Today I have reached the very happy milestone of giving a name to my new start-up company. Our company will develop medical devices based on a unique source collagen that is exceptionally strong and elastic. As we progress I plan and hope to share here my experiences.
A name is supposedly just a name. A company should be judged on its actions, knowledge and other assets and not by its logo. For me it is obvious that the work we do is the most important thing, and that investors or consumers will judge us by our real value proposition and not by the brand name we use.
However, to be true, a good name for the company is important. Both for the immediate impression and for the long term brand value and proposition. I wanted to have a name that gives a clue and a direction of what we are about, a name that is catchy and has a nice sound.
When working on this, I found out that I needed to consider the following:
· Target audience. Should the name have an appeal mostly for customers or for investors? The final product brand names will surely be designed to appeal to customers. But what about the company name? How relevant is it for the end users? Also, in the first few years of the company’s existence, the role of investors and funding is crucial. I would like to find a name that reveals instantly our direction and advantages, so it will help us stand out in the crowded world of the funding quest. Considering all this, I think that the best approach is to focus on the real core business and its value for the customers, and choosing a name that reflects that.
· Vision. If possible I would like the company name to give a clue about our core values, purpose and goals. However, I thought to myself that I should be careful not to mix between current strategy, which can change in time, and try to understand and focus on the vision that will keep to be part of the company even when it grows and changes.
A new DNA sequencer in the size of a USB memory stick was last month introduced by Oxford Nanopore. It can be attached to a laptop computer just as a memory stick, and it has an interesting technology that allows it to sequence relatively long strands of DNA at once rather than multiple short strands at the same time.
Sequencing of genes is the process of determining the structure of DNA. Basically, it allows to determine the chemical order of DNA units (T, C, G and A).