Partnering activity for BIO 2014 is riding at a record-breaking 4,000+ meeting requests eight weeks before the conference. The previous record was set at BIO 2012, with 770 partnering requests at the same timeframe. That’s an increase of 420%. While we’re experts at predicting partnering stats, these numbers have caught us by surprise. So what does this mean for you?
ONE: This year you need to start partnering early to increase the chance that your meeting requests will be accepted and scheduled. Meeting request evaluation and acceptance usually starts 3 to 4 weeks before the convention. However, the unusually high partnering activity indicates an earlier start this year. As the number of meeting requests a given company accepts goes up, so does their reluctance to accept more requests. That is human nature. However partnering veterans know that accepted meetings that are requested first are scheduled first by the BIO partnering system. Therefore the earlier you request a meeting, the more likely it is to get accepted and scheduled.
95% of the top dealmakers* are actively partnering in the BIO 2014 partnering system NOW. This is not the year to procrastinate – publish your profile and start sending/accepting meeting requests today. Whether you’re new to BIO partnering or a meeting pro, leverage our videos on Business Forum Partnering Success, Exhibitor Partnering Success and the Partnering System Tutorial to optimize your partnering at BIO.
TWO: There is a strong market for biotech partnering and outsourcing. Companies and organizations are more interested than ever in collaborating for success. Recent deal and M&A activity reflect this (for a great overview of recent deal activity, join BIO and Thomson Reuters Recap for our co-hosted webinar, “Who are the buyers and what are they buying?” taking place on May 13th and May 14th)
THREE: Novel forms of collaboration are on the rise. For example, academia, industry and VCs are exploring new paradigms in commercializing early-stage projects (join us for our upcoming live-web panel, “The Intersection of Academic and Industry” on May 8th, to hear Stanford, Pfizer and other leaders discuss this topic)
If you missed it, check out my previous post Making the Most of Partnering at BIO2014!
*based on dealmaking activity from 2011-2013, as reported and analyzed by Thomson Reuters Recap