Decentralized Science needs business development to succeed, investor says

At the ResearchHub SciCon 2023 conference, investor Jason Fang of Sora Ventures spoke about the need for business development in decentralized science.

Fang said a critical risk for decentralized science, also called DeSci, is the longer timeframe compared to other crypto investments. For us, I think our risk is time. There are so many things that we can invest as crypto investors, and generally, for crypto investments, the turnover rate is relatively short compared to traditional [venture capital], Fang said.

He thinks DeSci needs people skilled in business development to translate research into business opportunities. One of them is the DeSci. The other one that weve been extremely bullish on is Bitcoin utility. I think what were going to see is that traditional where traditional like healthcare where, where we see like a lot of the timeframe for these profits to be like, you know, around like the 10 years plus investment mark, Fang said. That might actually shrink to a lot shorter than that, maybe to two to three years.

Fang cited Molecule, a DeSci startup, as successfully shortening timeframes. Theyre removing a lot of the bottlenecks, and theyre through a BD play and community play and getting a lot of the resources properly and more efficiently, he said. They actually shrunk a lot of their delays, which were talking about well over 50 percent of the entire lifespan of the research.

On cryptocurrency exchange listings, Fang said, I guess my goal also in the next couple months is to start kind of working, educating with exchanges. Im going to share in the idea that, hey, these will actually attract a lot of people into the exchange business. And so you should definitely start looking at the side.

He believes exchange listings could provide major funding for DeSci startups. Once you get involved with some of the top exchanges, then youre able to basically turn in. The button where its like, you have basically no funding to a lot of funding, Fang said.

The panel also featured Joseph Jacks of OSS Capital, James Brodie of ID Theory, and Adam Draper of BoostVC.

Other panelists focused on the need to build tools and incentives for scientists. However, Fang emphasized business development as the key to translating innovations into products. The sentiment was captured well in this quote, At the end of the day, its not about who has a better product or whos better; worse, there needs to be an element of B2B play in there.

Disclaimer: Sora Ventures is an investor in CryptoSlate.