As a startup, leveling up can be exhilarating and terrifying at the same time. You’ll run into new challenges you’ve never encountered before, requirements you may not be aware of, and problems you didn’t anticipate.
The consequences of making a mistake at this stage in the game can range from frustrating to fatal for your business. Data from the Bureau of Labor Statistics shows that about one in five businesses fails in their first year. Life science startups have it even harder due to the cost and complexity of taking a scientific discovery and turning it into a viable business.