Translational Medicine Commercialization
Funding Opportunity for Entrepreneurs Seeking to Complete Proof of Concept Study
Translational Medicine Commercialization Fund
Background and Introduction
The Institute for Hepatitis and Virus Research (IHVR) is pleased to invite proposals from qualified individuals wishing to apply for support from the Translational Medicine Commercialization Fund (“TransComm”) to develop their ideas into commercially marketable products and/or companies.
The Entrepreneur Program is intended to defray salary, supplies, and other expenses related to the “proof of concept” testing of the applicant’s idea. In addition, guidance will be provided for grant writing, business planning, and IP issues to optimize the applicant’s chances of obtaining further development and investment. It is reasoned that achievement of these goals will be more likely to be accomplished with the support of the IHVR.
Scope and Areas of Interest
Biotechnology and the translational medicine sector are an obvious focus of the PA Biotech Center, and as home to the Institute for Hepatitis and Virus Research, which is the research institute of the Hepatitis B Foundation, therapeutic drug discovery, liver diseases, and cancer, are all strengths. However, other ideas that would be compatible and could benefit from being in the PA Biotech Center, including bioinformatics, medicinal chemistry, agriculture and renewable energy.
Funding for awards of $10,000-20,000 is possible.
Second round deadline is October 2, 2009.
Funding decisions are scheduled to be made by November 2, 2009.
Applicants are asked to write a description of the business opportunity totaling no more than five pages. Evaluation of the entries will be somewhat different than the typical business plan competition, with less emphasis placed on elements like marketing plans, financial projections, and management. Business opportunities should center on an innovative technology or approach, and the description should cover the following elements listed below. More information may be requested by the IHVR, if appropriate.
- Title of project, summary and contact information: In less than a ½ page, provide a brief but clear overall summary of the business concept that articulates the case for a promising commercial venture. Please provide email, phone, and addresses of the person to be contacted regarding the application.
- Background: In less than a ½ page, describe the field in which the opportunity exists and the nature of the underserved medical, health, or business need.
- Business Concept: In less than 1 page, describe in broad detail your business concept, the nature of the innovation, how it will address the challenges in the field, what exactly your product or service will be, who will buy it, how it will make money, and what challenges there might be.
- Market Overview: In less than a ½ page, provide a basic understanding of the market in which you expect to compete. Who else is there already or planning to enter, and what edge does your concept have over them?
- Research Plans: In less than 1 page, explain how residing at the PA Biotech Center will advance your concept? What milestones do you hope to accomplish and what resources will be required to reach them? How might the particular mix of research currently at the Center synergistically aid your work?
- Personnel: The lead investigator should also include a resume/biographical sketch. This can be excerpted from a full résumé or curriculum vitae, but please provide at least the following information:
- Name, address, current employment, titles and responsibilities
- Education and professional background
- Relevant honors, publication, grants received
- Names, titles and addresses of 3 references, and relationship to the applicant
DO NOT SEND Propriety information, but do provide sufficient information to permit comparative evaluations of the factors above. Thus, although we intend to hold all communications in confidence, ideally, you will be able to address the points above without disclosing confidential information or requiring a confidentiality agreement. If the absence of such an agreement prevents your ability to address these questions, please contact us by email (please, no phone calls).
Business opportunity concept papers will not be evaluated solely as documents in and of themselves, but as visions of potential new ventures, and will be judged on the overall likelihood of the success of the idea as carried out by the applicant. Evaluations of the plans will be based on the following criteria:
- Degree of innovation embodied in the business concept
- Level of thought, research, and analysis evident in the description
- Appropriateness of the strategy for exploiting the opportunity
- Intellectual property position and its impact on the feasibility of the business
- Time that is likely to be required before marketing a product or selling the business
- Qualifications of the applicant
- Likelihood of achieving substantial benefit from locating at the PA Biotech Center
Please return applications marked “TransComm” to:
(No phone calls please)
Ethan Byler, Coordinator
Bucks County Keystone Innovation Zone
Institute for Hepatitis and Virus Research, and
Pennsylvania Biotechnology Center
3805 Old Easton Road
Doylestown, PA, 18902
Email any questions and/or completed applications, with “TransComm” in the subject line, to email@example.com.
The Pennsylvania Biotech Center is a designated