06 Jul THE IDEAL EXIT: FROM COO TO BOARD CHAIR
Ira Weiss is the co-founder of BioDtech and now serves as the company’s Board Member.
What inspired you to start your business?
We started at Scripps Clinic on the research side of things. We were a part of their startup in San Diego. One of the initial scientists approached me in 2003 wanting to do another bio tech startup. Their goal, was to save 50,000 Americans that were experiencing bacterial based diseases. They wanted us to lead the testing for endotoxins in order to develop a therapeutic drug, then license the technology. We decided not to go that route, and instead pursued the septic shock arena. We ended up pursuing the research side in order to create a 3rd generation of synthetic peptide. Along the way, we developed our own technology, an enhancing booster which provided better quantifiable results for pharma companies during their testing process.
We started in Nashville at NBIC and it still holds a special place in our company’s success. We are now located in Birmingham, AL.
Why was NBIC been the best option for your business?
NBIC offers a great incubation program and has really not received the recognition it truly deserves. The incubation process really gives companies a step up to being successful. Being a part of NBIC gave us exposure to various components of how a business runs successfully, from mentorship to finding the right resources needed for your business success.
You exited your company and are now a board member, how did you handle the transition?
I had the opportunity to help start and grow a 35 million dollar business in San Diego and then launch BioDtech. Throughout my experiences, I gained a vast knowledge and resource base that I did not want to keep to myself. I wanted to help others, as I believe giving back is only the right thing to do. Once I was able to create a successful exit from BioDtech as COO and become a board member, I realized this was an ideal time to pursue creating my own advisory services.
You are now pursuing creating your own accelerator program, tell us about this new journey?
After joining the board, I created my advisory program to help entrepreneurs address several problems, including one of the biggest – having an idea but then needing the money to perfect it. I decided to create a way for investors to have a 360 degree look at a potential venture from pre-seed, seed to the first round of capital. We also help them find resources and develop a successful pitch deck.