Ireland has long established itself as a global leader in the pharmaceutical and biotech industries. Over the last 20 years, the sector has retained its attractiveness as a major global hub for both advanced manufacturing and the forefront of innovation within R&D.

As the sector thrives locally, we continue to attract new names from overseas to Ireland. Recent announcements from Zymeworks who have chosen Dublin as a European HQ and continued investment from the likes of Eli Lilly with their greenfield start-up in Limerick show that we are continuing to attract the best names in the Biopharma industry.

Our reputation as leaders in this space has in turn created a new wave of innovation within the start-up ecosystem. Biotech entrepreneurs with significant experience in the Irish biopharma landscape and world-class spinouts from our universities are leading to advances in the therapeutics space, and making a significant impact on patients’ lives.

Increasingly we are seeing talent seek out unique start-up job opportunities, whether it be the attraction of working on innovative methods, advances in cell and gene therapy, or the opportunity to be a part of something from early stage through to commercialization.

We thought it would be useful to speak to two leaders in the Irish Biotech field on 3 reasons a biotech professional should consider joining a start-up and advice for candidates when joining a start-up.

Paul Leonard, Biotech Entrepreneur

3 reasons why you should join a start-up

1. See the value of your contributions

Start-ups need to create value to survive. Precious resources have to be utilized to the greatest benefit of the company and one of those precious resources is probably going to be you. Therefore, the company not only wants you to succeed, it needs you to! This allows you to see directly how the important projects and elements that you work on impact the business and help the company grow. This can provide a real sense of accomplishment and work satisfaction, and create an environment filled with a lot of energy and drive.

2. The benefits of learning by osmosis

Start-ups, although small, often contain great teams that are highly motivated and with a broad array of skills and experiences. The small intimate nature of a start-up means teams and business units tend to work very closely together providing you with access to knowledge across all aspects of the business, including senior management and leadership in the company. By joining a start-up, you not only get to diversify your skill sets, but you get to learn directly from experienced entrepreneurs and business leaders in a more flexible and accessible way than in other environments.

3. You get to wear many hats

No one day is the same and often within the same day you may get to take on different responsibilities. This could involve leading a key technical challenge or task in the company in the morning before switching gears to participate in partner, investor, or other business critical meetings in the afternoon. This provides huge opportunities for career progression.

Advice on working in this space:

Embrace the pace! Start-ups may not be for everyone. However, they do come with huge potential to develop something new, embark on a unique journey, and garner career development experience that is like no other. If you want to achieve a lot in a short period of time and enjoy working across many roles, then working in a start-up could be great for you!

Anthony Newcombe PhD, Managing Director, Applied Biopharm Consulting and co-founder of VectorY Therapeutics

3 reasons why you should join a start-up

1. Variety and experience

Joining a start-up offers an opportunity to have a meaningful impact on the strategic direction of the company. Start-ups provide a variety of roles, with the possibility to contribute to multiple areas of the business. This broad involvement provides exposure to the entire drug development process, encompassing R&D, preclinical, and clinical stages. Unlike positions in larger pharma companies, which tend to be more specialized and operational, biotech start-ups provide the opportunity to gain broad drug development experience.

2. Financial incentives

Another reason to consider joining a start-up is the potential for financial incentives. Start-ups often offer equity or shares as part of a long-term incentive plan, such as an employee stock option program. These opportunities can be particularly attractive in the early stages of a start-up when both research and development data and funding are limited, and there is greater risk involved. Moreover, joining a start-up provides the opportunity to work in a dynamic and innovative environment, contribute to the company's growth, and gain diverse skills and experience.

3. Entrepreneurial mindset

Working for a start-up also provides valuable experience associated with fundraising and investor interactions, which is particularly beneficial for aspiring entrepreneurs or future CEOs. Moreover, the highs and lows of the start-up journey expose individuals to the realities of entrepreneurship, cultivating resilience and problem-solving abilities. This experience equips individuals with the necessary skills and mindset for future entrepreneurial endeavours or leadership roles.

Advice on working in this space:

While establishing a start-up offers a number of benefits, it may not be the right fit for everyone. Key factors for success in starting a biotech start-up include strong scientific expertise, identifying an unmet medical need, securing adequate funding, building a skilled and committed team, and persistence. While no guarantees, these factors provide a solid foundation for navigating the challenges and increasing the chances of success of a start-up company!

Conclusion

With these valuable insights from Paul and Anthony, it is clear to see how working in a start-up can provide experience that is unmatched in other environments. The ability to do so much in one role and space is really unique to a start-up environment and provides significant opportunities for career and personal development.

There’s palpable energy across the biotech sector at the moment, strong confidence in the market meaning that candidates have many opportunities to choose from. A start-up may not be for everyone but there’s no denying the upside is huge for those willing to back themselves.

Interested in a career move? Get in touch with Ciana

Ciana has 5 years’ experience in recruitment within the pharmaceutical and biotech industry for clients across Ireland. Within that 5 years, Ciana has specialised in permanent recruitment for the Quality, Regulatory, Supply Chain, and Manufacturing markets. Ciana has joined Mason Alexander's incredible Life Sciences Team to help build out the pharmaceutical division.

Please reach out to Ciana if you’re thinking of a move, looking to build out your team, or just interested in hearing about the current Pharma and Biotech landscape.