by Damien | Jan 8, 2019 | EDC Blog
The word “budget” is also much too associated with negative meanings for startups, entrepreneurs, or innovative discoveries. It doesn’t take much experience to know that these exploratory ventures usually entail a large deal of “waste” from the necessary trial and error required to succeed. This strategy, however, tends to be a nightmare for accounting or financial administrators whose job is to create balanced books and sustainable practices for the business/institutes.
by Damien | Feb 15, 2016 | EDC Blog, Management
Budgets can help you understand fixed costs, like salaries and maintenance contracts. However, everyone in science knows that the variable costs associated with research are as predictable as the hypothesis itself. Therefore, to understand what those variables are, and to predict them, requires collecting the financial data associated with the science. It requires us to be able to separate those costs relative to the projects and operations.
by Damien | Aug 24, 2015 | EDC Blog
Are biotech startups that much different from academic startups? How do business investors know which ones to invest in? What do academics know about business? It’s 2015, and biotech has been through a roller coaster boom since the early 1980s. Research has shown that...
by Damien | Mar 9, 2015 | EDC Blog, Management
“Damien, you’re selfish!” said my old mentor. “For what?!” I was shocked. “You’re afraid to help the neighboring lab because what they might think of you? That’s selfish!” That was an eye opener. I was more focused on how I felt rather than focusing on how I could...
by Damien | Feb 2, 2015 | EDC Blog
What would move you move out of your comfort zone? In 2007, I heard a talk by Eric Lander, president and founder of the Broad Institute in Cambridge, Massachusetts. At the time, I didn’t realize how much that talk would influence my career. Afterwards I ended up...
