While biobanks still hold tremendous promise for discovery of biomarkers and new diagnostics, the biobanking community is slowly recognizing that the traditional financial model for biobanks isn’t working. Achieving sustainability in biobanking is not just a simple matter of displaying the provisions of a business plan.
Basically, biobank managers have the know-how necessary to manage a biobank but their knowledge of economic issues is poor. Contrariwise, economists are accustomed with financial instruments however not often aware of a consolidated understanding of biobanking landscapes. And if we attempt to merge both sides for the sake of biobanks?
Business model serves the strategy, while business plan explains the operational implementation of the business model. Business model design is about new ways of creating, delivering and capturing value. While the value proposition canvas helps you create value for your customer, the business model canvas helps you create value for your business. Among others, the environment map helps you understand the context in which you create, while prototyping, lean methods and lean market validation would help you to prototype and validate your concept before bringing the new product to market.
Here, to reinvigorate the human biospecimen samples use, we raise awareness on the existence of such financial instruments to biobankers community and we hope to provide enough hands-on basic guidelines. This is essential for correct management of such infrastructures like biobanks.