The biotechnology sector has always been tremendously innovative and is on a robust increase trajectory. The sector, with its huge growth capability, will maintain to play a sizable role as a modern manufacturing hub. The life sciences sector is one of the major significant sectors in enhancing India’s global profile in addition to contributing to the boom of the economy.
In order to cater the untapped opportunities in the industry, Dr. Nagma Abbasi established NextGen Life Sciences in 2014 with an objective to become a frontrunner in the distribution of innovative biological products and services for the Life science research and diagnostic market. And also provide complete solutions in Instrumentation, Reagents, Next Generation Sequencing Services, Bioinformatics, and customized solutions to Scientists and Researchers.
The company wants to deliver the right products of scientific needs in minimum possible time at the doorstep to facilitate research findings in order to bring improvement in the human health and environment. The company is poised to become one-stop-solution to cater to the research needs of scientists in the Field of Molecular biology, Cell Biology, Immunology, Healthcare, Drug Development and more.
Winning over the obstacles
Like all startup companies, Nextgen also faced initial challenges like capital investment, finding good talent, building customer trust, and good relationship. Without just sitting back relax NextGen overcame these problems and today it stands strong in the market with creating a unique place.
The factors that helped NextGen to grow.
• Company Culture
• Knowledge Management
• Clearly Defined Roles
• Continued Scalability
• Cash Flow
• Development of Internal Tools
• Consistent Team Quality
• Customer Happiness
• Core Values
• Little Wins
• Team Performance Evaluations
NextGen is growing every year by 1-2 percent in terms of profitability and significantly growing in terms of turn over every year since the foundation. In terms of the employee as well they have a 100 percent retention rate. NextGen has grown its presence in the market as well and adding more customers every year.
I feel an Entrepreneur is a person responsible for setting up a business or an enterprise. Entrepreneur is one who has the initiative, skill for innovation and who looks for high achievements.Dr. Nagma Abbasi
The NextGen group bridges the gap in understanding the needs and pains of Researchers of the Life Sciences/ Biotech industry and help scientists gain insight on the recent innovations and technologies, assuring a sound knowledge of the subject matter. At first, NextGen try getting insight on the customer requirements by exchanging ideas, then understand the complete workflow and expect results which in turn helps them to suggest customers’ best possible customized solutions.
Their methods of measuring success are not conventional. Dr. Nagma says, “I measure success in different scales like Conversations with clients, ROI, Conversion rate, Customer satisfaction, and others with parameters like referrals from existing clients, growth, profit from the revenue, conversion rate, sales target and a lot more of organization benefit factors.”
NextGen, taking a step further with
The firm has maintained a long-term relationship with clients by rendering quality services-TAT (Turnaround Time) for the product deliveries by managing inventories with microanalysis of basic needs of prime customers, addressing customer problems customers in time with best possible solutions, maintaining highly skilled and trained sales and technical team. In addition to that, it also has a dedicated team to look into after sales and services.
With its augmenting spectrum of products and solutions, NextGen Life sciences empower the mounting realm of research to solve complex analytical challenges in the pharmaceutical, biotechnology, academic, government, environmental and industrial research, and the clinical laboratory. The company’s products address a wide range of requirements right from the sample, material characterization, and chemical analysis to clinical diagnoses and biological-based therapeutics handling.
The company oﬀers services for Cell Analysis, Cell Culture & Transfection, Cloning, DNA & RNA Purification, Gene Expression Analysis & Genotyping, PCR, Protein Expression & Analysis, Real-Time PCR, Sequencing, Synthetic Biology, Cancer Research, Stem cell research, Drug Discovery and development, Plant Sciences, Epigenetics and Services for Sequencing, Next Generation Sequencing and Bioinformatics.
NextGen is enthusiastic about innovations in Biotechnology like Next Generation Sequencing (NGS) in clinical laboratories, NGS Data analysis, and interpretation of unknown genetic variants. The company has its significant presence in North India and is planning to expand its business plans in West and South India. The NextGen team is excited about the CRISPR technology and its application. CRISPR technology is a simple yet powerful tool for editing genomes. NextGen Life Sciences is keen on transforming the modus operandi of research and future need for scientiﬁc discoveries and innovations.
NextGen Life Sciences Pvt. Ltd. aims high with the launch of its own-brand products of international standards. At a steady pace, it is working constantly to empower the mounting realm of research to solve complex analytical challenges in the pharmaceuticals, food, environment, biotechnology, and industrial and clinical research. The company’s mission is to discover, delineate and deliver high-quality products and excellent services that enable millions of lives to live a healthy and better life.
Dr. Nagma Abbasi, A determined leader
The dynamic Founder and CEO, Dr. Nagma Abbasi is leading the development and execution of long-term strategies with the vivid vision of expanding the organizations’ footprints across the global market. She attended IMT Ghaziabad, AMU, Aligarh and Indian Agricultural Research Institute, Delhi for her studies in Business administration, Doctoral studies in Molecular Genetics and Post-Doc in Molecular Biology. She learns from her experiences, failures, and updates herself about the worldly changes through reading.
