Tackling startup challenges: how mentors can help

by Kristina Liebute

You run an innovative healthcare startup that created a fantastic product (or are about to create one) that is likely to change people’s lives. Ideally, you’d like to launch the product as soon as possible, but multiple questions arise: Who would invest in this? How to sell it? How to promote it?

Starting and running a brand new company is notoriously challenging. Often founders dedicate all their time to developing their product, forgetting to account for the business side of things.

Nothing wrong with that. It is humanly impossible to know and do everything yourself. But sometimes even a short conversation with someone who will look at your company with a fresh pair of eyes can be (startup) life-changing.

This is where startup mentoring comes in. Mentors are professionals with experience and skill set enabling them to pinpoint and help overcome some of the most common startup obstacles:

  • How to find investors, how to talk to them.
  • Help assess your business model, see if you’re on the right track, help you get unstuck.
  • Advise you on how best to go about commercialising your product: how to sell, promote it, ship it to market. The best product won’t sell if no one is talking about it.
  • Help you validate your product/idea. Startup founders often fall into confirmation bias, trying to find evidence why their idea is valid. An outsider can help you conduct a more thorough research, weighing in on whether you’re heading in the right direction.

Where to find startup mentors?

Join cLAB Ventures’ network. Our goal is to help startups thrive, specifically – startups in the oncology sphere. We are a qualified network that connects innovators (such as your startup) with organisations who are willing to innovate or seeking to invest in projects which can create a world where cancer is a curable disease.

Our mentors are consultants, entrepreneurs, investors – highly experienced international professionals navigating the startup ecosystem.

Written by Kristina Liebute

cLAB Ventures - July 23, 2021