By Dennis Ford, Founder and CEO of Life Science Nation, Creator of the RESI Conference Series
Partnering conferences offer a dynamic environment where innovators, capital investors, and licensing partners converge to explore collaboration opportunities. Amidst the vibrant panels and workshops, one-on-one meetings, and pitch sessions, it’s essential for participants to approach each interaction strategically. RESI is distinctly unique because there is a 50/50 ratio of buy-side partners and sell-side startups at our events. This is the main differentiator for a RESI versus other partnering events, which will typically be 10-15% buy-side partners to sell-side startups. This is driven by LSN’s investor database, that five full-time staff have been curating for over a decade. The LSN team regularly interacts with the 4000 early-stage investors and licensing partners that are in our network, allowing LSN to leverage these relationships and recruit buy-side partners to judge slots for our pitch competitions and use LSN events to source technology assets for their portfolio requirements.
Partnering Conference Dynamics
Assessing the success of a partnering event can be done with multiple metrics, as there are multiple avenues to achieve your goals. Is the investor interested in a follow-up meeting, and potentially initiating due diligence? Will the investor introduce you to other investors who could be a potential fit for you? Can the investor provide you with valuable advice, even if they don’t invest themselves? Are they a potential fit for future rounds, and initiating the relationship now can help move that forward when you are ready? All of these can be considered a success, even if it doesn’t end with cash in your hand from this specific investor or licensing partner.
Importance of Meeting Metrics
Fit as the Core Metric: Prioritize meetings based on alignment with the company’s stage and product. Quality trumps quantity for meaningful collaboration.
Follow-up Meetings: Success is measured by investor interest in follow-up meetings, indicating engagement and potential for ongoing dialogue.
Interest in NDAs: For intellectual property discussions, investors’ willingness to sign NDAs reflects commitment to exploration and idea value acknowledgment.
Referrals and Network Expansion: Referrals broaden the network, signaling positive reception within the industry.
Engagement Beyond Meetings: Meaningful connections extend beyond formal settings. Investor engagement in networking activities signals potential rapport beyond scheduled interactions.
Technology for Meeting Success: The RESI Conference Series utilizes a sophisticated “matching algorithm,” ensuring strategic connections based on compatibility, not random encounters.
Strategic Thinking for Success
Navigating partnering conference meetings requires strategic thinking. Executives must assess meetings aligning with goals and potential collaboration. Metrics such as fit, interest in follow-ups, NDAs, referrals, and engagement gauge success. Partnering conferences offer a fertile ground for critical partnerships, with success dependent on thoughtful consideration of meeting metrics, contributing to strategic growth in the complex landscape of early-stage financing.
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