Interview with Dennis Ford, Founder & CEO of Life Science Nation (LSN) By Claire Jeong, CCO, VP of Investor Research, Asia BD, LSN
 Dennis Ford |
|
 Claire Jeong |
In the high-stakes world of fundraising, competition is fierce, and success demands more than just a good idea—it requires strategy, persistence, and grit. At Life Science Nation (LSN), participant feedback helps us fine-tune our events to serve their needs better. Recently, concerns were raised about the fairness of the Innovator’s Pitch Challenge (IPC) at RESI Boston. In this forum, companies pitch to a panel of investor judges and audience, with some alleging that participants may have “gamed the system.” These observations point to a larger conversation about business dynamics—where determination often trumps traditional notions of fairness. In this candid interview, LSN’s CEO, Dennis Ford, explores the fine line between integrity, innovation, and the entrepreneurial hustle that drives results in a competitive environment.
Claire Jeong (CJ): What differentiates CEOs who succeed in fundraising from those who struggle, particularly in the context of RESI and the Innovator’s Pitch Challenge?
Dennis Ford (DF): The RESI IPC is a microcosm of the real-world fundraising landscape. Some CEOs adopt a proactive approach, while others wait for investors or licensing partners to approach them. The passive ones tend to wait for things to happen to them, while the proactive CEOs are out there making things happen. Just like in the real world, the ones who seize every opportunity are the ones who tend to succeed.
CJ: What mindset shift do you believe is critical for startup CEOs transitioning from academia to a competitive fundraising environment?
DF: Many startup CEOs, particularly those coming from academia, think that paying an entry fee, being selected to pitch, and setting up a poster is enough. They expect investors to naturally flock to them. However, that’s only a minimal effort. To truly excel at a partnering event like RESI, you need to actively seek out opportunities—engage with everyone who walks by, identify investors, and make sure they know who you are. This transition mirrors the shift from academia to the business world, where you’re no longer a scientist—you’re a salesperson, marketer, and business developer.
CJ: How important is balancing compelling science with a determined business development strategy in the fundraising process?
DF: Striking the right balance is essential. In fact, we’ve seen some of the more aggressive participants in the IPC go as far as asking people for their RESI dollars, getting colleagues to donate theirs, and working the system to gain attention. This is the point of the IPC – getting CEOs to put themselves out there and speak to as many attendees as possible. It gives companies many opportunities to practice their pitch, network, and push CEOs to tell as many people as possible their story. While it might not seem “fair” to some, this aggressive approach mirrors the cutthroat nature of fundraising. CEOs need to understand that they’re no longer just researchers—they’re operating in a startup environment where they need to fight for every dollar, every collaboration, and every opportunity.
CJ: Can you share examples of how startup CEOs who took a more aggressive approach achieved success at RESI or in their broader fundraising efforts?
DF: The CEOs who reframe their mindset and adopt a more aggressive approach are often the ones who succeed. The combination of preparation, hustle, and compelling science gives them a real chance. If a CEO lacks either preparation or hustle, the likelihood of failure increases. That’s why the failure rate in life science startups is so high. The process of translating science into a viable product is hard, and having a team willing to fully commit is even harder. But when you have that combination, you’re much more likely to succeed.
CJ: What advice would you give to CEOs who are hesitant to take an aggressive approach when engaging with investors at events like RESI?
DF: The hesitation is understandable, but this isn’t an environment where waiting around will get you anywhere. If you want to succeed, you have to go after it relentlessly. Yes, the market can be frustrating, and investors can be difficult, but those who adapt and push beyond their comfort zones are the ones who will secure funding. CEOs should view it as a way to practice their elevator pitch and refine their story – speaking to 100 people in the quest to gain RESI cash will help companies refine their pitch a lot more than if they stick to only speaking to people with whom they have scheduled meetings.
CJ: How does participation in the RESI IPC competition reflect the real-world challenges life science startups face in fundraising?
DF: The RESI IPC mirrors the fundraising marketplace perfectly. We’ve run about 50 of these competitions over the last twelve years, and the pattern is always the same—some participants hustle hard, others take a more passive approach, and many learn and improve as they go. What’s interesting is that the startups who win IPC prizes—based on votes from both RESI dollars and judges—tend to be the ones who also succeed outside of the competition. They’ve become guerrilla marketers and street fighters, combining that tenacity with a solid product and milestones. Success in the technology and innovation space has always required that mix of drive and substance, and it always will.
The RESI Innovator’s Pitch Challenge is not just a competition; it’s a testing ground for the broader fundraising landscape. It rewards those who balance science with the hustle, pushing past the perceived limits of fairness to carve out their path in the startup ecosystem. The lesson? If you want to succeed, you must be willing to fight for it—aggressively, intelligently, and relentlessly.
John Qiao
Next Phase Newsletter 