#Partnering Tips for Next Week’s Big Event

The One-on-One Compass

We hope everyone is looking forward to BIO International Convention next week! We wanted to put together a quick list of things to remember and ways to get your questions answered, plus some helpful advice from a Partnering veteran. Read on!

Logistical Partnering Tips

  • You will receive an updated meeting schedule via email each night of the conference beginning on Sunday, June 17th. Please be sure to print a schedule each morning (we have printing stations!).
  • Need to reschedule a meeting? The best way to have this handled is to visit the Partnering Desks. (There’s the main one in the Business Forum, plus satellite desks throughout the Exhibit Hall.) The reschedule link will also remain live on the Partnering site, if needed.
  • Computer stations will be available to review company profiles, but we’re also handing out spiffy new USBs. Be on the lookout for those!
  • The telephone number for the main partnering desk is (617) 954-3961. We’ll also be onsite, of course.
  • Click here for the company presentation schedule. These presentations, while a part of the Business Forum program, are open to ALL Convention attendees.
  • Lost something within the Business Forum? Check the lost and found box at the main Partnering Desk.
  • There will be charging stations in the Business Forum.
  • Follow us on Twitter for updates! @bio1x1. You can also connect with others with the hashtag #BIO2012.

The Meat & Potatoes

We spoke to Richard Montagna, Senior Vice President for Corporate Business Development & Scientific Affairs at Rheonix. His company is both participating in Partnering, and a Presenting Company at the event. See his advice below, and be sure to see his presentation, Wednesday, 2:45pm in the Bruins Room (105).

What are your top 3 tips for participating in One-on-One Partnering?

Tip One: We have found that preparation is the most important aspect of successful One-on-One Partnering. We find out which companies are open to meetings and approach them with an invitation tailored for their specific area(s) of interest.

Tip Two: We make sure that we have a brief and succinct presentation to provide, limited to no more than 10 minutes. This allows the partnering company 10 minutes to provide information to us, and then 10 minutes for discussion.

Tip Three: We respect people’s requests and rapidly reply to them, even if we do not intend to meet. We do wish others would do the same, because it’s important to know how many slots are available for meeting.

BIO 1×1 Says: Never assume it’s too late to respond to someone! You should respond to requests this weekend, as there is still plenty of activity in the system.

Do you have any advice for people who may be new to the event and Partnering in general?

Once the actual Partnering starts, be considerate of people’s time. It’s important to not only show up at the designated area on time, but also leave the area quickly so that the next group of Partnering people can get in to the space. Learn to be concise and don’t drone on with a lot of “blah, blah, blah.”  It’s important to quickly and convincingly convey the information that the company needs.

Be prepared to follow up, as needed.  We’ve found that subsequent meetings over coffee, etc., have proven useful in the past.

Finally, I would also suggest that you remain open to unexpected opportunities. During last year’s meetings, we extended an invitation to a company, and although we did not enter into a relationship that was originally proposed, another unrelated opportunity came up that we have pursued.

What’s your advice for post-con and follow-up? Do you have any strategies you’d like to share?

We follow up with everyone, whether or not a “positive” outcome was achieved. For those meetings that didn’t lead anywhere, we simply email a thank you and provide contact information should programs/interests/etc. change in the future.

For those that expressed an interest in going forward, we provide whatever requested information was required. If additional information might require an NDA, we make arrangements during the partnering meeting to determine who should send their version of the agreement.

Either way, we tend to be brief and succinct in our follow-up.

Any additional comments or thoughts?

Have fun!  It’s powerful to meet a lot of people in a short period of time. This will be our fourth year in a row and have found it to be an extremely efficient and productive manner to get our technology before a broad spectrum of companies.

Thanks again to Richard for his time, and we wish everyone a wonderful event. Happy Partnering!

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