EPISODE 76: MONA OLIVEIRA, FOUNDER AND CO-CEO AT BIOLINKER

Episode’s transcript

Julio Martinez: 0:00

Welcome to the Latin Metech Leaders podcast, a conversation with Metech leaders who have succeeded or plan to succeed in Latin America. Please subscribe on your favorite podcasting platform. Apple Podcast, Spotify, Google Podcast. Amazon Music is teacher tuning. I heard radio, Pandora. All these are

Julio Martinez: 0:20

Welcome to the Laptop Me Leaders podcast. Today our guest is Mona Veda. Uh, she is one of the creators and founders of the startup called Bio Linker in Brazil, which in 2019 was awarded as one of the top 500 best biotechnology startups in the world. So I'm very pleased, Mona, to have you here is, uh, is an honor to to, to speak to you today and to, uh, find out, uh, from you what experiences you've had in Brazil, what best practices you can tell our listeners and, and, and, uh, for newer companies outside at Brazil in the US or Europe. Uh, Brazil is kind of a mystery. It's a huge market. It's a sexy country, uh, but, uh, it is difficult to navigate. It has this reputation of, it's a very protective country. Uh, you have to spend a lot of, uh, time, the bureaucracy of Brazil and all that. So I wanted to talk about all that today. So,<laugh>, let's get started. One, how are you doing today?

Mona Oliveira: 1:27

Thank you for vacation. Um, I'm very happy to be here to tell for all about how he's doing here in Brazil, how he is due business in Brazil. Uh, it's, it's going, it's, it's like a very big adventure to be here, but, uh, it's my country, so I know a lot of things about here. It's, it's amazing too.

Julio Martinez: 1:57

Yeah, Yeah. I'm sure, I'm sure you have a lot of accumulators experience, uh, that you wanna share today, and I appreciate that. Thank you again. All right, Mona, so let's get started. Uh, talking about your journey. How is it that you got to where you are today? How is it that you got to start by linker? What's the story behind all that?

Mona Oliveira: 2:16

All right. Hi. Uh, I am, uh, cutting kit, like I am scientist. So I starting my journey to be, uh, an academy. Um, learning a lot. I, I did, um, medical ary for graduation. After that. I did master and biotechnology and, uh, uh, PhD and biochemistry nanotechnology. It was a double degree between Brazil and Slovenia. So I, I went to Slovenia and then everything changed in my mind. Uh, since the beginning. I love to do translational science. Like I want to do, do applied science to change the words. I think every scientist love this idea, but someone's like more the, But I really appreciate to do some applied science. And in Brazil, uh, the scientist professional, it's very, to be a professional scientist, it's close place. There aren't a lot of position in industry. It's always in university, the position to be scientists, and then you need to be professor too. And then I love, I love both things, but, um, when I went to Venia, I married as Venia guy, and then my life changed a bit, and it, it was the point that I, learning about companies, uh, companies, ideas and startup accelerations process. And I always have a lot of ideas. And I, but, and that time, uh, biolink burning, like I, I starting to make the process to to, to accelerate and get money for bio linking. And we got, um, um, like, um, oh my gosh, I lost the word. So, uh, we got, we got, um, investment for buyer. Uh, they want to invest one, one$100,000 on the idea of Biolink. And for me, this was like, um, uh, open the door. It was a new word, even doesn't know how to do PT and how to talk business. I was a pure scientist for lab, uh, doing, uh, in focus how to do things, not, um, how to solve problems or it's, it a different way to solve problems. But when we, you are scientists, you, you, we are Fox, um, a process and, um, how to improve process and how to discover new details. And it was exactly that point that Biolink start. And, but unfortunately we didn't went to this investment in Ireland. And then I apply in Brazil to get money and by back to Brazil, and I come in with my family and we start the company here in San Paulo. So we got a of investment here because we are very, we are only the only company in Latin America doing this. So what we do, uh, we work to accelerate the protein process. So we have a self repro expression systems. It's honor for the company. We develop a cell line, is that improve the process for protein expressions, protein folding, uh, with toxic proteins. We have a very, very fast at moment for Latin America, uh, production of protein. So we, we did solutions since the dna, a tier proteins, we, we designed the dna, designed the process to solve the proteins, uh, and increase the weed of expressions and facilitate to purification process. In the end. That's very important because this, it's a responsible for 70, uh, percent of, uh, fail in production of proteins. It's not a easy way, it's not, there aren't easy way to make proteins. Proteins very fitted. Every pro different protein. You have a different protocol. It's hard need specialized people. So we are planning to automat this process in the future. That's why we, we got, uh, this word in Paris, and we still working on this now.

