Author(s): Karl Dakin
Affiliation: Dakin Capital Services LLC, 7148 S. Andes Circle, Centennial, CO 80016, USA.
There is a growing trend amongst entrepreneurs that they will not start a business unless they first raise cash from a banker, an angel investor or a venture capitalist. The ability to raise capital has become a litmus test as to the viability of a business opportunity. However, the vast majority of business opportunities will not meet the lending or investment criteria of these capital sources. Even if the criteria can be met, the costs of obtaining capital from these sources may be too high. This paper sets forth an alternative approach that may generate multiple sources of capital at lower costs of capital. The approach obtains capital in the form of assets from strategic partners or stakeholders who will benefit from the success of the new business. To successfully implement this approach, a founder of a new business must understand which capital assets are critical to a successful business launch and must understand the motivation of investor candidates to make those assets available to the new business.
2. Outcomes Rather than Outputs: Collaborative Closed-Loop Design and Commercialization
Author(s): Tilak Dutta and Geoffrey Roy Fernie
Affiliation: Toronto Rehabilitation Institute, 550 University Avenue, Toronto, Ontario, M5G 2A2, Canada.
This paper outlines the Toronto Rehabilitation Institute Technology Team’s vision for translational research. The objective of the Technology Team is to help people age successfully by providing tools to manage the disabilities that come with aging. To facilitate this translational research and realizing real world benefits, the Technology Team has developed a collaborative closed-loop design process. We describe the five strategies that make up our approach. The strategies are: 1) Having a collaborative team of clinicians, technical experts, researchers and students; 2) Maintaining prototyping facilities on-site; 3) Using simulators to quickly, safely, and repeatably test ideas with the target population; 4) Building relationships with stakeholders; 5) Careful documentation in preparation of regulatory approvals. Together these strategies have helped our team focus on translating research findings into practical outcomes as the ultimate goal of our research. These outcomes include changes to policy and clinical practice as well as the creation of new products, in addition to the traditional focus of academic research groups on outputs such as publications and grants.