The National Science Foundation and the National Institutes of Health, concerned about seeing the science they fund commercialized, have embraced the Lean Startup method as a way to improve the odds of success for new companies. Steve Blank, whose work launched the Lean Startup movement, has long worked with entrepreneurs, but last year began working with life sciences startups to apply the approach to an area he once thought it would not work. We spoke to Blank, entrepreneur, author, and Lean Startup guru about what startups do wrong, what he’s learned from applying the method to the life sciences, and whether there are lessons to be learned from lean startups for older, established companies.