Abstract

How to make your lab-on-a-chip technology investment ready

Erol Harvey, Chief Executive Officer, MiniFAB

After 20 years of incubation, Lab-on-a-chip technologies are ready to realize their potential. Critical to achieving this goal is their ability to attract investment. Traditionally there has been a disproportionate emphasis on prototypes in the quest for investment. On too many occasions this disparate focus has created a vicious cycle of expensive and lengthy failures, leaving exciting technologies and ideas in the 'valley of death'. Understanding user requirements, adopting a design-for-manufacture approach and having a clear idea of what your end-goal looks like can eliminate the dangers of the 'valley of death'. Another crucial strategy is implementing a staged development strategy that segments the project into manageable, investible and technically achievable stages, concentrating on risk-based developments as opposed to agile ones. For the investment community, processes such as these represent a mature and disciplined approach to translating lab-on-a-chip technologies from the bench top, into real-world products that address new commercial opportunities.