Show-stopper ?

There were much excitements and participations among the group members who were diverse in backgrounds, experiences, roles, functions and capabilities but nevertheless shared a common platform in desiring  to advance Biologics, which is in its embryonic stage, in Malaysia for the local and export markets.

The dynamic and interactive group was looking at catalysts and solutions, eliminating negative barriers and concepts in order to leverage on the positives and working with enablers in accelerating the implementation of the Project. The end point of the mini-lab was to have Score Card and KPIs to follow through.

There was an individual who stood up prominently with full of passion, repeatedly said, when there were obstructions that seemingly hinder the Project, said "if it is not a "show stopper", the project must go on".

To me the signal sent was filled with passion, conviction and commitment. The statement encouraged many and the group continued with their support in overcoming the challenges which were the "non show stoppers" with workable proposals. From statistics gathered over the years, many Projects failed due to poor execution and not due to poor planning where the executioners lack understanding, passion, conviction and commitment for the projects.

Understanding the business environment, the business flow and trending, product technical know-how, human talent, government regulatory requirements, sources for technical expertise and cell lines, manufacturing pathways, distribution value chain, commercial demand and constraints etc were crucial and important. All these, as the discussions went on, the group realised could be acquired with optimal monetary funding.

Thus, what stood up as a "show stopper" was monetary funding.

For many entrepreneurs, many great ideas with hugh potential and attractive financial returns did not fly, not for lack of project feasibility and effort but inability to get funding from financial institutions, venture capitalists or governmental funding. These funding institutions lack understanding of the healthcare sector where there is an incubation period due to product R&Ds, product trials and registrations, manufacturing before commercialisation.

This incubation period, could stretch from 1-2 years or more, will need continuous cash flow and thus financial support. The first dollar would flow in after commercialisation, which could take another year. Let not money be a "show stopper" as great projects would not be able to see the day. Thus entrepreneurs and funders should structure loans that are friendly to the entrepreneurs for a win-win partnership.

The desire to create and enter into the Biologic space is real and the journey just got started. Stakeholders and enablers (including the Government and Financing Institutions) must come together in order to reach the end-point soonest possible.

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