"The collaborations we create are the key to our company's success," said Dr. Avi Spier, Executive Director Business Development and Licensing at Novartis, speaking at the Novartis-Israel Health Innovation Meetup. As part of his responsibilities, Spier scouts Novartis’s next investments.
As he puts it, he focuses mainly on the way such collaborations are created, and his tips cut across industries.
First, he says, there is no escaping face-to-face meetings, and formal meetings are sometimes not enough. "Let's say, the presentation ends and it doesn’t exactly fit. So, both the presentation and the opportunity are finished with. But in a conversation, in a meeting, even if an idea seems not to fit one goal, you can talk about other goals. The conversation allows for more opportunities."
Spier says that at events and meetings, and in unplanned conversations, Novartis has been able to identify several leading companies for investment. "Over the years, I've learned that sometimes there are people who talk loudly but don't actually say anything, and by contrast, there are people who say very important things but very quietly. The key is to find these people, as well as strike the balance. To find who and what to work with."
Spier says that concurrent with his active search for companies and other investment channels on behalf of Novartis, startups and ventures often turn to the company, which can give rise to fruitful collaborations. "We want to cooperate with the local industry and support it, produce more medicines, and lead innovation together."
Novartis and Globes collaborated on coverage of the conference in accordance with editorial criteria and considerations of interest to Globes readers. The conference was held with the cooperation of healthtech and life sciences investment fund aMoon and Startup Nation Central.