Medicon Village

More than halfway through our 10XHealth accelerator programme

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Medicon Village

Last Tuesday, we and SmiLe Venture Hub organised Module 6 of our accelerator programme 10XHealth. C-level leaders from our seven participating companies joined us to explore the theme ”Sustainability and storytelling for impact”, expertly guided by Louise Hård af Segerstad from Albaeco, and Giuseppe Marzio from Chiaro.

In this module, participants learn how to master the art of storytelling for investors and stakeholders, turning complex science and technology into a compelling narrative about their product or service, company and vision.

This module’s key takeaways:

  • How sustainability can move beyond a buzz word to create true business value for a life science scaleup.
  • How life science scaleups should navigate the regulatory landscape in sustainability, with particular focus on CSRD.
  • How to build your brand and work with communication to various stakeholders by learning the principles of storytelling.

Here are some key insights from the participating experts following Module 6 on the main challenges scale-ups face in their areas of expertise, and how to tackle them:

Insights from Giuseppe Marzio:

  1. A story is bigger than a pitch. For a growth-stage company, the story is not just for fundraising. It sits at the heart of everything: fundraising, dealmaking, recruiting, product development, marketing, partnerships. The story aligns decisions and gives meaning to growth.
  2. The CEO remains the chief storyteller. As a company grows, its communications and marketing budgets increase. Teams expand. Agencies come in. But the CEO still owns the company’s story. In fact, their role as chief storyteller becomes even more important as the organization scales.
  3. A story is not your history. You may have achieved a lot: revenue, milestones, exits. But results are history. A story is not a list of achievements. A story is about the future you are building and why it matters.

Insights from Louise Hård af Segerstad:

  1. The challenge to change a system built on cheap fossil fuels and fossil fuel derived chemicals and plastics, where alternatives is too costly for SMEs to push through. Solution: network with peers, with your supply chain and build the joint vision of a life-science sector that is building both planetary and human health.
  2. The challenge to innovate in a tightly regulated system, where processes for approval takes years. Solution: network and find organisations (like Medicon Village) to influence policy and innovation funds.
  3. Regulations and demands on reporting that risk put the focus on measurable metrics (increasing precision) rather than getting the system to work in the right direction (increasing accuracy). Solution: be aware of and communicate clearly the big picture and your systemic impact, to your stakeholders. Report on numbers that you are required to. Look at the Essential Environmental Impact Varibles from Stockholm Resilience Centre.

Over 10 months, these scale-ups are taking part in a tailor-made journey designed to accelerate life science innovation. The programme is powered by Medicon Village Innovation and SmiLe Venture Hub, and co-financed by the European Regional Development Fund.

More on 10XHealth at: https://10xhealth.se