Finding the right ecosystem is key to survival in migration—from monarchs to salmon. Launching a new product or business is similar, as these processes face unpredictable regulatory weather, starvation from capital, or access to safe nesting beds for manufacturing.
In Part 1 of Biotech Business Ecosystems in San Diego, we covered the principles of James Moore’s business ecosystems and how they applied to the biotech industry.
Key features within the biotech business ecosystem are:
- Increasing complexity
We ended Part 1 questioning predator versus prey hierarchies. In this model, the biggest fish swallows all other fish. Yet, we know this isn’t true. An Orca would have a rather difficult time chasing down puffer fish as they dart in and out of coral heads.
With respect to businesses, James Moore suggests that rather than viewing your company as a member of an industry, it should be viewed as part of the business ecosystem. While in the first example, individual members compete against all other members, the ecosystem approach exists to address customer needs by co-evolving capabilities around innovation.
Notably, competition is not between rival companies but rival ecosystems. Turf wars break out where rival ecosystems are closely matched. While one company/ecosystem may eventually dominate the other, a truce or compromise is far more likely as further efforts harvest increasingly diminishing returns. Moore suggests visualizing the border of a hardwood forest against grassland to better understand how two different ecosystems co-exist.
A new product or business enters into either the hardwood forest or grassland ecosystem. It is unlikely to fit or thrive in both. Leadership, geography, funding, technology, regulatory, and a myriad of other details are in play as the product or business launches. As the product or business settles into the biotech business ecosystem, symbiotic relationships are formed with other members of the system, from finance to recruiters.
Argonaut chose to formalize its ecosystem, as contract manufacturing is often only one part of the solution for our customers.
We work with partners we trust- ones where Argonaut itself may have been the customer.
The Argonaut Ecosystem includes:
- Venture capitalists
- Packaging experts
- Assay developers
- Instrument designers and prototypers
Our ecosystem is aligned for rapid handoffs and while no one is required to engage with the Argonaut Ecosystem, many will find it helpful as it gets products and services faster to market.
We invite you into the Argonaut Ecosystem.