March 3, 2017, by Elizabeth Smith
Ingenuity17 Meet the Speakers: Sarah Iqbal
“The greatest good you can do for another is not just to share your riches but to reveal to him his own” – Benjamin Disraeli
During Ingenuity17, a range of experienced business men and women have mentored entrants, and helped them on their journey to #IgniteTheMind.
The Ingenuity17 Conference was the first opportunity mentors, speakers and entrants had the opportunity to meet, network and collaborate. As the competition develops, and entrants get closer to the £110,000+ prize fund, we will be showcasing some of the successful entrepreneurs supporting and paving the way for the next generation…
First up is University of Nottingham Alumna and Ingenuity17 guest speaker, Sarah Iqbal!
Head of Digital Life Sciences
What is your educational background?
BSc in Biochemistry and Molecular Biology/Biotechnology. This was followed by a MSc Applied Biochemistry, Biotechnology and Entrepreneurship at The University of Nottingham.
How did you originally get involved with The Ingenuity Lab?
Through my links with the MSc course I took at the University.
How did you find the Ingenuity17 Conference?
There was great enthusiasm from the crowd! The conference gave so much real-life experience to the aspiring entrepreneurs which was helpful for them to gain insights in doing business. The speakers at the conference were so inspiring and well-versed in their industry. It was a great resource to learn from their experiences.
What piece of advice would you give to anyone interested in setting up their own business?
Believe in your product/service offerings and be willing to change them as you progress. In the entrepreneurial world, it’s not always about you and your idea. Ideas evolve to become better. The harder you work the luckier you get and the more opportunities you will see. Your end goal is not always your first idea.
What are the key challenges that new entrepreneurs face when setting up a business?
Starting and growing a business can be lonely. It can sometimes feel like a singular position despite being in a crowd full of entrepreneurs. But keep your focus on you and you will be just fine. Uncertainties will always be a challenge- all the time. You may be overwhelmed with it in the beginning but you will get used to it.
In addition, financing is always an issue that needs to be addressed especially when you are a new entrepreneur. So, set up a spreadsheet and go through your expenses etc. You will be starting from scratch, which means you will need to be thinking through all your possible funding options before receiving one.
What work are you currently involved in?
The team at Biotaware operates in the digital health industry where our vision is to use digital technology solutions to streamline clinical trials + consumer well-being processes. We are based in the Lace Market, Nottingham.
If you started your business today, what would you do differently?
At the point where I had my business plan and finances ready, I would have spoken with an accountant and see if it is humanly possible to hit the revenue goals before starting and investing in the time. In addition, as I progressed with the business, I would have allocated a bigger budget for marketing because it is very important for your target audience to identify you quickly.
To any entrepreneurs interested in healthcare technology and the digital health industry follow @Biotaware on Twitter and LinkedIn and visit our website for latest insights on the digital health trends.