Julio Martinez: 7:31

So the company is now a Brazilian company. You guys produce these, uh, proteins, right? That's the end product for the local market. Where are you also exporting to other countries?

Mona Oliveira: 7:44

Yeah, we starting sport now as I for other companies, but it is in, in beginning process to export.

Julio Martinez: 7:54

Is it a market for that or outside Brazil?

Mona Oliveira: 7:56

Oh, yes. Really? Okay. It's a huge market for only for service for proteins. Like we, we, we do it now, it's$63 billion the market.

Julio Martinez: 8:09

Wow.

Mona Oliveira: 8:10

<laugh>. But each protein can have your only market. Wow. Like, like one, we, we did antibodies, uh, expressions, for example, for one company, this antibody synthetic only have your own market like three billions for this or even more, 70 millions. Uh, like that for self protein expression. The market is smallers. They are a new technology. Uh, I, uh, it's 260 million the market right now. But it's growing and we, we want to be one, like, it's very nice. It's, it's amazing technology. Like they are very fast to make protein, but it's still not, um, scale process because of the, um, the, it's still expensive and we need to improve some points here. It's like a year project, yet we are working now for the future, but this technology, we enable a lot of things in the future, probably. That's amazing. It's, I love it.

Julio Martinez: 9:27

<laugh>. No, I can tell you. Love it. Yeah. So is it, is it just you, you have a co-founder? Uh, what's the structure of the

Mona Oliveira: 9:33

Company? Yes, of course. Uh, we do not do anything along. Uh, I'm this girl like that. I, I love people. I, I, I'm leader. Like, I love to convince people and I have a amazing people around me. It's like, um, uh, always say that I am not saying without you and you nothing without me<laugh> like that. Um, right now we are three partners, uh, founders. Okay. But we got, um, uh, investor recently December. So he, he coming to, to the partners process. But we are 11 people, 11 amazing people working every day to make protein for Brazil,<laugh> of Brazil.

Julio Martinez: 10:27

Okay. So let's talk about Brazil. Let's talk about the industry. Let's talk about the regulatory challenges, all that. What's what's the process within? And visa. And Visa is famous for being difficult, right? And, and, and, uh, bureaucratic and, uh, everything takes forever. And, uh, corrupt sometimes, right? There's corruption. That's, that's what people hear in the United States. In Europe.

Mona Oliveira: 10:52

It's political.

Julio Martinez: 10:53

Political, exactly. It's very political. So let's talk about that. What, what are your thoughts on Visa?

Mona Oliveira: 11:01

Okay, um, uh, it's like after Covid 19, they're starting to be more transparent and also, uh, the open, uh, channels to communication with. So it start to be more clear to me how they work and not. So, uh, it's like there are a lot of gossip about nvi. So, but I don't like gossip. So I, I starting to dig, dig in to discovery better. How does really work? Because, uh, it's, it's like, oh, you're worrying about everything that say a visa or regulatory process. Even that I, I didn't have a education for that. So it's like that I'm learning every day. But, um, it's like you said before, um, I hear a lot of history about Invi. Right now we are with new plant that is bigger for regulatory process. And then I start to talk in this tenure with the visa, they ends me, well, they do all instructions. Um, for, for at moment. My relationship is going well, and I really advise to everyone that come here trying to use these chains to communication directly with these, uh, if it's possible. Of course, it's I Portuguese, so you need to translate. And, um, but they answer very fast in two days. Right now, I guess it's because of Covid 19, after Covid 19, uh, they starting to make more fast process and more clear process too. And I am very happy because it's like, um, there are a way to discover better, uh, not be, it's not, it's like, it's like you don't have a, a lot of informations and the website, but

