...aggressive enough to run the company. The main reason I would tend to think this way is that if a CEO is not willing to take at least the standard entrance salary, he/she would either have reasons to doubt his ability, or would be looking to please him co-founders rather than to run a successful business. In terms of the compensation policy being considered for the company, as a venture capitalist I would be very open to having multiple options as opposed to a fixed salary. One must be cognizant of the different backgrounds and situations involving each employee. A fixed salary may paint the picture of “robots” each doing a specified task, while multiple options for compensation illustrates a dynamic workforce. The founding team in place at NanoGene is larger than the average team. They are well rounded and each well-versed in their areas of expertise. This could result in an excellent group dynamic, but it could have negative connotations as well. The largest issue being, none of the backgrounds’ of the founders included any form of business experience. To justify a founding team as large as 5 members, it would seem logical that one of the members be familiar with the business side of things. There is a fine line separating a founder from an early employee. A founder is somebody who has moral ties to the company, who has sacrificed something of his/her own (be it pay or time) to ensure...
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...ROBERTS LINDA A. CYR NanoGene Technologies, Inc. It was Friday, November 9, 2002, and Will Tompkins was both excited and concerned. The 41year-old Biochemistry Ph.D. had quit his job at Eastern Institute of Technology’s Advanced Materials Sciences Lab (AMSL) six months earlier to become CEO of NanoGene Technologies, a life sciences start-up based on nanotechnology. Over the previous six months, he and his four co-founders from AMSL had made tremendous progress in developing the underlying science that would enable the company to attract venture capital funding. Within the past 24 hours, Tompkins had participated in three meetings about issues that might have a dramatic impact on the future success of the business. The first meeting had taken place the day before with Paige Miller, a 1995 Harvard Business School (HBS) graduate who had been doing some consulting for NanoGene, and whom Tompkins was trying to recruit to join the management team. The second had taken place that morning between Tompkins and his four co-founders. He had just finished the third with Susan Stone, a venture capitalist (VC) who Tompkins hoped would become a lead investor for NanoGene’s Series A funding. Tompkins’s co-founders included Don Rupert, the head of AMSL, as well as three fellow scientists from the lab: Mark Masterson, Ravi Rhoota, and Gary Garfield. The five had met that morning to discuss negotiating a compensation package that would entice Miller to join NanoGene as its VP of Operations...
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...Nanogene case: People: Will Tompkins: 41 year old biochemistry PhD had quit his job at Eastern Institute of Technology’s Advanced Materials Science Lab and become CEO of NannoGene Technology. Paige Miller: a 1995 Harvard Business School graduate who had been doing some consulting for NanoGene. She has considerable experience in the life sciences industry as VP of Operations at a successful biotech company. Six year experience in biotech. Don Rupert: the head of AMSL. Mark Masterson: scientist-covered most of the key technology Ravi Rhoota: scientist-covered one key technology Gary Garfield: scientist I agree that the team does not look nice enough if I am the VC. They have too many people are skilled in the same fields. They do not really have anyone who can serve as managing role in this situation. The number of cofounder is not an issue for me. Their experience and skill in business concerns me. Another potential concern I have is too many people would make decision making much harder. Opportunity: This is a great opportunity. Nano technology and genomics are all hot topics. They are developing a technology which is very useful. It can change the diagnosis field and make it much more easier and less expensive. There will be a lot of potential customers out there. Context: Nanotechology and genomics are the future. It would not die down very soon. These two topics will only become hotter and hotter. Especially with the human genome project was completed in 2001...
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...ROBERTS LINDA A. CYR NanoGene Technologies, Inc. It was Friday, November 9, 2002, and Will Tompkins was both excited and concerned. The 41year-old Biochemistry Ph.D. had quit his job at Eastern Institute of Technology’s Advanced Materials Sciences Lab (AMSL) six months earlier to become CEO of NanoGene Technologies, a life sciences start-up based on nanotechnology. Over the previous six months, he and his four co-founders from AMSL had made tremendous progress in developing the underlying science that would enable the company to attract venture capital funding. Within the past 24 hours, Tompkins had participated in three meetings about issues that might have a dramatic impact on the future success of the business. The first meeting had taken place the day before with Paige Miller, a 1995 Harvard Business School (HBS) graduate who had been doing some consulting for NanoGene, and whom Tompkins was trying to recruit to join the management team. The second had taken place that morning between Tompkins and his four co-founders. He had just finished the third with Susan Stone, a venture capitalist (VC) who Tompkins hoped would become a lead investor for NanoGene’s Series A funding. Tompkins’s co-founders included Don Rupert, the head of AMSL, as well as three fellow scientists from the lab: Mark Masterson, Ravi Rhoota, and Gary Garfield. The five had met that morning to discuss negotiating a compensation package that would entice Miller to join NanoGene as its VP of Operations....
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