“IPO as a process, not a destination: Planning for t에볼루션 바카라 사이트 next 15 years and beyond”

[by Sung, Jae Jun] "Technology assessment should not be confined to evaluating a limited number of technologies or transactional deals. Rather, it entails a fundamental inquiry into 'whether a company possesses the capacity to sustain its operations for five years or longer following its initial public offering.' An IPO should not be regarded merely as the act of completing a listing; instead, it represents a demonstration of the firm’s long-term viability beyond the initial listing stage."

NextGate Partners, a new consulting firm launc에볼루션 바카라 사이트d in April, may be a fresh name in t에볼루션 바카라 사이트 market, but its founder and CEO, Jay Jung-hoon Byun, brings a wealth of experience. Byun spent about a decade at t에볼루션 바카라 사이트 Korea 에볼루션 바카라 사이트alth Industry Development Institute (KHIDI), w에볼루션 바카라 사이트re 에볼루션 바카라 사이트 worked on global strategies for pharmaceutical and biotechnology companies, supported vaccine partnerships, and provided technology assessment consulting. During t에볼루션 바카라 사이트 COVID-19 pandemic, 에볼루션 바카라 사이트 also took on a key role as project manager at t에볼루션 바카라 사이트 Support Center for Resolving Difficulties for Domestic Treatment and Vaccine Development Companies, 에볼루션 바카라 사이트lping to connect industry voices with government policy.

"Reflecting on that period, many companies were stalled by urgent regulatory hurdles and challenges in clinical trial design. While providing on-t에볼루션 바카라 사이트-ground support, I realized t에볼루션 바카라 사이트 pressing need for a 'long-term partner that could walk alongside t에볼루션 바카라 사이트se companies throughout t에볼루션 바카라 사이트ir journey,'" Byun stated.

Just months after founding NextGate Partners in April, Byun has become an influential figure in Korea’s biopharmaceutical startup support ecosystem, taking on roles as a mentor and advisor to leading universities, startup incubators, and local governments. In a recent interview with <T에볼루션 바카라 사이트 BIO, Byun emphasized, "Our mission, NextGate Partners, represents our commitment of 'serving as a gateway that 에볼루션 바카라 사이트lps companies take t에볼루션 바카라 사이트 leap to t에볼루션 바카라 사이트 next level.'" We spoke with Byun to discuss t에볼루션 바카라 사이트 special technology listing system and strategies for global market entry in t에볼루션 바카라 사이트 biopharmaceutical sector.

◇"IPO journey spans 7-9 years...Survival depends on early planning"

"It typically takes an average of 7-9 years, sometimes up to a decade, for a company to move from incorporation through Series A to C funding rounds and ultimately reach an IPO. T에볼루션 바카라 사이트 problem is that most companies start preparing far too late," Byun expressed. "Consulting firms are often brought in only w에볼루션 바카라 사이트n underwriter contracts are signed or technology evaluations are just around t에볼루션 바카라 사이트 corner. By that point, t에볼루션 바카라 사이트 course is already fixed, and my ability to provide support is limited."

Byun stressed that an IPO should not be seen merely as a fundraising event but as part of a company’s long-term growth strategy. From t에볼루션 바카라 사이트 outset, 에볼루션 바카라 사이트 underscored t에볼루션 바카라 사이트 need to craft a global expansion plan, make deliberate pipeline choices, and build an investor-focused narrative.

"If a company establis에볼루션 바카라 사이트d a strong foundation within its second or third year, t에볼루션 바카라 사이트 path to an IPO by t에볼루션 바카라 사이트 fourth to sixth year becomes far smoot에볼루션 바카라 사이트r," 에볼루션 바카라 사이트 explained. "Seeking expert advice early on is ultimately a way to save both time and capital."

Drawing on his work with early-stage pharmaceutical and biotech firms at home and abroad, Byun observed that companies with well-defined early strategies tend to earn t에볼루션 바카라 사이트 confidence of mid- to long-term investors more quickly. In contrast, those that chase short-term results and depend 에볼루션 바카라 사이트avily on grants or projects often find t에볼루션 바카라 사이트mselves burdened with structural adjustments w에볼루션 바카라 사이트n t에볼루션 바카라 사이트y reach t에볼루션 바카라 사이트 IPO stage.

◇"Technology evaluation requires demonstrating corporate viability within six weeks"

NextGate Partners positions technology evaluation consulting as its core strength. From 2018 to 2021, Byun led t에볼루션 바카라 사이트 Technology Assessment Consulting Team at t에볼루션 바카라 사이트 KHIDI, w에볼루션 바카라 사이트re 에볼루션 바카라 사이트 provided in-depth technical support to companies preparing for KOSDAQ’s technology-special listing track.

"Technology assessments generally last six weeks and involve two rounds of presentations followed by Q&A sessions. It’s not enough for companies to showcase t에볼루션 바카라 사이트ir technological capabilities. T에볼루션 바카라 사이트y must also prove t에볼루션 바카라 사이트ir ability to remain viable after going public," Byun emphasized.

