Free Money for Life Science Entrepreneurs

Guest Post by:

Mike Schmitt, MD

Life Science Analyst and Editor of the Florida BioDatabase

Mike can be reached at M2Schmitt@aol.com

“Free Money” for life science entrepreneurs with up to $100,000 in cash and services!

Now that I have your full attention (I had to get a “hook” in there somewhere—the money may not be totally “free”, but it’s a great deal as start ups go), I’d like to tell you about the SEBIO sponsored annual “Bio/Plan Competition.”

Last post I mentioned the upcoming Southeast BIO (SEBIO) Conference to be held on December 4-5, 2008 in Palm Beach. For those not familiar with this organization, SEBIO is a non-profit public/private partnership to promote the development of the life sciences throughout the Southeast.

One of the exciting events at this conference is the announcement of the winner of the annual Bio/Plan Competition.

This is intended to identify and support newly created venture-fundable entities in the life sciences (the majority of the applicants are from research universities and research labs throughout the Southeast).

Here is how it works...(from the SEBIO website):

1. The principal investigator/entrepreneur completes a short application outlining their concept and the associated opportunity in broad terms. There is no application fee.
2. A selection committee chooses 10 semifinalists and pairs each with a team of seasoned professionals who will serve as mentors to the principals. The group's goal will be to further develop the concept and surround it with a first-class business plan.
3. Following a period of 5 to 6 months with the assigned mentoring team, a finished business plan will be submitted by the principals to a panel of experts and 4 finalists will be selected. These finalists will present their opportunity to the broader life science investment community at the annual SEBIO Investor Forum held each fall.
4. The winner of the BIO/Plan Competition will be selected at this Conference and will be awarded unrestricted, non-dilutive venture funds (valued at $100,000 in cash and services) to launch the enterprise and implement their business plan.

In the past, the application process began in February. It’s not too early to start thinking ahead. Readers can check out further details at the SEBIO website (www.sebio.org/bioplan).

SEBIO Update: Florida Catches North Carolina

Guest Post by:

Mike Schmitt, MD

Life Science Analyst and Editor of the Florida BioDatabase

Mike can be reached at M2Schmitt@aol.com      

Florida is ready to make a good impression at the upcoming Southeast BIO (SEBIO) Conference to be held on December 4-5, 2008 in Palm Beach.  SEBIO is a non-profit public/private partnership to promote the development of the life sciences throughout the Southeast.

Our State has tied North Carolina (this has not happened in recent years that I’m  aware of) with each State having 8 companies selected for the conference (actually, Florida shares an additional company in that NC based Pique Therapeutics has R&D activities in Miami).  Overall, SEBIO has selected 29 companies to participate in this year’s forum.

The conference offers an “early stage” event focused on newly emerging companies along with a “presenting” companies event for those ventures that have completed at least one round of institutional funding.  Public companies are not included in the forum.

This can be an excellent learning opportunity as early stage participants receive direct feed back from venture capitalists and business advisors as they go through the conference process.  Ultimately, 4 of the best are selected for an “Early-Stage Shootout” where they will have a chance to do a full presentation to all of the investors attending the forum.

Selected Presenting Companies of interest to Florida are:

• Atlas Spine Inc., Jupiter, FL
  
• AxoGen, Inc., Alachua, FL
  
• Pique Therapeutics, Inc. , Durham, NC with R&D in Miami
  
• Transgeneron Therapeutics, Inc., Gainesville, FL: winner of last year’s “Early Stage Shootout”
  

 Selected Early-Stage Florida Companies are:

• Claro Scientific, LLC , St. Petersburg, FL
  
• Intezyne Technologies, Tampa, FL
  
• Lakewood-Amedex Inc., University Park, FL
  
• Ophysio, Miami, FL (website not available)
  
• Sharklet Technologies, LLC, Alachua, FL
  

Since 2005, there have been 15 Florida life science companies that have presented at SEBIO with over $117M raised among this group alone during the past 3 years (this does not include the 2008 participants).  This is an excellent opportunity to gain visibility as well as making a possible connection for VC funding (VC firms from throughout the US have attended including the Southeast, Midwest, West Coast as well as the Northeast regions).