, none of the venture capital funds wanted to take the initiative. Worse still, about two weeks later, the Great Financial Crisis hit the region and all the funds came from the discussion. Now what? Learning Objective: 1 / How to build and ensure a motivated management team. 2 / How to organize fundraising in the early stages of business development, how to carry out a strategic initiative, how to set the course and plan the right resources, how to quickly adapt strategies to changing environments. 3 / Application of leadership concepts and in particular organizational dynamics.

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