She wants to be the best entrepreneur and an example for the future generation. Her career spans over a decade working with Esteemed Research Institutes and leading Multinational companies in Life Sciences / Biotech industry across various verticals like Product management, customer segmentation, brand management, and strategic marketing.
Dr. Nagma firmly believes that learning new things is ever going progress and emphasizes hard work which is smartly done. Today, with her determination to deliver the best of services and solutions which are smart and futuristic, NextGen Life Sciences Pvt. Ltd. has become the most preferred brand for clients.
Words from the Founder and CEO for rising entrepreneurs
Dr. Nagma says, “I feel an Entrepreneur is a person responsible for setting up a business or an enterprise. Entrepreneur is one who has the initiative, skill for innovation and who looks for high achievements.”
He or she works for the good of the people, open up many employment opportunities and leads to the growth of other sectors. He/she is a person who brings in overall change through innovation for the maximum social good. In this process, he/she accelerates personal, economic as well as human development. An entrepreneur should have outstanding leadership qualities.
An Entrepreneur should take a risk and should be good in decision making. Also the communication with the team and the public on behalf of the company is must. Additionally, it develops strategic goals and assures that the goals are measurable and describable. Also, emphasizes creating and implementing the organization’s vision and mission, assessing risks to the company while ensuring they are monitored and minimized. “In business, what’s dangerous is not to evolve”.
Dr. Nagma says, “I find the story of KFC’s founder Colonel Harland Sanders is truly amazing. This story is inspirational because it’s an example of how perseverance, dedication, and ambition along with hard work can create success; regardless of your age.”
“Never Give Up.” Staying Positive and Passionate can help us to go through a hard time in life and start again. Despite getting failed again and again we should not lose hope.
Life is 10% what happens to you and 90% how you react to it.Charles R. Swindoll
Innovation: A way to win
While talking about the innovation Dr. Nagma says, at present, innovation is an important factor in several aspects of business competition. Innovation enables businesses to present new or improved products to the market before their competitors and thus increase their market share and stay ahead in the market race. Several organizations have been successful and thrive because of innovation, which creates competitive advantages for them.
Innovation is a strategy that companies use to create a competitive advantage, producing things that nobody else can, doing things better than everyone else, or introducing superior, cheaper, and faster services. This strategy enables the organization to create long-term competition by gathering knowledge, skills in technology, and experience in creativity and development and introducing new ideas in the form of product innovation, process innovation, or business model innovation. This not only has positive results for the organization but also fosters the growth of the entire national economy.
The competitive advantages can result from goods and services that exhibit outstanding differences from the typical products in the respective domain or that have a lower cost than those of the competitors. In addition to that components of competitive advantage originate from the ability of a business to maximize the efficiency and services, and to develop services to which customers respond with high satisfaction rates.
• Lack of innovation can kill your company.
• Embracing creativity narrows your blind spots.
• Innovative product development puts companies on the offensive
• Inventive companies create their own new customers.
• Innovation cures myopia.
The key achievements
NextGen’s key achievements so far consistent growth for the last five years in terms of revenue and profitability. They expand in terms of employee, office space, facilities for the employees and giving them a good environment in the office. NextGen has won the trust of its valuable customers in a short span of time by proving excellent services in Industry. NextGen has been featured and awarded as –
• “Entrepreneur of the Year in Trading Business” MSMECCII Genentech Asia Awards 2020.
• “Best Places to work in 2019” by Business Sight media.
• “Women Entrepreneur of the Year 2019” by Business Connect Magazine.
• “Company of the year 2018” by The CEO Magazine.
• “Emerging healthcare Solution Provider in 2019 by Insightscare magazine.”
• “Top 10 Biotechnology Startups to look in 2019” by Biotech Times.
• “Top 20 Best Life Sciences Start-Ups “by Silicon India Magazine.
The happening work environment at the firm
• Fuel employees with opportunities and provide a pleasant workplace:
The company says that a clean and stimulating office environment makes employees feel good and rejuvenated. Also, it doesn’t take a lot of investment to make the environment pleasant.
It also believes that organizations should provide the team with apt training. This would help them make advancement in their careers and employees would become aware of the latest technologies and industry news, generating more opportunities for them. The company believes that encouraging the team members to participate by inviting their input and suggestions on how to do things better fosters collaboration within the team.
• Don’t Punish Failure and Encourage Happiness:
NextGen says the key is to learn valuable lessons from the mistakes. It suggests, “When any members of your team make honest mistakes, don’t punish them–instead, encourage them to try again.” The company also advises organizations to keep an eye on whether employees are happy with their work and their employer. If they’re not, the company can count on this unhappiness to spread.