Julio Martinez: 13:13

Yeah, exactly. Doubt.

Mona Oliveira: 13:15

Notice that. Yeah. Any doubt you go in the channel and writing

Julio Martinez: 13:21

Oh, and they, you really

Mona Oliveira: 13:24

Answer you. Exactly.

Julio Martinez: 13:24

Yeah. I found that very weird. I, I spent about an hour, hour and a half or so looking for something for medical device regulations and, and for the cata, the, the, uh, yes. Yeah. Uh, and I couldn't find much information, is I, I found more information in English than in Portuguese<laugh>. Oh, right. I mean, in other, from other sources. From other sources, not from a visa. So anyway, but your product is regulated by Avi. So you've had to have, um, you have to go, you've gone through the regulatory approval process of your manufacturing. How does it work?

Mona Oliveira: 14:09

Right now, we are regulated for CT and E bill, that bio, bio safety. Um, they, they call, uh, National Center of Bio Safety Security in Brazil that they regulate all, uh, ogm, our organism genetic can modified that we work on. So we have a, this number and everything, um, and conform it with them. And any other product we do, they, they know, uh, for nvi, we starting to have some products now to start to be regulated for nvi. That's in the field of KY process because after covid 19, we, the company was, um, um, cat up for, to work into, to do, um, covid 19 testing. Um, so for this kind of product, we need Avis registrations.

Julio Martinez: 15:15

Okay, I see. So

Mona Oliveira: 15:16

Yeah, that's why I started to talk with Avi. See, trying

Julio Martinez: 15:20

To see. Yeah, yeah,

Mona Oliveira: 15:22

Yeah. But it's in process. So I, I, I would say that for now, my experiences is going well, they answer me back. For example, I didn't know. And then there are any information about how many tests you need to do to validate your test and a visa, for example. So I wrote, then they answer me with the number and the process, and it was very clear for me. And then it was more easy than people talk to me before. So I really advised, just talked with them directly. Okay. Okay. In Brazil, Yeah, in Brazil before. So that's trying to talk. Exactly. And also in Brazil is st problem. Uh, when you don't have this, uh, regulation, very clear, uh, the problem is even the people that work inside that sometimes doesn't know how, and then they give you information wrong. Oh one, people say, yes, you can do. Other people say, no, you cannot

Julio Martinez: 16:36

Contradictory information inside the agency

Mona Oliveira: 16:38

Inside of this. This is complicated for, for, for ranger. I, I have for

Julio Martinez: 16:45

A foreigner.

Mona Oliveira: 16:47

It's crazy. They say, No, it's not possible.

Julio Martinez: 16:50

Wow. Interesting. Huh. All right. So, uh, I guess there are plenty of regulatory consultants in Brazil. If a company wants to do business in Brazil, they should probably hire the services of a consult to deal with that visa.

Mona Oliveira: 17:13

Yeah, exactly. All very easy.

Julio Martinez: 17:15

So, yes. Yeah. Yeah. So let's talk about doing business in Brazil, uh, in general, starting a company, having employees. How is it, I mean, is it difficult? Is it, is it bureaucratic? Uh, what do you think about it?

Mona Oliveira: 17:30

Yeah, for open a company here is very fast. The process, like, I think as, uh, it's still a problem. The, the fees, uh, accountability process.

