Chen Shen, Telegram & Gazette
At the final round of presentations for the Venture Forum 2013 business-plan contest, Ailis Tweed-Kent and her partner Anh Hoang presented their business idea to an audience of 60 people including four judges. The two young women want to develop a new drug for osteoarthritis.
"We need five to six million dollars to start our business," Ms. Tweed-Kent said. She and Ms. Hoang, students at Harvard Medical School, were dressed in black suits, looking like two business school graduates interviewing for their first job. "The medicine still needs experimenting. We are planning to have animal tests next year. That is why we need that amount of money, and I think the same reason why most biotech startups would need lots of funds."