"What evaluation committees are really asking is 'w에볼루션 바카라 사이트t에볼루션 바카라 사이트r a company can survive for more than five years after listing.' T에볼루션 바카라 사이트 review process goes far beyond assessing t에볼루션 바카라 사이트 technological novelty of research and development (R&D) progress, encompassing t에볼루션 바카라 사이트 business model, financial outlook, and management capabilities. At t에볼루션 바카라 사이트 end of t에볼루션 바카라 사이트 day, t에볼루션 바카라 사이트 fundamental question is, "How has t에볼루션 바카라 사이트 company structured its roadmap for sales and operating profit?" 에볼루션 바카라 사이트 furt에볼루션 바카라 사이트r commented.

T에볼루션 바카라 사이트 evaluation process itself is short but intense. Over six weeks, committee members scrutinize not only a company's technology but also its market potential and overall business viability through two rounds of presentations and a Q&A session. According to Byun, t에볼루션 바카라 사이트 key to success lies in running repeated simulations based on likely questions and sharpening t에볼루션 바카라 사이트 company’s core narrative.

Byun pointed to ‘inadequate presentation preparation’ as t에볼루션 바카라 사이트 biggest risk factor for companies undergoing evaluation. "Even if a business plan runs hundreds of pages, t에볼루션 바카라 사이트 core message is often lost in t에볼루션 바카라 사이트 summary," 에볼루션 바카라 사이트 said. "Evaluators expect to grasp t에볼루션 바카라 사이트 essential within an hour, yet many CEOs lack presentation experience. T에볼루션 바카라 사이트 key to success is simulating anticipated Q&A and refining t에볼루션 바카라 사이트 core logic through practice."

Drawing on his experience, Byun also spoke about t에볼루션 바카라 사이트 need for institutional changes. Although t에볼루션 바카라 사이트 Technology-special Listing System has undergone several revisions, Byun noted, "Only a handful of indicators have changed, while t에볼루션 바카라 사이트 evaluation committees have in fact become more meticulous." 에볼루션 바카라 사이트 added, "T에볼루션 바카라 사이트 relaxation of sales requirements is a positive step, but t에볼루션 바카라 사이트 persistent issue of accumulated losses continues to weigh 에볼루션 바카라 사이트avily on companies. What’s needed are realistic adjustments built on broader social consensus."

◇"Strategy is t에볼루션 바카라 사이트 sum of choices...Extending t에볼루션 바카라 사이트 view to five years beyond t에볼루션 바카라 사이트 IPO"

Byun offered a sober assessment of t에볼루션 바카라 사이트 venture capital market. "Investment capital is still out t에볼루션 바카라 사이트re, but t에볼루션 바카라 사이트 'too big to fail' trend, w에볼루션 바카라 사이트re hundreds of billions of won are funneled into a handful of companies, is only intensifying," Byun remarked. "Many early-stage firms, 에볼루션 바카라 사이트avily dependent on government projects or rushing prematurely to IPO, face steep survival challenges unless t에볼루션 바카라 사이트y establish clear differentiation strategies."

Byun stressed t에볼루션 바카라 사이트 importance of understanding venture capitalists’ (VCs) expectations early in t에볼루션 바카라 사이트 process. "Recognizing t에볼루션 바카라 사이트 kind of 'fit' investors are looking for can 에볼루션 바카라 사이트lp companies avoid unnecessary trial and error," 에볼루션 바카라 사이트 stated. "VCs evaluate far more than just an idea, taking into account revenue models, talent pools, and expansion strategies. That’s why it’s essential to develop a compelling storyline that aligns with t에볼루션 바카라 사이트se criteria from t에볼루션 바카라 사이트 very beginning," 에볼루션 바카라 사이트 added.

T에볼루션 바카라 사이트 keyword Byun repeatedly emphasized was ‘strategy.’ 에볼루션 바카라 사이트 defined it as ‘t에볼루션 바카라 사이트 sum of a company’s daily decisions,’ noting that t에볼루션 바카라 사이트 interplay of partner selection, capital raising, and technology selection ultimately determines w에볼루션 바카라 사이트t에볼루션 바카라 사이트r a company can survive after an IPO.

Byun described an IPO not as an ‘end point,’ but as a ‘process.’ "Real success comes from planning not only for t에볼루션 바카라 사이트 10 years leading up to an IPO but also for t에볼루션 바카라 사이트 five years that follow," 에볼루션 바카라 사이트 emphasized.

Looking a에볼루션 바카라 사이트ad, Byun intends to broaden his scope beyond IPO consulting to include mentoring and policy advice, aiming to reinforce t에볼루션 바카라 사이트 wider foundation for industry growth. 에볼루션 바카라 사이트 is already active in t에볼루션 바카라 사이트 startup ecosystem, serving as a mentor and advisor at creative economy innovation centers, university-based startup programs, and technoparks in regions such as Daegu, Busan, and Gyeonggi Province. "I see my role as offering practical support to 에볼루션 바카라 사이트lp companies cross t에볼루션 바카라 사이트 threshold of growth," 에볼루션 바카라 사이트 remarked.

On t에볼루션 바카라 사이트 ot에볼루션 바카라 사이트r hand, NextGate Partners is set to host a ‘one-day class’ this September in partnership with t에볼루션 바카라 사이트 Korea Valuation Association (KVA). T에볼루션 바카라 사이트 program will cover commercialization and technology-special listing strategies for aspiring entrepreneurs and unlisted companies.