BIO-Europe’s got talent
BIO-Europe delegates are invited to break out their charm and test their pitch against a panel of pharma BD big wigs in a session called BIO-Europe’s Got Talent. They will have 30 seconds, roughly a four-floor elevator trip or about 90 words, to convince a panel of judges that they deserve another meeting. The judges, representing 11 different pharmaceutical and biotechnology companies, will evaluate each contestant on both the quality of the pitch and the relevance of the opportunity to judges’ BD priorities. A second round with eight finalists will feature one-minute presentations and judges will have four additional minutes to question each contender.
A Prize with Endless Possibility
Each winner will be awarded a full 30 minute meeting with a judge of his or her choice. Judges will also receive a synopsis of the contestants and their scores to help them identify companies with whom they want to personally follow-up.
Panelists and judges listening to the pitches and awarding the most talented with one-on-one meetings are business development executives from Bayer HealthCare, Bristol-Myers Squibb, Johnson & Johnson, Merck & Co., GlaxoSmithKline, Novartis, Novo Nordisk, Exelixis, Roche, AstraZeneca and Pfizer.
Going Up? The Art of the Elevator Pitch
While not always given on an elevator, a pitch should be succinct and clear. The primary goal is to pique a partner’s interest and secure a follow-up meeting. The pitch should be continuously revised and practiced because the moment a potential new business relationship arises could be completely unknown.
Highlighting the importance of an elevator pitch and the preparedness of an entrepreneur, take this financing story from the software industry: Dave McClure, founder of 500 Startups, recently made a USD 100,000 seed investment with Baydin Inc., makers of the email software Boomerang, after CEO Alexander Moore gave the angel investor an impromptu car ride to a mechanic’s shop. The entrepreneur was alerted to a plea from McClure on Twitter and responded immediately with a ride, pitch and then detailed explanation of the technology (via Xconomy).
But for biotech, the traditional pitch takes on a new twist. This is an industry in which scientific success can be five, ten or even fifteen years in the making. How will a participant boil the promise of the company’s platform or pipeline down to 30 short seconds? Will the winners try to pack a quick science sound bite into their 90 words or focus on personal dynamism to carry the day? Will judges be swayed most by honesty, intelligence or wit? This session will propel executives into the fray to see how they react.
Who knows? Maybe next year we’ll see a new session, BIO-Europe Talent Winners: Where Are They Now?
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