Insider recently sat down with Noubar Afeyan, the billionaire entrepreneur who founded and launched the Cambridge, Massachusetts, venture-creation firm in 2000. He outlined Flagship's four-step process to build all of its companies, including Moderna.Flagship's first phase is called exploration and happens about 50 to 100 times each year.
This inevitably results in bad ideas, Afeyan said. Those half-baked thoughts are put through a Darwinian-like process, he added. Experts explain why the idea isn't good or won't work. Flagship's team considers how to address those objections to move forward. Protocompanies operate within Flagship's labs and are typically funded with $1 million or $2 million. That lasts somewhere from nine months to a year with a team of four or five people. At the third phase, ideas start to resemble an actual business. The"NewCo" phase is marked by doing more experiments and starting to file patents.
Source: News Formal (newsformal.com)
nice
Does it have anything to do with collecting exorbitant rents from tax funded government organizations like the NIH?
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