7 min to read
Update December 2023
How we got here and where we are going
It has been a little over 6 months since I graduated from my PhD program and started working on a startup. I have been providing regular monthly updates to family and friends via email, but now that I am actively using this GitHub blog I would like to shift to posting updates here.
Since this is the first update I will give a quick recap of what we have been doing so far.
How we got here
I graduated with my PhD in physics from Arizona State University in May 2023, studying under my advisor Steve Presse. In Presse Lab we specialize in creating machine learning tools for applications in biophysics. We have been historically foccused on data analysis for single molecule fluorescence microscopy experiments, which was the work I did for my thesis.
For those who do not know, fluorescence microscopy is a type of microscope imaging where fluorescent labels are attached to molecules of interest so that they become clearly visible under a microscope. This is a powerful technique in biology because it allows researchers to see how life works down to single molecule precision. However there are many challenges in analyzing data from these experiments, such as noise and drift, which is why there is a demand for machine learning tools within fluorescence microscopy.
We filled a much needed niche in academia by creating fluorescence microscopy data analysis tools for labs who would then use our tools to make impactful discoveries in biology. We worked with labs from all over the world on a diverse set of experiments. Our work was published in many top journals such as the BioPhysical Journal, PNAS, and Nature. We have several patents. And our lab has been given millions of dollars in grant money from the NIH and NSF. I would say that by all accounts we are a very successful lab.
At the end of my PhD, Steve and I decided that we wanted to take our success out of accademia and into the real world with the hopes that we can continue working on cool science, but have a more direct impact on the world. So we started a company called Saguaro Solutions. The idea seemed simple: we just need to translate our academic success into industry success then we will have a successful company.
The first part of undertaking any project is to learn as much as possible about the problem. We did this by reading startup classics such as Lean Startup, joining ASU startup communities such as Venture Devils, and attending training programs such as NSF I-Corps. Following the advice we got from these sources, we underwent a customer discovery process where we talked to potential customers to learn about their needs and how we could help them.
From our customer discovery interviews we learned two important things: 1) there is enough demand for fluorescence microcopy data analysis tools in industry to have a successful consulting practice, and 2) the fluorescence microscopy data analysis industry is too small to support a scalable software company. It is great news that there is enough demand for a consulting practice, but we ultimately would like to build a company that can scale beyond hourly consulting work. Our current plan is to use consulting as a way to bootstrap our company while we develop a scalable product.
This brings us to today where we are actively pursuing consulting and product development in parallel. Now I will update you on how these two efforts are going.
Consulting
After learning that there is enough demand for consulting work, we started reaching out to potential customers. I am happy to report that we successfully obtained our first client this past month! They are a small startup founded by an ASU professor. We sent out our first invoice last friday, which means were are officially in business!
We have a second promising lead with a large microscope company. If all goes well we may have our second client by the end of the year. We also have a few other leads that we are following up on. So things are looking good so far for our consulting practice.
Additionally, as part of our fluorescence microscopy work, we are reorganizing previous projects developed in the lab into an easy to operate software package. We are working with a developer to create a user interface for this software. The hope is that a unified backend for our Bayesian analysis tools will make it easier for us to provide consulting services. An easy to use application for our clients will also make it easier for us to transition to a product based company in the future. It seems that our MVP for this software will be ready by the end of the year.
Product
While our fluorescence microscopy suite that we are building for our consulting is a product, we believe we will ultimately need to pivot to a new product if we want to scale beyond consulting. After surveying the field in the greater biotech industry, I believe that the ideal product would have a clinical application, as opposed to a product for research labs. So this is the direction we are currently researching.
AI for clinical applications is not entirely new to me or my lab. Throughout my PhD many of the research projects that we were exposed to were clinical in nature. Ironically, I historically avoided these projects because I was concerned about the hurdles of navigating the FDA approval process. However, after talking to many people in biotech about their experience, I now see the FDA process as almost a blessing due to its linear nature with measureable milestones.
Through networking events I discovered an amazing biotech community called Nucleate. Nucleate has an activator program where inventors are paired with clinical and business professionals in teams that work together to bring a product to market. We are currently in the interview stage of the activator program, where we have already met many great people. I think that this is a great opportunity for us to learn more about the clinical and business side of biotech to help us with our product pivot.
Additionally I have started reading textbooks on the business side of biotech to get a feel for how to bring a product to market. In particular I am reading through Biodesign, which in the first 10 pages has already presented a plethora of new ideas for me to think about. For now I believe that educating myself on the field is the best way to make progress towards our product pivot.
Focus for the next month
Historically I liked to end these updates by selecting three focus areas for the next month. I will list these here:
1) We need to get more consulting contracts. We have been successful in finding our first few consulting leads within our network, but we are getting to a point where we need to reach beyond our network to find new leads. I used LinkedIn to do a majority of our customer discovery interviews, so I would like to get back into using LinkedIn for lead generation. 2) We need to finalize the MVP for our fluorescence microscopy software. This has been in the works for a while now, due to difficulties in solidifying the application idea and finding developers, but now we finally are almost at a point where we can release an MVP. I would like to finish this by the end of the month so we can start using it for our consulting. 3) We need to continue researching clinical applications for our product pivot. I don’t want to set a specific goal for this other than to continue reading and talking to people in the field. Next month I hope we can have a more specific plan.
Where we are at
Overall, I am very happy with our progress over the past 6 months. We have excellent momentum with our consulting and while we may not have a clear product direction yet, I am confident that our team is motivated and capable of finding one. Beyond that I am greatful to have an incredibly supportive family and network of friends who have helped us get to where we are today. I am excited to see where the next month takes us and I will report back then!
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