Insights Into Building CROs in Asia and in Europe

A conversation with Dimitrios Tzalis


Every Scientist who wants to develop science into a helpful product for customers or patients must one day think about ways to bring an invention into a company—either founding a company or licensing technology into one so that the team can start building a product that solves a problem.

Companies need to have a business model that creates sufficient cash flows to cover the running expenses.

But where can scientists go when figuring out how companies work and which business model suits the entity's purpose?

The best way is to talk with people who have already gone through this experience and learn from their successes and how they overcame obstacles.

Today’s speaker is Dimitrios Tzalis.

In the 90s, he received a Ph.D. from the University of California, San Diego, a Master of Science in Chemistry from the University of Chicago, and a Master of Science in Biochemistry from Ball State University in Muncie, Indiana USA.

1998 he returned to Germany to found Taros Chemicals GmbH & Co. KG, one of Europe’s leading chemical CRO companies for drug discovery chemistry and custom synthesis services.

In this conversation, we discuss the development of the European Pharma Eco-System, different business models generally accepted in the industry, and what it takes to lead a company to success.

Questions we discuss in the show:

In this conversation, we discuss the development of the European Pharma Eco-System, different business models generally accepted in the industry, and what it takes to lead a company to success.

  • When and why did Dimitrios decide to found a novel company?

  • How did Dimitrios find the Right Business Model?

  • How did the industry evolve in India and Germany over the last two decades?

  • How do you see the future of the life science industry globally after the push that it got with Sars Cov 2?

  • And much more…

Follow Dimitrios Tzalis and Taros:


Video to the Episode:


00:00 Introduction

04:25 Introduction Dimitrios Tzalis

05:45 How to Start a Life Science Company During the Bubble Times

08:15 The Decision to Start a Company Rather Than Applying for a Job

10:15 How did the European Life Science Eco-System Look Like in the 1990s?

12:54 Where to Get Inspiration for Writing the Content of a Business Plan?

16:54 The Structure of the Pharmaceutical Industry in the 90s/early 2000s

20:15 The Networked Life Science Economy – From the 90s to 2021

22:55 The Different Mindsets Needed to Bring an Idea to Market

31:05 How to Fund Early-Stage Development Companies

36:30 From Founding a Company in Germany to Founding a Company in India

41:10 How Technology Changed Collaboration in the Last Two Decades

44:25 Development of Cultural Similarities and Differences Between India and Germany Since 2000

47:00 Is there a Global Convergence of Business Culture?

52:17 The Pharma Industry in India – 2000-2021

55:20 The Future of the Pharmaceutical Industry in India

57:40 How Are Problems Approached in India vs. Europe?

01:01:20 How Entrepreneurs Approach Problems

01:03:15 Entrepreneurship & Passion

01:06:00 The Role of Passion in Entrepreneurship

01:10:20 The Role of Leadership in Building a Team

01:12:26 Teamplay in Companies

01:14:54 Life Science Business Models

01:20:10 The Private and The Public Life Science World

01:25:00 The Future of the Life Science Industry in Europe

01:42:50 The European Culture Around Entrepreneurship

01:50:00 Short-Term Thinking and Long Term Planning

01:54:30 What is the Most Important Advice to First Time Founders

Thanks, Dimitrios Tzalis!

If you enjoyed this session with Dimitrios Tzalis, let him know by clicking on the link below and sending him a quick shout out at Twitter:

Click here to thank Dimitrios Tzalis on Twitter!

Click here to let Christian know about your number one takeaway from this episode!

Support the Show:

If you enjoy the LSG2G Podcast Beginners Mind, you can help support the show by doing the following:

  • Become a Subscriber and get access to shows early or help contribute

  • Subscribe on Spotify | YouTube | and leave a comment

  • Share the show and episodes with your friends and family with this Link

  • Follow on Linkedin | Twitter |

If you are interested in sponsoring the show, please feel free to drop me an email to discuss options.

Community Partner:

These companies make the community, this newsletter, and the LSG2G Podcast possible, so go check them out and thank them for their support!

Partner Links

You are receiving the LSG2G-Letter because you either signed up or attended one of the events organized by LSG2G. Feel free to unsubscribe if you aren’t finding this valuable.

Nothing in this email is intended to serve as financial advice. Do your own research.