Julio Martinez: 17:46

Yeah. Accounting

Mona Oliveira: 17:46

Account, account counter process is crazy. Really. Yeah, I, I'm p d, but I, I do know nothing about this<laugh> for me, I'm still learning about. Um, it's, um, it's a very complicated, the account process, but, um, there are plenty of counters that work into you with different prices. It's very important to, uh, to know a little bit about, because they do some wrong process too. So I really advise, I have a tree before I finish with one really

Julio Martinez: 18:30

New, You tried three accountants before landing over one that you use today. Wow.

Mona Oliveira: 18:36

Yeah. And then still we are used today, doesn't know how to, because we are working with, uh, government invest, uh, projects. So there are different process to the declarations, and they dunno, and they dunno about my product. That's really noted, and I have a issue with this, but if you are working with not innovative process,<laugh> should,

Julio Martinez: 19:07

Okay, so you are receiving funds from the resilient government and, and, uh, is, is there a lot of funds? Is there a lot of support from the government to innovate? Like what you're doing really?

Mona Oliveira: 19:19

Ok. Yeah. Uh,<laugh> for, for some power that the state that have more funding for that.

Julio Martinez: 19:27

Oh, because is also the richest state. Yes. Is that correct? The rich is the Biggers the biggest and the richest state? R is in another state, right? Yeah. Yeah. Ok, ok. Yeah. And, and, and correct me if I'm wrong, but, uh, I, I traveled to Brazil. I I you spent about a year dealing with Brazil, going back and forth many times. I even spent about three months in Brazil. I travel to Rio Sa Salvador for Carnival, and

Mona Oliveira: 19:59

I'm Salvador,

Julio Martinez: 20:01

Sal, Brazil seems to have like one big, big city. And that's Apollo, right? Real janero is not, it's more like fun. The beach and the music. And the carnival is not really a business city per se, is that correct?

Mona Oliveira: 20:22

Yeah. Um, Sao is, it's a megalopolis.

Julio Martinez: 20:26

It's, it's a mega. Mega,

Mona Oliveira: 20:27

Yeah. And everything happens here. Um, you can connect well for business, I really advised to be here because it's, it's easy logistical and everything's here. Um, but it, uh, sometimes right now, for example, the government, the federal government want to make more business and Amazon. So they start to give a lot of money and project to companies go there.

Julio Martinez: 21:01

Okay. Incentivize companies to build plan or set up their shops there.

Mona Oliveira: 21:07

Exactly. But you have a lot of problems for, um, logistic kid to, to

Julio Martinez: 21:14

Logistics. Yeah, exactly. Cause everything is by playing the roads or not that good, or there are no roads at all.

Mona Oliveira: 21:23

So you need to prepare for that probably. Yes, for Sao Paulo, you don't have these problems. They, they're very easy and connecting and it's usually, I, I choose here because I got this go, this government, um, investment. So we actually got 1 million of, it's about to, to$2,000, I guess. Yes.

Julio Martinez: 21:52

200,000,

Mona Oliveira: 21:53

200,000.

Julio Martinez: 21:54

Ok. 200,000. That's a good amount. Yeah. Yeah. Very good amount. So I guess I, I imagine there's a lot of bureaucracy. You have to, uh, account for every single penny. You have to report<laugh> Yeah. To back to the government, what you're doing with every single penny, right?

Mona Oliveira: 22:10

<laugh>. Exactly. Exactly. Every single. But they, they have like stages of, uh, investment process for your idea. So we got actually five times, um, we, we actually got now more 1 million now, uh, because we got another round of investment, ade investment. So they do, um, a complimentary investment for company that in order to, and bring innovation for the state. So they, they complimentary the same amount of investment for you.

