Source: GlobeNewswire (MIL-NZ-AU)
Forde, March 16, 2022 (GLOBE NEWSWIRE) — EarlyBirds, an open innovation ecosystem based in Australia that helps Early Adopter organizations network and collaborate with exciting startups, scaleups and mature Innovators across a wide range of technological domains, is encouraging established players in the biotech space to use its platform to find innovative companies that are working on scientific breakthroughs that will define the path forward in the industry. Readers can find out more about the company by heading over to its website at earlybirds.io.
Biotechnology is the confluence of what humans know and understand about biological living organisms along with other scientific disciplines such as chemistry, physics, material sciences, mathematics, and more. Biotechnology has a huge role to play in finding new avenues for research in medicine and improving human health. Beyond fighting diseases and healing people, biotechnology can also impact food production, the fight against climate change, the production of biofuels, and genomics.
Though biotechnology has its benefits, the field as a whole also poses significant challenges that limit the growth potential of companies, even those with already successful products and a war chest worth of reserves to fund the next possible leap forward. It is a field of science that requires highly educated and qualified personnel who have dedicated their lives to understanding a narrow field of study just to make incremental progress that can take years of research to validate.
The spokesperson for EarlyBirds, and its co-founder, Jeff Penrose, comments on the challenges faced by biotechnology juggernauts by saying, “Large biotech firms that have made a difference in the world need to innovate to stay relevant and come up with new solutions to meet the demands in the market. This demand may come from patients who are facing terminal illnesses or a slew of modern lifestyle diseases that were uncommon just a few decades ago. It can also come from companies that are trying to solve pressing problems such as the need for biological energy substitutes to offset the dwindling fossil fuels that will undoubtedly disappear in a generation or two. There are many directions in which you can get pulled into, trying to create products that meet the needs of the current medical, energy, or food processing industries. It is extremely easy to run into a wall and waste lots of money if you don’t have the insight and expertise into the problems that you are trying to solve. One way to solve this discovery and innovation problem is collaborating with existing startups and scaleups that have already built a knowledge base and assimilated the research acumen needed to solve these problems. That is how EarlyBirds can help you make new connections and kickstart your next great biotech research venture.”
The benefit of leveraging the innovations prevalently being worked on in small biotech firms is crystal clear as, according to statistics from The World Bank, small biotech firms are responsible for nearly 70 percent of new drug approvals in the US. Trailblazing biotechnology startups net a return of 9.3 percent on R&D compared to 1.9 percent for multinational pharmaceutical firms, according to a report from Deloitte. The problem to solve, therefore, becomes where and how to find these innovators and how to use their expertise to bolster one’s offerings.
EarlyBirds has created an open innovation ecosystem to solve this exact problem and has been serving technology companies working in domains such as microprocessors, communications, AI, IoT, biotechnology, and more, for several years now. EarlyBirds is the best possible partner for companies and public institutions to identify and source new innovative solutions. EarlyBirds can provide its award-winning global open innovation ecosystem platform and services to define, identify, curate, and engage with relevant startups that are doing cutting-edge work in their domain.
The EarlyBirds platform has over 4 million innovators who are willing to barter their knowledge and research expertise in exchange for investment. The EarlyBirds Explorer program is perfect for businesses that need innovation as a service to supplement existing innovation programs or to conduct innovation projects as required. The EarlyBirds Challenger program is designed to solve one business or technical challenge at a time and to search for relevant innovators that meet the business, technical, commercial, and business risk requirements.
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For more information about EarlyBirds, contact the company here:
EarlyBirds
Mr Kris Poria and Mr Jeff Penrose
+61 401 287 060
support@earlybirds.io
‘FORDE’ SUITE 10, LEVEL 1, 26 FRANCIS FORDE BOULEVARD, FORDE, ACT 2914
– Published by The MIL Network
