Gearing up for growth: Updates from the 10xHealth scaleup program
The 10xHealth scaleup program is now in full swing. The life science scaleup program, developed by SmiLe Incubator and Medicon Village with partial funding from the European Regional Development Fund, was launched in January 2024 and is tailored to the specific needs of innovative scaleups in life science in southern Sweden (Skåne and Blekinge), including areas such as business acumen, financing, internationalisation, and effective leadership.
The one-year program consists of nine modules, each comprising a full day of lectures and workshops at Medicon Village, followed by individually tailored follow-ups with participating companies. Modules are led by experts in their respective fields, with support from SmiLe Incubator and Medicon Village Innovation’s experienced staff and coaches.
The program commenced in January with an intensive 1.5-day session led by Anna Philipson from Good Accelerator, focusing on the intricate dynamics of scaling a business. Topics covered during this session included navigating leadership challenges amidst rapid growth, developing agile strategic frameworks, fostering a high-performance team culture, and translating strategic vision into actionable plans.
In February, the journey continued with Professor Thomas Kalling from Lund University, who delved deep into strategic frameworks, business acumen, and governance structures, providing invaluable insights to our participating companies’ management teams.
Most recently, on 2 April, Associate Professor Anna Brattström from Lund University led an insightful module focused on organisational dynamics crucial for sustainable growth. Through an exploration of frameworks and tools, participants gained valuable insights into optimising people, processes, and organisational structures. Anna emphasised the importance of navigating the delicate balance between exploration and exploitation phases of a company’s evolution, as well as the transition from a science-focused to a business-centric approach.
Furthermore, Anna highlighted the iterative nature of innovation, dispelling the myth of the ”eureka moment” and emphasising the pivotal role of collaborative teamwork in driving breakthroughs. This underscores the point that success in the life sciences sector is a collective endeavour, requiring the concerted efforts of high-performing teams rather than individual genius.
“For many science-based startups, growth implies an identity and cultural transition. From being a small, science-based team exploring new technology – to becoming an efficient organisational machinery that can effectively commercialise that technology. A common mistake is to underestimate the complexity of those transitions, as well as the implications they can have for communication and conflicts in the team. To proactively prepare the team and the organisation for growth is a good investment and taking part in a program such as 10xHealth can be a good start,” says Anna.
The next module will be held in late April by Eversana, and will focus on commercialisation, internationalisation, and market expansion strategies.
For more information on 10xHealth, please visit: https://10xhealth.se/