Ross O. Youngs, Founder & CEO, BioSortia – Ross Youngs is the person behind the US Department of Energy R&D project that led to the development of Biosortia’s drug discovery platform. The platform can identify useful drug-like chemicals from microorganisms in water continuously. It is a way to continuously assay different microorganisms and keep finding more and more chemicals every day that could potentially be used in commercial medicine. Ross has a view that companies should be built around platforms, reducing corporate risk while providing multiple potential sources of future revenues.
Ross Youngs does something regularly that many of us would like to do – develop a company around a platform that can spawn multiple products (and revenue streams) rather than around a single product, a risky strategy. He believes that multiple niches or multiple opportunities in a single niche are better than having one product in one niche. This reduces corporate risks and increases revenue potential - if one idea fails, another could take off; if one revenue stream performs poorly, another could perform spectacularly. Here are some of Ross Youngs’ companies that embrace the platform concept:www.univenture.com; www.envypak.com; and www.biosortia.com. You can learn more about Biosortia at https://www.youtube.com/watch?v=_JeleNRtEJ4.