Power Up Your Partnering
Olivier Duchamp-Giudicelli and Christina Herder
With only a couple of weeks left to one of the life science industry’s most prominent partnering events globally, Bio International, preparations are intense among those set on taking part of this year’s edition. Between 16th and 19th of June, over 20,000 delegates are anticipated to gather in Boston for a frenzy of face2face meetings, seminars and networking events. For those new to the game, the experience could be somewhat overwhleming. Therefore, we have spoken to a couple of seasoned partnering champions, Olivier Duchamp-Giudicelli and Christina Herder, to gather some advice on how to get ahead of the game.
Starting with the basics, how should you approach a partnering event this huge?
Partnering events could be compared to speed-dating and it a great way of networking, says Herder. However, in order to make the most out of this type of large-scale event, you should begin with a clear internal assessment of your goals, Duchamp-Giudicelli underlines. The purpose of attending should be well defined and aligned with the partnering profile you publish, making it easy for others to understand your objectives.
With so many actors participating, how can you select who to meet with?
Having a careful and strategic approach will be essential. You should conduct a deep review of the partnering platform in order to identify your potential partners and/or investors based on your business objectives as well as ideal collaborator profiles, says Duchamp-Giudicelli. Make sure to spend ample time in the partnering system, getting aquianted with who is attending and how to best approach them. A customized message will take you much further than a standardized message.
Preparations are key, you say, but how can you actually prepare for such a multifactor event where you cannot control the parameters
Indeed, serendipity does play a part, Herder agrees but emphasizes that even unplanned meetings maybe in the hall way or in the que to taking coffee could easily be thought through in advance. Have your short “elevator pitch” ready for any unscheduled meetings, Herder advises. Further more, she raises the importance of securing that your non-confidential deck is giving the most relevant information about your asset/company. In order to make room for introductions, next steps and time to walk to the next meeting, your presentation should maximum be around 10 minutes. It is very important to customize each presentation to align with the objectives of the party you are meeting as much as possible.
Any advice on how to stand out through clever communication?
In terms of breaking through the noise, Duchamp-Giudicelli emphases the importance of strategic use of social media, particularly LinkedIn. It chould be used to amplify presence and goals at the event. Sharing why the company is attending and what they’re looking for can attract interest outside the partnering system.
More specifically when it comes to the actual meeting occasion and how to make best use of those 30 minutes, Herder adds that it is important to understand that at partnering events there will be both people with a scientific and/or a commercial background as the evaluation from potential partners or investor contains both aspects. And it varies from each company which aspect is in the lead. So your pitch must adapt to who you have across the table. Also remember that at a first meeting, the sole purpose will be to catch the interest in order to continue the dialogue.
Beginners guide to partnering – check lists!
Who should attend from your company?
Startups: The CEO is often best positioned to cover the overall aspects of the business.
SMEs: Roles like the CSO or Medical Advisors may be most suitable, especially when scientific or technical discussions will be required.
Seeking pharma partnerships: Scientific or R&D leads should participate.
Seeking investment: Members of the finance or business development team will be key.
What needs to happen after you have registered for a partnering event?
Complete your partnering profile as soon as possible after the registering.
Around 6–7 weeks before the event, begin searching the platform and start sending meeting requests.
It's important to monitor the platform daily for new participants—early outreach often yields better results.
How to structure your F2F meeting while in partnering
After the brief introductions, ask what made the other party accept your invitation. This will help you to adapt your presentation better for this particular meeting
Do your non-confidential presentation as customized as possible to match the interest of the other party. Keep it brief and be sure to create a dialogue
Summarize the meeting and agree on next step