The Wall Street Journal has found that the new generation of biotech startups are wrapping their business models around virtual space to scale back on costs but still keep research goals high. For the startup, the model's quite simple: Focus on one asset and pad the cost of failure. For investors, it's just as simple: Invest no more than $2 million or $3 million in the startup's first year, and expect either a lofty return or no harm done. Of course, the obvious pitfall is that contractors may not see eye-to-eye with their clients on a project. Story (sub. req.) | More