William Canestaro, managing director of Washington Research Foundation and WRF Capital, has helped oversee the portfolios of 40 startups. He recently shared his expertise and advice on launching a startup in an online talk, “The first ten calls every life science entrepreneur should make,” hosted by Life Science Washington.
Canestaro suggests asking the right questions from the beginning, having a good partner and support system, working with other successful entrepreneurs, a regulatory consultant, and intellectual property and corporate lawyers as key advice to launching a startup. He also advised keeping in mind the consumer audience, hiring a financial planner and the importance of critically assessing if the startup is a fit for VC funding.
“The best idea is not built completely in your head,” said Canestaro. “It’s built through iteration, and conversation, and getting feedback from people who have done this a lot and know a lot more.”