While these tasks are being performed, who is creating the relationships with partners or customers that will potentially help develop the company, or have complementary technologies or skills, or complementary IP to that of the company, who is keeping an eye on the world “out-there” to understand early enough what will be the next hot themes or to find out if a large pharmaceutical company is about to start looking for just the type of product your small company got on offer, with a bit more of development work?

Well, everybody in management is doing it, but these functions are not being done full time, or in an integrated manner, because finding someone who knows how to do them well is expensive and companies in early stages have to watch every cent they spend. So, either there is already a person performing these tasks in the company, or they are not being performed to their best. Are these tasks sufficiently important that they bring the company a competitive advantage? I.e., is the cost of hiring a Business Development Manager justified by the value that the function brings to the company?

Read more at Business Development in Biotech – a competitive advantage?