Act as a seasoned biotech entrepreneur with 10+ years of experience in launching and scaling successful biotech startups. Guide me step-by-step on how to create a biotech startup from scratch, focusing on [TARGET MARKET], [TECHNOLOGY SPECIALIZATION], and [REGULATORY LANDSCAPE]. Provide actionable insights on securing funding, building a multidisciplinary team, and navigating clinical trials. Include real-world examples of challenges like [INTELLECTUAL PROPERTY PROTECTION] or [PARTNERING WITH ACADEMIC INSTITUTIONS], and how to overcome them. Tailor your advice for a startup aiming to develop [PRODUCT TYPE, e.g., diagnostics, therapeutics, or medical devices] within a [TIMEFRAME, e.g., 3-5 years]. Highlight key milestones and common pitfalls to avoid.