On January 30 (Fri.) and 31 (Sat.), the "NQ Version COO Human Resource Development Program: 2nd Intensive Session" was held at Qrossover Lounge Yume on the 2nd floor of Nakanoshima Qross.
This program is part of the "NQ Global Startup Gateway (Nakanoshima Qross Global Startup Creation and Globalization Promotion Project)" sponsored by the Osaka Prefectural Government. The program is based on the "COO (Chief Operating Officer) Human Resource Development Program" for U.S. startups, and is implemented as the "Nakanoshima Qross Version COO Human Resource Development Program" for startups in Japan.
Twenty participants with diverse backgrounds, including startups, business companies, venture capitalists, and support organizations, were selected to participate in this program. In this intensive session, through lectures and dialogues over two days, participants deepened their learning about the concept of commercialization in drug discovery startups, the role required of COOs, and team and organization building based on trust.
Day 3: Friday, January 30
In the morning, Yoshihide Ishii, President and CEO of Alloy Therapeutics K.K., took the stage for a series of three sessions: "Session 1: Warming Up," "Session 2: Gaining Trust," and "Session 3: Understanding Investors. Based on his own career, Mr. Ishii explained the importance of business design based on TPP (Target Product Profile), issues that R&D startups tend to face, and how investors evaluate companies and teams. The session was a time for participants to deepen their understanding of the role required of a COO and how to build a company to gain trust, while also engaging in discussion among themselves.
In the following "Presentation with Lunch (12:00-13:20)," each team gave a presentation over lunch. The presentations were about themes related to the medical and drug discovery fields, which were reviewed and prepared in a short period of time, providing an opportunity to share cross-disciplinary perspectives and diverse approaches.
Based on his more than 30 years of experience in drug discovery and development, Hiroshi Nagabukuro, CEO of SFG Sciences K.K., shared practical knowledge about the differences between the drug discovery environment in Japan and the U.S., as well as examples of new drug development projects he has been involved in. He shared practical knowledge on the importance of hypothesis setting, team building, and human resources in drug discovery.
In the following Guest Speaker 2, "The Present State of Drug Discovery Platforms at the Core of Domestic Pharmaceutical Industry," Mr. Shunichi Kashida, President and CEO of Ixforest Therapeutics, Inc. took the stage to introduce his company's efforts in RNA-targeted small molecule drug discovery and its unique drug discovery platform. He introduced the company's efforts in small molecule drug discovery targeting RNA and its unique drug discovery platform. He presented his strategy to combine technological strength and business sustainability, which was highly thought-provoking for the participants.
Guest Speaker 3: "Biotech Evolves with Phases" featured Ryosuke Gonotsubo, Co-founder of Shinobi Therapeutics, Inc. and Tadashi Ochi, VP of Shinobi Therapeutics, Inc. Based on the transition of the business from its early days to its global expansion, Mr. Gonotsubo spoke about the personnel and organization required for each phase, as well as the realities of business operations across Japan and the U.S.
The final panel discussion, "Winning on the Global Stage," featured Mr. Nagabukuro, Mr. Kashida, Mr. Gonotsubo, and Mr. Ochi, with Mr. Ishii serving as moderator. Based on their own experiences, the speakers exchanged opinions on the importance of human resources, organization, and partnerships in global expansion, and shared their perspectives on what is required for startups to survive in the world.
At the end of the first day, a dinner session was held, where speakers and students mingled and exchanged opinions with each other.
Day 4: Saturday, January 31
On the second day, participants deepened their learning about commercialization and team formation practices in drug discovery startups.
In the review of DAY 3, the importance of "TPP (Target Product Profile)," which links academic research and industrial logic, was shared once again, and it was indicated that the key to business promotion in drug discovery ventures is to promote information gathering, team formation, and network building in an integrated manner with TPP as the axis. The importance of "TPP (Target Product Profile)" was reiterated.
In the following session, the participants discussed how to build a trusted peer and management team (C-suite), and the importance of an attitude of evolving the team according to phases, rather than seeking a perfect system from the beginning. It was also emphasized that an active, rather than passive, approach to industry participants and investors is the key to building trust.
The session also addressed "soft skills," which are essential for raising funds and commercializing a business, and shared specific examples of how to design a story that investors can relate to and how to communicate in order to gain their trust. The message that the essence of soft skills is "the ability to design trust" strongly impressed the participants.
During the project team time in the latter half of the session, each team looked ahead to the Series A phase, selecting target diseases and modalities, and discussing ideal sitting groups and approaches. The final interview session provided an opportunity to objectively reflect on one's own TPP and team composition, and to question one's resolve to commit to the project as COO.
Through DAY 4, participants were able to reaffirm the role of the COO in a drug discovery startup as a person who not only designs strategies but also keeps "people, trust, and execution" moving forward.
Through this intensive session, participants deepened their understanding of how to move their projects forward and build trust as COOs in the highly uncertain environment surrounding drug discovery startups. From now on, based on the learnings gained from this program, each team will take their projects into concrete actions and challenge the next phase of the project.