Stanford's Entrepreneurship Corner: Gordon Ringold, Surromed - Change the Business Plan in Response to a Changing Environment

Change the Business Plan in Response to a Changing Environment

Description

Surromed had to change their business plan due to two reasons, says Ringold:

1) External climate

2) Lack of potential partner interest. All good startups will adapt the business plan in their life, he notes. For example, Surromed shifted to a product revenue generating model. They started to provide a service to make money which they could invest in their own discoveries. The company moved from generating equity capital to generating revenue.

Gordon Ringold Biography

Dr. Ringold was most recently CEO of the Glaxo-Wellcome Group's Affymax Research Institute, where he managed the development of novel technologies to accelerate the pace of drug discovery. He is a co-founder and director of Maxygen Corporation, a Managing Partner of Technogen Associates, L.P., a private investment firm, and has over fifteen years of experience managing the discovery and development of pharmaceuticals and novel, enabling life science technologies. Prior to Affymax, Dr. Ringold served as Director and Vice President of the Institute for Cancer and Developmental Biology at Syntex, now a division of Hoffman La-Roche. Dr. Ringold received his B.A. in Biology from UC Santa Cruz, and his Ph.D. in Microbiology from UC San Francisco. He was on the faculty of the Department of Pharmacology at the Stanford University School of Medicine, and is currently a consulting professor there.

Surromed

Entrepreneurial Thought Leader Lectures

2003-02-26

4min 3sec

ID: 413

Rating:

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