Scispot.io has launched a digital operating platform for biotech SMEs. The company is based in Waterloo and founded by a former biotech researcher, a Silicon Valley techie, and a product leader.
Founding Story
The realization that biotech SMEs are trying to solve some of this century's biggest problems with an antiquated 20th-century approach motivated Scispot’s founders to devise a way to digitally upgrade and revolutionize the industry.
Based on the user research performed by Scispot.io, most biotech startups lack the digital resources and expertise essential to create a custom digital solution for centralizing their data, automating repetitive tasks, and instantly accessing partners. As a result, companies spend 40-50% of their time and resources on redundant administrative work that markedly drives up development costs of life-saving and enhancing products.
"My desire to create Scispot.io and to transform the biotech industry is motivated by my first-hand experience with its inefficiencies as a former biotech researcher, as well as the untimely death of my mother whom I dearly loved and lost way too soon because there was no commercially available drug to treat her," said Guru Singh, Founder & CEO of Scispot.io.
"I believe biotech's inefficiencies can be surmounted if the industry embraces a bold digital transformation; I want to make sure no one dies young simply because the drug they need is not available in the market as a result of outdated methods and practices," added Guru.
Solution
Scispot's digital operating platform is fully configurable and modular to transform a biotech startup into a digital company. It digitizes workflows, automates repetitive tasks, and enables instant connection with partners in one spot. Think of Scispot as an "Airtable with a life science Ph.D."
Scispot uniquely combines the essential features of ELN (Electronic Lab Notebook), LIMS (Lab Information Management System), LES (Lab Execution System), and research marketplaces catered to the needs of biotech SMEs.
Mission & Vision
Scispot.io aims to transform over 10 thousand biotech companies into smart digital biotech™ by 2025 and enable instant connections among them so that they can thrive in networks and bring new life-saving and enhancing products to market faster than ever before. Scispot.io's vision is to democratize biotech by empowering bioentrepreneurs to start and scale biotech companies just like tech companies.
Read the press release here.
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