Navigating Entrepreneurship as a Woman Founder: Insights From Those Who Have Been There
As the number of women in the life science space continues to grow, women entrepreneurship is something BioBuzz takes pride in promoting and featuring. Women entrepreneurs in the biotech arena have been instrumental in advancing the field by bringing their innovation and diversity of thought to the table. A prime example is Dr. Carolyn Bertozzi, a recent Nobel prize winner in chemistry, professor at Stanford University, and founder of numerous biotech companies who has sparked change through her scientific discoveries and serves as an example and inspiration.
Seasoned pros might make it look easy, but make no mistake – entrepreneurship can be incredibly intimidating and difficult to navigate, especially for women, as they face numerous challenges like underrepresentation, imposter syndrome, and the invisible labor needed to manage their household. Being able to overcome these obstacles is a testament to resilience, and with that we asked two BioHealth Capital Region entrepreneurial veterans to share some advice for women who are beginning their own journeys.
Through her educational and hospital experiences, Sue Carr, President and Founder of CarrTech, was inspired to fill a necessary gap in the biotech industry. After witnessing the challenges of filtering glass from injectable ampoule-based medications, she and her team created The FROG, an all-in-one system that prevents glass shards from remaining in medication administered to patients. Carr saw the need for change and decided to be the one to spearhead it, a testament to her innovation and willingness to take a leap for the betterment of our health system.
In a similar vein, Susan McBee, Co-founder and Partner at McBee Moore and Vanik IP, LLC, also saw a need in the biotech industry and decided to fill it. McBee, along with her partners, curated a team of individuals dedicated to supporting the industry through challenges such as navigating the patent process, trademark preparations, and post-grant proceedings. Her vision of a firm with specialized expertise has provided tech startups and larger companies with the support and legal counsel they need to achieve their goals. Both of these women embody the entrepreneurial spirit as well as the courage to pursue their respective missions.
Conversations surrounding entrepreneurship are often dominated by lofty goals and big dreams, but not many concrete details on the actual process of achieving them. Sue Carr expressed that if she could advise the version of herself that had just started CarrTech, she would say that “Success does not happen overnight. There will be highs and lows but never give up. You must believe in your ‘why’”. Susan McBee echoed these thoughts and highlighted the importance of setting medium and long-term goals to ensure that you remain on track. Creating change and bringing ideas to fruition are no small tasks, and while it can be discouraging when things move slower than anticipated, it’s important to remember that success requires time, patience, and continued motivation.
Starting a business is likely going to present unexpected challenges that you may not know how to tackle. Whether it be building your dream team or receiving adequate funding, many of these choices are going to have a major impact on your business and can feel unachievable at times. A successful business begins with and is sustained by an open mind and a continuous desire to learn. Mistakes are bound to happen, what’s important is that you view them as an opportunity for growth, but, as Susan McBee explained, “if something changes or isn’t working, don’t hesitate to redirect to something else that is more realistic.” Remember to always trust your gut and remain steadfast in your principles, and when something feels wrong, it’s okay to say no.
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Starting a business can feel like a lonely endeavor, as there is no built-in support system, and it is easy to become overwhelmed by the road to success and the hard work needed to get there. Carr and McBee emphasized the importance of creating one’s own support system, both within and outside their business. Not every task is going to be pleasant, nor is every avenue pursued going to be fruitful, but having stability and reassurance provided by friends, family, and colleagues can make these challenges much more endurable.
Both women cited individuals with business experience and their biotech peers as being instrumental members of their team and major contributors to their successes. Additionally, connecting with like-minded individuals and networking with other women in the field can be incredibly beneficial. Woman In Bio (WIB) is one example of a great resource to connect with other women in the ecosystem. Specifically, WIB has dedicated resources for women entrepreneurs and a subgroup for executive women to support them in leadership roles. Getting involved in WIB or another local biotech network can provide you with key connections that will likely help you in achieving your goals, even if it is simply in the form of advice from a more experienced peer.
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Women are acutely aware that while progress has been made in recent years, representation in the life sciences is still not a 50/50 split, making them all the more capable and passionate about filling those gaps. While the road will undoubtedly be tough at times, it is important to remind yourself of your worthwhile goal, lean on your support system, and as McBee said, “make lemonade out of lemons”. Entrepreneurship begins with a vision, or a “why”, as Sue Carr calls it, and centering yourself around that will keep you going.
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Eliana Spiess is BioBuzz’s Editorial Intern. She is currently working towards her BA in Human Biology and English Literature, and her MPH in Epidemology and Biostatistics. Eliana is passionate about increasing scientific literacy in the general population and loves writing about all things science, biotech, and finding one’s niche in those spaces as she works toward finding her own.
