Setting Foot Where It Matters: DeepScan Diagnostics' Journey in San Francisco
By Anssi Rantanen (S25 Batch) & DeepScan Diagnostics – Developing cfDNA-based diagnostic tests to assist veterinarians uncover hidden diseases such as cancer.
When writing this, we are just through the first month of the three-month-long program. And already at this stage, only after a third of the program, I can say that it's been worth it. Still, back when we were initially applying, we were a bit on the fence about whether we wanted to attend the SILTA program. During the application period, we spoke to a couple entrepreneurs who had previously participated in the program, who unanimously spoke in favor of the program. Eventually, we concluded there was little downside in attending the program while our potential gains from getting exposure to the U.S. market were significant.
Building DeepScan Diagnostics in San Francisco
One of the big things that we want to figure out as an early-stage company is determining the right go-to-market strategy. For our industry, which is veterinary diagnostics, the US market is incredibly relevant. It alone has approximately 30,000 veterinary clinics. A lot of the vet chains globally, look up to the US players, who are considered the most forward-thinking and most innovative. So if we succeed in the US, we can basically succeed globally. Therefore getting an opportunity to come to the US for three months, just have boots on the ground, and talk to a bunch of customers is an absolute no-brainer.
My goal for the SILTA program is to open up the US market. So far the traction has been surprisingly good. Having gone to a couple of veterinary conferences, we've already gotten a couple of really high potential potential leads, that we're hopefully going to close in the upcoming weeks. Ultimately traction is what we're looking for. Sales solves many problems and moreover, It’s a big help when we initiate talks with investors. My secondary objective for the program is to start fundraising efforts in preparation for the round we plan to close later this year. If we were to see commercial success in the US, we would like some US-based investors to lead or participate in the funding round. SILTA has a fantastic network here in the Bay Area, and of course, there's a lot of capital available here that we are looking to utilize.
Life at the SILTA house
If you are debating applying to the program yourself, you might be contemplating “What does the group dynamic look like at the SILTA house?”. I can say that the people I’ve met during the SILTA program are the highlight of the entire program. The other batch participants are not only super smart but also truly fun and great people to spend time with. I personally believe that you're the average of the people that you spend time with. The SILTA program is a fantastic opportunity to achieve huge company goals. Once here, you don't have many distractions in the company building. The people at the SILTA house act as an accountability network and push each other to make the most out of the 12 weeks we spend here. Not to forget the environment of San Francisco overall, which to any founder, is incredibly inspiring.
Final thoughts
Based on what I've already experienced, I can definitely say that it's been super valuable. I do think for any company, unless it's incredibly local for some reason, the learnings you can drive from being here in SF are massive. Up till now at least it’s been an incredibly, incredibly positive thing.