5 tips for (bio)tech startups by Vanessa Vankerckhoven

Vanessa is co-founder and CEO of Idevax. Idevax is a medical device company based in Antwerp, founded in December 2020. Idevax develops, produces, and commercializes innovative drug delivery medical devices.

Vanessa shares her 5 tips for (bio)tech startups here:

1. Have a detailed business plan

Writing a comprehensive business plan forces you to think deeply about your business. Who are your customers? How will you generate sales? How much funding do you truly need? How will you build the right team? Documenting these steps adds clarity and depth to your vision. For us, it made a significant difference with investors. A well-thought-out plan builds confidence—they see that we’ve considered every aspect and know what we’re doing. Putting it on paper was invaluable.

2. Your pitch deck is never final

A great presentation is key to successful fundraising, but it’s never really finished. We’ve revised our pitch deck over 118 times, improving it after every pitch. Keep your pitch short yet comprehensive — I can cover everything in just 10 minutes: the team, market, product, and more. If you receive repeated questions on a certain slide, it’s a sign to make it clearer. Constant refinement is what makes your pitch stronger each time.

3. Master your financial plan

You need to know your financial plan inside and out, especially when speaking with investors who are experts in finance. By fully understanding our financials, I feel confident during these conversations, explaining every figure and calculation in detail. This didn’t happen overnight—it took practice and experience. But mastering your numbers is crucial to building a strong case for investors.

4. Don't underestimate marketing

I used to underestimate the power of marketing. Coming from a scientific background, I was skeptical of flashy branding and fancy brochures. Now, I see that real marketing is strategic and essential. It’s about deeply understanding your market and crafting the right messaging. Every flyer or website isn’t just about aesthetics—it’s a carefully designed tool that addresses the specific needs of your target audience.

5. Use a CRM from day one

Implementing a CRM system from day one is crucial. It allows you to track every interaction with leads and customers, which is invaluable. When I call a potential client, I can immediately review my notes from our last conversation. Plus, your whole team can stay aligned with up-to-date contact history. Finally, in industries where startups are often acquired by larger players, a well-maintained CRM significantly boosts your company’s value during acquisition.

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