Opportunities for investors and innovators in the API-powered Life Sciences Summit

Paramita Chaudhuri Basu, director of programs and ecosystem development at API.

The Startup TNT Life Sciences Summit is a key pillar of our work and wouldn’t be possible without our partners at API. And as we find ourselves in the midst of the 2024 Sector Summit season, we caught up with Paramita Chaudhuri Basu, API’s director of programs and ecosystem development, to discuss the Summit’s origins, the importance of empowering life sciences innovators, and what the Summit’s legacy will be.

TNT: What was the catalyst for the first Life Sciences Summit?

Paramita (PCP): Andrew MacIsaac, API’s CEO, identified the need at the 2021 TNT Investment Summit. The path-to-market for life sciences companies is longer than for any other technology, as the industry is highly regulated. A Life Sciences Summit would even the playing field for life sciences companies to get investments and grow.

TNT: How does your partnership with Startup TNT help further API’s mission?

PCP: Startup TNT has been an amazing partner for API. We believe in leveraging the strengths in our community and TNT has been changing the investment landscape in Alberta. A partnership with Startup TNT is a huge win for the life sciences entrepreneurial ecosystem across the prairies.

TNT: What’s the biggest misconception around investing in early-stage life sciences startups?

PCP: One of the biggest misconceptions is the amount of time it takes and the amount of funding it takes to bring a life sciences product to market. The sector is research intensive, and heavily regulated. The products directly impact patients, and the stringent health regulations ensure they are safe and effective.

TNT: Who is an ideal investor for this startup category? Can anyone do it?

PCP: An ideal investor for this category is someone who is looking for a huge return, but is willing to give the time to reap the benefits of their investment. They want to support commercialization of academically generated IP, and believe strongly in the potential in the product and the expertise of the team.

TNT: For medical professionals who want to angel invest, how do you think their knowledge and background impact their Summit experience?

PCP: Medical professionals have the knowledge to do the academic due diligence on the technology. They also have the opportunity to advise others on the market potential. Investing with Startup TNT allows them to enjoy the experience, because they know the business due diligence is in good hands.

TNT: Why is empowering seed-stage life sciences startups to raise capital important for the future of the sector – and for Canada as a whole?

PCP: In one word - cascade. More investments at an early stage lead to more company creation, more seasoned entrepreneurs to mentor fledgling founders, more IP generated as industry pull leads to academic push, more successful exits, more ROI, which leads to even more investment. 

TNT: What role does the Life Sciences Summit play in cultivating community among innovators, investors, and front-line professionals?

PCP: The Life Sciences Summit is a great way to build the ecosystem by showcasing innovative companies, building excitement for investments in the summit, educating the community about the health regulations for life sciences companies, engaging in conversations with other entrepreneurs, etc. 

TNT: A decade from now, what will investors and investors remember about this year’s Life Sciences Summit? What will Summit’s legacy be?

PCP: A decade from now, there will be a successful exit for the winner of this year’s Life Sciences Summit. That exit will trigger the winner to invest in 10 more early stage life sciences companies. The Summit’s legacy will be a mini Silicon Valley environment where more investment happens in life sciences.

TNT: How can more investors and startups get involved today?

PCP: Investors who are considering investing should engage with the sessions to educate themselves and connect with other investors and startups in the community; startups who are thinking of raising capital should network with investors and peers to build relationships and identify resources.

Register Now: Top 20 Pitch Night

The Life Sciences Top 20 Companies were just announced. The Top 20 Pitch Night is Thursday, February 8, 2024. Get your free ticket to watch online.