Extem
Name: Mardonn Chua
UBC Major: Biotechnology
Year in E101 Class: 2014
Name of current business: Extem
What we do in our business:
We are developing a new technology to mass produce adult stem cells in the lab. Our mission is to provide a consistent high-quality supply of stem cells for research use.
Why this particular business?
Our vision is to establish the first stem cell production system to supply the current and future needs of all stem cell researchers. In pioneering a central and global resource for adult stem cells, we aim to exponentially accelerate stem cell research and open the gate to new stem cell-based therapies for regenerative medicine and tissue engineering.
Biggest day to day challenges as an entrepreneur:
It is a daily challenge balancing the scientific, business, and customer development aspects of the start-up. Often, there is just not enough time in a day to accomplish all your goals, so prioritization becomes paramount.
Greatest delights in being an entrepreneur:
It is incredibly rewarding to have the freedom to pursue our own ideas and develop products that resonate with our customers.
Four key pieces of advice you would give to future entrepreneurs:
1) Never stop making decisions and stick with your decisions.
2) Find mentors that truly believe in your vision.
3) Embrace uncertainty and learn to adapt. The further/more successful you become, the harder it gets.
4) Do not make price your primary selling point.
Where do you see yourself going as an entrepreneur in the future?
In addition to growing Extem, I see myself pursuing ideas in other sectors (ie. tech/software).