Julio Martinez: 22:48

Okay. They match. They match. Okay. I see. Okay. Interesting. Very good. All right. Hmm. No, no. Good. I'm, I'm very happy to, to, to see your success. I'm very happy to hear that the government of Brazil has funds to support companies like yours. Innovation, uh, startups. That's, that's, that's great because, uh, Latin America is going through a transition, um, Mona, where there are, uh, switching to a, a knowledge economy, or they're trying to do something about it. They're trying to diversify their economy. And, uh, countries like Brazil has so much talent, so much, um, educated individuals that, uh, it's really a shame that, uh, they don't have the opportunities that other people have in the United States. But now with this global world, um, things are a little easier. People have more access to information and, and all that. So anyway, So let's talk about trends in Brazil. What's happening in Brazil? What trends are relevant to our discussion today? As you know, this podcast is about, uh, helping, uh, US European or foreign companies that are looking to do business in Latin America. They wanna do business in Brazil. They wanna know what's going on in Brazil. What political, social trains do you see happening there?

Mona Oliveira: 24:08

Yeah, trains is, uh, Brazilian is very a techy revolution here for Yeah, yeah,

Julio Martinez: 24:18

Yeah, yeah. That's a, a new terminology for me, uh, is a new industry, right? A agritech, I didn't know about it until recently. A agritech. Yeah. All right. Yeah.

Mona Oliveira: 24:29

<laugh>, they call like that the, the startup that working for improving, uh, a, a agri process. So even Biolink is, is architect.

Julio Martinez: 24:41

Oh, you, you guys are in that sector. Oh, okay.

Mona Oliveira: 24:44

Yeah. We, we have a customer from this, this market because, uh, you can use proteins on bio seed, you can use proteins for everything. So we, we can play with a lot of market. So we, we are there, uh, it, it's really a lot of investment for that right now. It's a trained, uh, it's now it's starting, They're starting, the investor here, starting to look in biotech too, that I'm very happy with this. I, I receive a lot of calls now that's

Julio Martinez: 25:23

Really from investors.

Mona Oliveira: 25:26

Yeah. I feel so special.

Julio Martinez: 25:28

<laugh>, Wow. Congratulations.<laugh>.

Mona Oliveira: 25:32

That's amazing. But three years ago, I, it was the other way around.

Julio Martinez: 25:37

Exactly what's different

Mona Oliveira: 25:41

And nobody understand, like, come on, what's this? Just give money now. I don't believe that I<laugh>.

Julio Martinez: 25:49

Wow. But you've proved yourself, I mean, you've proved that the technology works, that there's a market for what you're doing and you know what exactly what you're doing.

Mona Oliveira: 25:56

Yeah. Huge market that growing a lot too. The bioeconomic key is incredible market. It's amazing. So, uh, that's the train for the word bio economy. But for from Brazil, if you have a solution for this architect process, then architect evolution here is really huge. And that you probably have a lot of door open for you. It's the easy way, um, for, for company here, but also biotech, it's necessary for everywhere. So Latin America need a lot of biotech here. So we are open to do corporations with any company that want to come here to join us to this evolutions of bio. Uh, other train, Oh,

Julio Martinez: 26:48

Sorry. Yeah, go ahead. No, I was gonna ask you about all the trends about political trends. I hear that they left is very strong in Brazil now, what's happening? Yeah,

Mona Oliveira: 26:57

It's election time this year. So this years, we have two important moments in Brazil. One is the word cup that Brazilian really<laugh> really love. The word cup is always a phenomenal process here. And the other is the election time. So we, we need to, I dunno how it's going in the last four years, uh, but probably we, we have a new president for Nest four years.

Julio Martinez: 27:33

Okay.

Mona Oliveira: 27:33

Okay.

Julio Martinez: 27:35

All right.

Mona Oliveira: 27:35

And in political time, election times, everything can happen.

Julio Martinez: 27:40

Yes. Yeah, yeah, yeah. But, but I hear that the left is very strong, right? In Brazil right now. Yes. IMing Columbia in Peru, IMing other companies. Yeah, yeah, yeah. Look at what's happening in Peru. It's, uh, it's very unstable. I don't know if you've been following the news, but, uh, Peru is very unstable. They wanna get rid of that p It's too bad.

