Hello everyone. My name is Anaïs Barut, I am the president of DAMAE Medical company. In this video, I will talk about my carreer and the creation of my company. Let's first talk about my academical course. After my baccaleaureate, I couldn't decide between two choices that I both liked : science and business. I chose to do "classes préparatoires" PCSI [intensive foundation degree] and I thought that, after my engineer diploma, I would try to seize any possible occasion that could help me obtain business skills. So, after my engineering studies at the Institut d'Optique, I entered the "grande école" HEC Paris. [extremely selective establishment] During my studies in the Institut d'Optique, I had the opportunity to lead successively three business projects and then to do a placement in a very young startup. This is where I found my vocation. This is also where I met David Siret who also had this desire to live the business adventure. >> Hello, I am David Siret, Technical Manager of DAMAE Medical. So, I will tell you about my carreer. Like a lot of students following the general curriculum, I didn't really know what I wanted to do later, or what field could interest me more than another. After my baccaleaureate, I entered a scientific "classe préparatoire" in physics and chemistry which allowed me to get a high level in science and be able to enter any university. I integrated the Institut d'Optique after my "classe préparatoire" because there was a branch for entrepreneurship and innovation. In secondary school (or even higher education), this science of value creation is rarely introduced, so I was curious about it. Thanks to the recruiting communication for the future ex-student of "classe préparatoire", I realised the scientific and technical level that I could reach at the Institut d'Optique on the fondamental aspect as well as engineering, and in physics in general. Furthermore, the university is linked to a worldwide famous laboratory specialised in optical and photonic research. So the students were introduced to current technological issues. I also realised that the branch for entrepreneurship was exactly what I wanted to do to complete my scientific training. There is a double aim to this branch: initiate and train new engineers to creator and startup jobs in technologies and offer a development project for a technology from public or industrial research laboratories to impliment our knowledge in real time. DAMAE Medical develops a medical device for dermatologists allowing them to clearly visualise skin tissues directly on the skin surface of the patient. The aim is to be able to diagnose before making any test. Technology appeared at the same time as the entrepreunarial project; when Anaïs and I met Professor Arnaud Dubois in January 2013. Arnaud leads a reasearch team specialised in optical imaging techniques for biomedical research and medical diagnosis applications. Arnaud is an internationally recognized expert, He has been researching for more than 20 years, he is an important actor on the world scientific stage. Before he entered Charles Fabry laboratory, Anaud was researching in the optic laboratory of ESPCI where he developed and invented with his research manager a new innovative imaging method which resulted in a startup in 2007. At this time, he wasn't part of this new business. Six years later, he created an innovative technique and decided it was strongly valuable. He was convinced he couldn't let the chance go for the second time and decided to associate with two entrepreneurs: Anaïs and myself, to add value to his invention, to patent it, to develop and spread the device on the medical imaging market. We designed together a first proof of concept in the laboratory, as we were convinced of the potential of this technology coupled with its relevance to health needs, we patented the invention less than one year after we first met. Choosing to create a company right after my studies is not only for an isolated reason, but it is thanks to several favourable factors, which, once united, allowed to transform a student project into a real entrepreneurship opportunity. We invested ourselves in an innovating project with high technological ambitions this is a very stimulating challenge for engineers. CNRS and Institut d'Optique gave us support and ressources which is a major asses fo a scientific company. Moreover, we were lucky enough to form a cohesive operational team that we tried to structure in the most effective way, covering all the required competences for a techonological startup: researcher, engineer, salesperson. Thanks to the dynamic entrepreneurship ecosystem of HEC or the 503 (entrepreneurship center of Institut d'Optique) we are immersed in a dynamic environment and we benefit from close links with research and innovation actors. We therfore chose to seize this opportunity, which seemed more attractive than risky to us. >> What will DAMAE Medical become in ten years? A succesful company with a greater number of partners. We want to create a dynamic French company in the field of medical technologies aiming to improve the quality of the treatment of patients. Today, France already has several very dynamic startups that we hope to join. This is particularly based on credibility. We would like to aquire a solid place on imaging markets and in the world of cancer. This will be closely related to the intallation of devices in many hospitals and clinics. The development of DAMAE Medical will depend on the maturity of the technology. There are three main phases. The validation of the technology is the first phase. The proof of concept is already validated and the intellectual property has been secured. The second phase is the testing phase in collaborative research. This phase has a double purpose. We will refine the technology to obtain en end product, And the benefits of the patient will be proved through several international multicentric studies. This way, we will validate the clinical relevance of our device. Finally, the third phase is marketing. This is followed by an important financial investment to ensure a significant commercial startup. For these three phases, we need to work on several pillars of development of the company: market focus, implementation to access it, development of the economic model, or finance. I think that a good entrepreneur is able to go back and forth between these pillars. He has to work on all the pillars in parallel. And this is very difficult to handle. The more our technical development will progress, the more aspects will have to be locked on the product and on the market. And there is a moment when we will have to define a final version for our first product. What kind of advice could I give to an entrepreneur? I have three pieces of advice about things that I saw with my own eyes during my entrepreneurship adventure. First, the entrepreneur is often seen as a very optimistic person, but I don't think that it is an essential quality. You should know that 100% entrepreneurs believe in their succes, however 50% will be disappointed. This excess of optimism comes from the idealisation of some entrepreneur's careers such as Steve Jobs or Mark Zuckerberg. So you might think that the right behaviour for an entrepreneur should be pessimistic instead of optimistic. I think that it is not about being optimistic or pessimistic; an entrepreneur must be single-minded. As a second piece of advice, you shouldn't build a company only because entrepreneurship interests you. You must find an idea, an innovation provide a solution to a problem that you are passionate about. Appart from the fact that it will be much easier to work on a subject you are interested in, there is another advantage that I discovered in practice. Some of the decisions and orientations of the company are chosen for clear and rationnal reasons. For example, I am going to do a market study to define possible markets. I will then chose the most important market with the most urgent needs. After this decision, a few aspects of the company will be locked. I will be able to target the market, characterise my future product specifications, implement ways to access it, establish a shedule for the technical development. Once rational aspects have been used for the least risky choices, we often face a cornelian dilemma. Should the distribution be done directly? Do we need to rely on general or specialised distribution? Do I need a economic model in sales, services or licensing? When all rational sources have been used, the next choice has to be purely personal. Who are we as entrepreneur? What do we want to become? What do we want the company to become? Do we wish to be producers or to keep researching and developing? So this is a very important point. And it is closely related to my last piece of advice: the choice of your team. The team needs to vary with different profils, competences, ways to work, to see things. But the final idea must be shared by all the founders and this before the creation of the company.
