Mentoring in the Innovation Space Keeps you Nimble and on your Toes
Erika Geimonen, a seasoned professional with a Ph.D. in Biochemistry, shares her insights from mentoring at WorldUpstart’s US Market Gateway Accelerator.
Mentoring is commonly seen as a way to give back, sharing lessons from one's own journey to aid the next generation of leaders. Yet, mentors often find themselves gaining as much as they give. This reciprocal growth is especially evident in the innovation sector, where mentoring can lead to transformative experiences for both mentors and mentees.
Deepening Industry Impact: For Erika, giving back is not just an act of kindness but a strategic effort to enrich the Pharma and Biotech sectors she has been part of for over two decades. By mentoring, she extends her influence beyond her direct professional achievements, contributing to the broader ecosystem. "I am fascinated by the intersection of science and business," Erika explains, highlighting her commitment to nurturing the symbiosis between these two realms through her mentorship.
Encouraging True Change: Erika has highlighted a critical aspect of mentoring in the innovation space – the importance of effective communication for international companies seeking entry into the U.S. market. Too often has she observed scientists and innovators focus intently on the technical details of their research while failing to articulate the unique value and purpose of their products. Erika advises a shift in narrative strategy, urging scientists to prioritize clarity about what sets their product apart, its potential market impact, and financial promise before delving into the scientific intricacies, “Scientists like to talk about science, and it takes too long. You have to ask what's your differentiator? How fast can you commercialize, and how much money do you need to do it? After you are done with your quick business pitch, then you can talk about science.”
Continuous Learning: Mentoring in fast-evolving industries, mentors are kept at the forefront of innovation, ensuring they remain updated with the latest trends and technologies. Erika notes, "Working with innovative startups has allowed me to hone creative insights." This engagement is not just about imparting wisdom but also about mentors learning from the fresh perspectives and challenges posed by their mentees.
Personal and Professional Growth: Mentors find that their interactions with mentees spur personal and professional growth. Obstacles experienced by mentees encourage mentors to fill gaps in their own knowledge and understanding. Erika reflects on this, saying, "They question you. They actually challenge you." This dynamic ensures that mentoring is a two-way street, where mentors also evolve by identifying strengths and areas for improvement.
Erika Geimonen has a 20-year career at the nexus of science and business and a broad skill set in licensing, product management, capital raising, operations, and strategic planning, with a proven track record in negotiating successful Pharma and Biotech mergers and acquisitions. Her executive roles have spanned Board Member, COO, Chief Business Development Officer, and President in both startups and established companies.
Erika’s journey to mentoring underscores the fulfilling nature of mentorship. Her approach to problem-solving and her capacity to adapt to the needs of diverse startups showcase the profound impact mentors can have. "Having people from different countries, different companies creates a kaleidoscope of options… It keeps you nimble and on your toes," she observes, encapsulating the essence of why individuals choose to mentor.
These motivations highlight the enriching experience of mentorship, both for the mentors and their mentees. For individuals who would like the opportunity to guide, learn from, and grow with innovative leaders should consider becoming a mentor for WorldUpstart’s US Market Gateway Accelerator. For more information, visit www.worldupstart.com or contact info@worldupstart.com.
