Anyone remembers my posts from a few weeks ago about DNA outsourcing idea?
In brief, I learned that doing basic molecular biology in Thailand is very slow and expensive compared to in the US (about 3 times or more expensive and slower).
The reason is that the place like Thailand does not have local companies that provides cheap, fast, high quality reagents and analysis services; things need to be shipped in and out of the country many times especially for mulit-step works like putting a few pieces of genes on one DNA. I recognized that as a business opportunity: outsourcing such multi-step tasks from the place like Thailand to the place like US. From back of envelope calculation, it is cheaper and faster to do multi-step works, all at once, here in the US and ship to Thailand than to do multi-step works in Thailand (but you have to ship things in and out from Thailand to Malaysia or Taiwan multiple times in the process). I also realized that this is a great opportunity for a startup biotech business in the US, especially those specialized in basic molecular biology: there are researchers over there who really desperately need cheaper and faster ways to work...much more desperately than their peers in the US..and no other big companies really try to serve that need, thinking that the market is much smaller than in the US. Yet, these scientists in developing world, in my opinion, would likely to be early adopters of any new services that help them cut down cost and speed up work.
...when there are people with desperate needs...there is a market opportunity.
I had that high-level idea above..I didn't really know how to get start.
How do I help my fellow biologists in Thailand reducing cost and speeding up their work?
...(and maybe get some money for that!)
Yes, I did pitch the idea in Startup Garage..but it didn't really call attention from classmates who know very little about biology research.
Yes, I did get in touch with DIY community..but they aren't in the position to put something together without a heavy push from my side.
Luckily (or luckily), there is a startup company near Stanford. It's brand new..just opened for business less than six months ago..and currently has only three employees. It sells something I do want to sell: ability to researchers to outsources mulitsteps molecular biology works to them..to save money and time.
I was freaked out a little bit when I learned about it...the same feeling as getting scooped as a scientist.
The only missing thing is that the company hasn't really looked outside the US (which is intuitively make sense to start small and local before going international)..and hasn't really aware of a huge market opportunity on the other side of the planet.
..what should I have done?..be quiet and continue working on my plan? I don't know.
...but here is what I actually did.
1) I emailed that company, explaining the problem of cost+speed of molecular biology in Thailand, asking if they can help..and pointing out market opportunity. ..
....and yes, they're interested.
2) I had a phone call conversation with the founder last week..then one-on-one meeting today...and he's convinced that the company can help make thing faster and cheaper there in Thailand..and there is indeed an interesting market opportunity he didn't see before there.
3) I helped connect him, the founder, to my biologists friends in Thailand.
..ok, yeah..I probably just blew away my own business opportunity..but probably also for a good reason: those in desperate needs will be served.
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