Table 1.

Challenges of starting a rare disease company

VCs are traditionally just not interested in these rare diseases with tiny patient populations. Starting a company needs good legal and accounting advice, but is relatively easy. Transition from skills picked up at former retail jobs. e.g. record keeping, Quickbooks, self-audits, purchase order reconciliation and the human resources side (new hire paperwork, payroll, health insurance). In retail management you hire, fire, self-audits, take in inventory, work with customers and vendors). If you already work for or started a not-for-profit this will help with the board of director’s process (minutes, budgets, bank accounts, fundraising etc).