| | | | | knowledge commercialized. |
| by: Geoff Ficke | | | | Celera was a start-up in 1998 and completed the |
| Mapping the human genome had been a goal that | | | | genome map in 2001. In a fraction of the time and |
| modern bio-scientists yearned to conquer for | | | | with a fraction of the funding of the government |
| decades. Human genome, basically a map of each | | | | group Celera was widely considered the winner of |
| humans cell make-up, if properly researched and | | | | the race that was never formally acknowledged. The |
| documented, could provide the answer to myriad | | | | result should surprise no one. The result also should |
| mysteries, including: why we age, genetic markers, | | | | inspire every entrepreneur. |
| causes and cures for diseases and many more | | | | The government team was playing the game by |
| questions previously thought unobtainable. The drive | | | | different rules than Celera. The pressure applied by |
| to chart this monumentally complex scientific puzzle | | | | private investors was absent from the government |
| lead to an interesting competition. Entrepreneurs can | | | | effort. Politicians are not exactly known as tough |
| learn much from this race. | | | | taskmasters when applying large sums of money to |
| The United States government’s National | | | | solving problems and demanding results. Government |
| Institute of Health, partnering with the British | | | | is great at establishing bureaucracies, lousy at solving |
| government was tasked with charting the human | | | | problems. The urgency impressed on Celera to move |
| genome in the mid 1980’s. The government | | | | ahead quickly and successfully was just never a |
| employed the finest bio-scientists, facilities and | | | | consideration for the government. |
| equipment in the effort to successfully complete the | | | | Who really won this race? The consumer was the |
| work. Budgeted funds were generously appropriated | | | | real winner. The speed with which Celera mapped the |
| for the project. The United States was reported to | | | | human genome enabled numerous medical products |
| have spent over $3 Billion on research, the British | | | | and treatments to be moved quickly ahead to |
| government added considerably more. | | | | market. |
| In 1998, a brilliant scientist named Dr. Craig Ventner, | | | | The lesson we can all learn is that a hungry |
| while reviewing the published work product of the | | | | entrepreneur has an innate advantage over the large, |
| government, decided that a different approach could | | | | bureaucratic enterprise that seemingly holds the cards |
| be undertaken to provide a faster, more accurate | | | | in any business competition. How did MicroSoft, |
| answer to the complexity of the chore. He wrote a | | | | starting in a garage, create the source code for |
| business plan that was based on a “shotgun” | | | | software that IBM totally missed? How did Wayne |
| type of research format. Dr. Ventner approached | | | | Huizenga create a roll-up business model that lead to |
| venture capitalist funding sources and raised $300 | | | | Waste Management, Blockbuster Video and Auto |
| million in private funds. His venture, Celera, was | | | | Nation while large, established companies in each |
| charged with mapping the genome in order to | | | | industry slept? Google, Hard Candy, Home Shopping |
| commercialize the findings. The race was now on. | | | | Network and Sephora are only a handful of now |
| The government team enjoyed the advantage of a | | | | large and successful businesses that were just |
| decades long head start, huge funding commitments | | | | start-ups not so long ago. They were opportunistic, |
| and a deep roster of talent. The government was | | | | agile, creative and fearless in the face of much larger, |
| not seeking to profit from the discovery of the map. | | | | more established rivals. |
| As always, the goal of government was to provide | | | | There has never been a better time for |
| for the common good. | | | | entrepreneurs with a novel idea to take on the big |
| Celera, however, also wanted to provide for the | | | | boys. In fact, the bigger the competitor, the better I |
| common good. The ability to accelerate the speed of | | | | like the entrepreneur’s odds of success. I |
| discovery, convert the knowledge gained into | | | | counsel dozens of entrepreneurs in my consulting |
| commercial cures and products, and thus make | | | | business. I always encourage these pioneers to face |
| profits, was the goal of this private venture. Celera | | | | behemoths with respect, but not fear. Celera’s |
| did not have unlimited, funds, talent or time. The | | | | Dr. Craig Ventner is an ideal model for all of us to |
| investors wanted the markers laid down in the | | | | study. |
| business plan to be met and to see a return on their | | | | If you have an idea that you would like to discuss |
| investment. In order for this to happen, the scientific | | | | feel free to contact me. Geoff Ficke can be reached |
| task needed to be completed and the resulting | | | | at 859-567-1609. |