*Photo credit from Biomedical Sciences Industry Partnership Office (BMSIPO)

**Seminar co-organized by co11ab, BMSIPO and SGInnovate

Central to the seminar was SGInnovate‘s landscape report on Health & Biomedical Sciences presented by Nikita Gupta, offering a detailed analysis of current industry trends, emerging opportunities, and the challenges that lie ahead. This report is particularly beneficial for startups, providing insights into evolving investment patterns and key areas of interest for investors as companies progress through different stages. This knowledge enables founders to better understand the landscape, allowing them to allocate resources wisely and strategize their development plans effectively.

Besides presenting the core business focus of Johnson & Johson, Dr Sharon Chan (JLABS Asia Pacific, JLABS Singapore, Johnson & Joshnson) emphasized the significance of strong business strategies, mentoring, and global visibility. These elements are essential for startups to navigate the highly competitive biomedical landscape.

The session was carried on with panel discussion joined by Stephen Sunderland (L.E.K. Consulting) and Dr Yingmin Wang (ClavystBio). The discussion provided real-world advice, focusing on the critical importance of understanding unmet market needs. This understanding not only attracts investors but also underscores the necessity of robust intellectual property (IP) protection, which is crucial for maintaining a competitive edge in the industry.

The session also underscored financial management as a critical aspect of startup success, stressing the importance of prudent capital management to avoid the common pitfalls that lead to failure.

The seminar concluded by stressing the need for a global mindset and scalability from the outset. Entrepreneurs were encouraged to seek collaborations with major industry players, such as big pharma, to enhance their growth prospects and ensure sustained success.