Dinko Valerio for the Scale Lab podcast by Techleap

We wrap up season #2 of The Scale Lab with a special guest – Dinko Valerio, scientist-turned-entrepreneur; co-founder of Leyden Labs & ProQR Therapeutics; founder of Crucell; and startup mentor. In this episode, we discover the secrets of building a successful biotech venture and securing funding within the health sector. To all the healthtech founders out there – tune in for a highly valuable discussion full of founder learnings and advice.

Joe Wilson and Constantijn van Oranje in the Scale Lab podcast studio

You’ve had to hire some pretty senior talent across the different ventures you founded. What did you look for when hiring them?”

00:22:35 – The first couple of years are decisive for your company. I’d say that the decisions you make then are irreversible: the people you choose to surround yourself with, the shareholders you pick, etc. In biotechnology, you need to be the best in order to be meaningful and to get your products recognised worldwide. Hence, you need to hire first-class talent to be able to create such products. The interesting thing is that you only need the first hire to be top-tier because that’s when you set a standard for years to come. So all the next hires will be of a similar level since you’ve got that high benchmark in your team already.

That kind of talent must be scarce. Do you have any tips as to where to find such hires?

00:30:08 – Yeah, that’s a great question. I typically ask entrepreneurs to imagine in their heads who would their dream candidates be. All founders I asked have a clear profile of such an ideal candidate. So then my next question is ‘What are you waiting for’? I personally believe that great talent is not scarce, you just have to know where to look for it.

Capital. You’ve been on the raising side and the venture side. For companies similar to yours, when and how do you advise them to raise funding?

00:32:23 – The story is very simple in the biotech business. When they serve cookies, you eat cookies, and you are not afraid to be diluted. If you’re afraid to be diluted, you’re in the wrong business. In that case, you should start a business that you can actually run and grow yourself. In tech that is possible, but it’s not possible in biotech. The dilution will be massive in any case. It’s better to come with the right expectations. If you negotiate, negotiate till the very end and then raise money. And if you can raise more, do that, don’t settle for less.

Dinko Valerio in the Scale Lab podcast studio

Curious to hear the whole story? Listen to the whole episode now on Spotify, Apple Podcasts, or Anchor.

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Dinko Valerio for the Scale Lab podcast by Techleap

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Joe Wilson and Constantijn van Oranje in the Scale Lab podcast studio

You’ve had to hire some pretty senior talent across the different ventures you founded. What did you look for when hiring them?”

00:22:35 – The first couple of years are decisive for your company. I’d say that the decisions you make then are irreversible: the people you choose to surround yourself with, the shareholders you pick, etc. In biotechnology, you need to be the best in order to be meaningful and to get your products recognised worldwide. Hence, you need to hire first-class talent to be able to create such products. The interesting thing is that you only need the first hire to be top-tier because that’s when you set a standard for years to come. So all the next hires will be of a similar level since you’ve got that high benchmark in your team already.

That kind of talent must be scarce. Do you have any tips as to where to find such hires?

00:30:08 – Yeah, that’s a great question. I typically ask entrepreneurs to imagine in their heads who would their dream candidates be. All founders I asked have a clear profile of such an ideal candidate. So then my next question is ‘What are you waiting for’? I personally believe that great talent is not scarce, you just have to know where to look for it.

Capital. You’ve been on the raising side and the venture side. For companies similar to yours, when and how do you advise them to raise funding?

00:32:23 – The story is very simple in the biotech business. When they serve cookies, you eat cookies, and you are not afraid to be diluted. If you’re afraid to be diluted, you’re in the wrong business. In that case, you should start a business that you can actually run and grow yourself. In tech that is possible, but it’s not possible in biotech. The dilution will be massive in any case. It’s better to come with the right expectations. If you negotiate, negotiate till the very end and then raise money. And if you can raise more, do that, don’t settle for less.

Dinko Valerio in the Scale Lab podcast studio

Curious to hear the whole story? Listen to the whole episode now on Spotify, Apple Podcasts, or Anchor.

Listen now

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