Utopic Ventures: Building Biotech Startups Like a Silicon Valley Tech Company
In this episode of the Africa Biotech Conversation podcast, host Adrienne Leussa speaks with Neil Thanedar, the founder of labdoor.com and Utopic Ventures.
Neil shares his inspiring story of building a biotech startup like a Silicon Valley tech company, including the creation of Labdoor.com, which tests vitamins and supplements that the FDA doesn't test and offers free transparency on product purity and accuracy. Through Labdoor.com, Neil raised over $7 million in seed and Series A funding and built a platform for independent testing.
Neil also discusses Utopic Ventures, a fund they started to fill the gap for the first equity check for biotech startups, particularly those that need to drop out or spin out of universities. The focus of the fund is to help biotech founders take the first few steps after they've spun out of a university and get their first sets of funding.
Here are some of the key topics covered in this episode:
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Neil Thanedar's background and inspiration for entering the biotech industry
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How he raised funding for Labdoor.com and his vision for the future of biotech startups
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The vision for Utopic Ventures and filling the gap for pre-seed and seed funding for biotech startups
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The potential of younger and international biotech founders
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The bias against founder-driven and non-pharma biotech
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The potential for biotech in agriculture, industrial, and environmental sectors
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The meaning of "it's 1994 again" and how the next generation of businesses will be created
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The importance of education for investors about biotech.
- The potential for Africa in the biotech industry
