Insights Into Building CROs in Asia and in Europe
A conversation with Dimitrios Tzalis
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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:
Shownotes:
Video to the Episode:
Timestamps:
00:00 Introduction
04:25 Introduction Dimitrios Tzalis
05:45 How to Start a Life Science Company During the Dot.com 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!
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