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1570802400 - 1570805100
Elgar Concert Hall

Panel: The Collaboration Paradox

This panel will address the mechanics of a successful collaboration; the causes of problems and suggested solutions to maximise success.

Any entrepreneur with a vision may establish a new company, but it takes a collaboration with many people, both internally and externally, to ultimately deliver a successful business.

Within the Life Sciences sector, the sheer complexity of the ecosystem dictates the need for a wide range of multi-disciplinary skills, competencies, and experiences in which the whole is greater than the sum of the parts, and very few organisations can deliver this in isolation.

Typically, the average return on collaboration is four times the initial investment and this ROI results from cost avoidance, cost reductions, business optimisation, accelerated innovation, improved agility, and ultimately better business decisions.

Yet, things do not always go to plan. Joining different cultures can be challenging when philosophies differ and there are times when collaborations just don’t work out. You can lose some control, waste money and time so it’s critical to think through the scenario from all angles.  Simply put, collaboration isn’t always easy.

This panel explores the challenges of collaboration, not in a negative light, but in the spirit of appreciating some of the potential pitfalls in order to make interactions more positive for you in the future.

The panel will cover topics such as:
  • Who is the best partner for you? Big Pharma, another Biotech, CRO or advisory firm?
  • How does your organisation differentiate who is potentially the best-fit before an engagement?
  • Identifying what you want from the relationship, and ensuring collaborative roles are clearly defined
  • Protecting your interests – agreements and the legal angle
  • IP ownership – background and foreground IP considerations and who owns what. Do you have freedom to operate if you need to pivot?
  • What to do when things aren’t going as planned and how to exit the collaboration cleanly if appropriate
  • Establishing productive working practices and maintaining focus, assessing and reviewing progress with a clear delineation of responsibilities to avoid confusion, frustration and dysfunction
  • The importance of clear communication
  • The importance of authenticity, avoiding misrepresentation of skill sets
  • More doing and less talking – shifting the emphasis onto real-time problem solving with others