Mona Oliveira: 28:03

Yeah.

Julio Martinez: 28:04

I mean, for investors, for newer companies, for foreign companies to have, uh, political instability is not a good thing.

Mona Oliveira: 28:10

Exactly, exactly. So probably we are waiting after election, see how we be and then coming.

Julio Martinez: 28:19

Okay. Any other trends you wanna talk about, Mona, before we sign off?

Mona Oliveira: 28:24

I think about, yeah, we are very happy dollars. Um, dollar now that the, how to say the currency exchange resistance. Exactly. It's for, for, for us.

Julio Martinez: 28:41

Okay. The dollar is weak is saying the dollar is very weak. Yeah. Okay. Okay. So the AI is, is the reality is exactly, Yeah. Okay. Okay. Excellent. That's good for you for investors as early.

Mona Oliveira: 29:01

But for us now, we are planning to get a near investment ca till the end of the year, and then probably 35 million. I am focused on that. I want to grow in the company to

Julio Martinez: 29:18

Be 25 million for you company. Wow.

Mona Oliveira: 29:21

35. Yes.

Julio Martinez: 29:23

35. 35 million. Wow. Mo congratulations. That's a big amount.

Mona Oliveira: 29:27

No, I want

Julio Martinez: 29:28

<laugh>. Oh, you want, ok.

Mona Oliveira: 29:30

Yeah, yeah. I'm working on that now. Uh, okay. With

Julio Martinez: 29:34

Foreign investors or domestic investors?

Mona Oliveira: 29:37

Foreign investors. Is

Julio Martinez: 29:37

It foreign investors? Wow. Fantastic. Fantastic. Wow. You really wanna, you really wanna grow the company and take it, uh, global, I guess, Or at least regional. Exactly. Latin America. Hmm. Fantastic. All right, Mona, we're very close to the end of the show. Uh, do you have any final thoughts or mores of wisdom or other musics for our listeners? In other words, what would you say to the CEO of a small midsize, uh, company from the US or Europe that wants to do business in Brazil? What would be your final, uh, words of wisdom?

Mona Oliveira: 30:14

I would say that here, uh, you have a lot of talent people, the people here at working a lot, and there are a lot of opportunity to, because it's a huge marketing side in Brazil. So, um, mailing for biotechnology company, we still, um, need, uh, this inside of Brazil for solution, for, for problems in America that different from the problems from usc. So it's a, it's very nice opportunity here to growing for, for this process. Um, uh, after this Brazilian, it's a nice country, so you can enjoy the time here. The weather, the natural, the food is<inaudible>. Um, uh, we have a, we, we, we, we, my partner, one of my partner is my, my, my husband. He's Lavenia, I thought before. So he loves the weather.

Julio Martinez: 31:26

<laugh>, he spoke, uh, he learned Portuguese.

Mona Oliveira: 31:29

Uh, yeah, he, he read, knew seven

Julio Martinez: 31:32

Languages. Seven languages. Wow. Impressive.

Mona Oliveira: 31:36

Yeah. It's is a small country. So they, a lot of people speak a lot of language there. It's amazing.

Julio Martinez: 31:44

Yeah. I see. I see. All right. Fantastic Mona. So, uh, thank you so much for being the show today. It's been a pleasure. It's been a delightful conversation. I'm sure listeners, uh, learn a little bit more about Brazil, about your experience and, uh, how can people get in contact with you?

Mona Oliveira: 32:04

Ah, please. Uh, we are in all channels. No, Um, we are Instagram, Biolink, sorry, Biolink, um, we're into, um, Biolink, the Assign Biolink, um, the Facebook, even the TikTok boil. Yeah. We have, um, a presence market. So sometimes The's not, uh, like, um, the principal trainer to communication, but we, we put some funny movies there. It's really nice. You, so for.