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In my role as a communication professional at CCRM, I have had the opportunity to attend industry conferences and events. There, I have met brilliant minds in the regenerative medicine and cell therapy field and learned about the work that’s happening in their facilities.
I was recently reflecting on a talk given by my CCRM colleague, Glenn MacLean, at the 2023 Till and McCulloch Meetings, which covered some of the key considerations that Principal Investigators (PIs) and researchers in academia must consider to de-risk their discoveries in preparation for venture creation. It dawned on me that in the dynamic realm where scientific breakthroughs meet the prospect of commercialization, an effective communication strategy also becomes a linchpin for success, working in tandem with other key considerations, like those discussed by Dr. MacLean.
A PI or researcher in academia, eager to take their (stem) cell or regenerative medicine discovery into the commercial arena, must be prepared to communicate their vision to diverse stakeholders. An effective communication strategy has many benefits, including helping to attract funding, build partnerships, enhance reputation, facilitate the exchange of knowledge, and increase the impact of a discovery.
Thus, as PIs and researchers tread this unfamiliar territory, a robust communication strategy becomes pivotal. Continue reading to learn five tips that can be used to navigate a communication strategy at the early stages of commercialization.
1. Define the narrative:
Before venturing out on the commercialization journey, it’s crucial that PIs and researchers define a compelling narrative that encapsulates the essence of their discoveries. This involves articulating the significance of the work in simple and relatable terms. Whether you are addressing a potential investor, collaborator, or the wider public, a well-crafted narrative serves as the foundation of a communication strategy. Key components of a narrative are a clear explanation of the problem that the discovery addresses, the uniqueness of the solution, and the potential impact it can have on patients and even society more broadly.
2. Understand the audience:
An effective communication strategy must address the specific needs and concerns of all of the stakeholders in the audience. However, different stakeholders may have diverse priorities and levels of expertise. For example, investors may be interested in the market potential and financial returns, while collaborators might focus on the scientific rigor and feasibility of the project. Communicating to the public requires a different approach, emphasizing the societal benefits and ethical considerations. A first step toward understanding stakeholders is mapping them, which involves creating a chart to track the different categories, their priorities and levels of expertise, and the names of organizations or individuals in each category. The resulting matrix can be used to guide communication activities into the future. Once the audience is understood, messages can be customized to resonate with each stakeholder’s interests, increasing the likelihood of engagement and support.
3. Build a multidisciplinary team:
Effective communication involves being able to bridge gaps between scientific jargon and lay terms, as appropriate, based on each stakeholder. When planning communications about the discovery, it is advantageous to assemble a multidisciplinary team that not only includes scientific experts but also professionals with expertise in business, marketing and communications. This team can collaborate to distill complex scientific concepts into accessible messages for each stakeholder, without compromising accuracy. A diverse team enhances the comprehensiveness and impact of the communication strategy, positioning the project for success in both scientific and commercial realms.
4. Mitigate risks and ethical concerns:
Cell therapies and regenerative medicine discoveries often come with ethical considerations and potential risks. Anticipate and address these concerns proactively in a communication strategy. A suggestion here is to clearly articulate the ethical framework guiding the research and the measures in place to ensure responsible conduct. By acknowledging potential risks and demonstrating a commitment to ethical practices, PIs and researchers can build trust among stakeholders. This not only safeguards the project from reputational damage but also positions it as responsible and sustainable.
5. Engage in strategic networking:
Successful commercialization often hinges on strategic partnerships and collaborations. PIs and researchers with promising discoveries must actively engage in networking activities to build relationships with potential investors, industry experts and collaborators. Strategic networking not only enhances the visibility of a project, but also opens doors to opportunities for funding, collaboration and knowledge exchange. In-person networking can include attending conferences, workshops and industry events to showcase the work and connect with key players in the field. Also, leverage social media platforms to amplify the reach of the narrative and engage with a wider audience. (Read my October 2023 Signals post to learn more about where scientists and engineers connect on social media today.)
As the journey from academia to commercialization requires a delicate balance between scientific prowess and effective communication, PIs and researchers must recognize the transformative power of a well-crafted communication strategy at an early stage. By defining a compelling narrative, understanding diverse audiences, building a multidisciplinary team, addressing ethical concerns, and engaging in strategic networking, they can pave the way for successful and impactful commercialization of their (stem) cell or regenerative medicine discoveries.
Laine Bodnar
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