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Tailored for Scientists, Engineers, and Deep Tech startups, our weekly startup curriculum includes sessions on core business and product development concepts, VIP speakers, skill development workshops, go-to-market, scaling, and shared learning. Once your internal startup is ready to go to the market, you will need innovative methods to evaluate the success of early-stage business development, growth hacking, and valuable client research services to take your first steps in the market. You will also learn how to manage and strategically scale up: partner up, build, acquire, spin-in, and spin-out, etc.
The Bio Innovation Lab was designed with the notion that incredible technology is created in our ecosystems, universities, and startups. Most of it never has a chance to make it to customers, regardless of sector, including government and commercial. The Bio Innovation Lab and our mentors will help you solve both of these problems by finding hidden technological gems in organizations across our ecosystem and state, pairing them with experts to help their new venture and experience entrepreneurship in a low-risk environment.
Science entrepreneurs struggle to find their footing in today’s innovation system, even though their innovations may address society’s most pressing needs. Our goal is to keep them in the game, focused on maturing their ideas into transformative products and businesses. Our cohort-based program gives startups the resources and education to expedite their growth within a specific market.
We eagerly anticipate engaging with developing startups that are just tapping into commercialization, leveraging from a new technology or scientific discovery, and responding to unanswered medical, health, or social needs.
During this 16-week mentoring & training program, each team will produce an applicable Minimum Viable Product (MVP). MVPs topics are limited to medical devices, diagnostic, research tools, and digital health. This program is designed for early-stage researchers, academia, and entrepreneur’s moving research from “Lab to Market.” The program will provide the following outcomes:
• Define the types and quality of data required for a pharmaceutical or biotech company to want a commercial partnership or collaboration with your company.
• Draw a schematic, mockup, or other approximation of the physical product.
• Draw a series of diagrams describing its use (start to finish).
• Draw a schematic, mockup, or other approximation of the physical product.
• Draw a series of diagrams describing its use (start to finish). Include the location of use along with the actions a clinician takes based on the results.
• Create an example of a report of the test’s output. What is the sensitivity/selectivity targets?
• Create a schematic, mock-up of the instrument, and reagent.
• Draw a diagram showing its anticipated use and a description of the anticipated change to current work and data flows.
• Create a schematic, mock-up of an EMR application for integration with EPIC, CERNER, etc.
• Draw a diagram showing its anticipated use and a description of the anticipated change to current work and data flows.
• Create a schematic, mock-up of a telehealth/telemedicine tool.
• Draw a diagram showing its anticipated use and a description of the anticipated change to current work and data flows.
• Create a schematic, mock-up of an AI tool used to improve clinical decision or billing support
• Draw a diagram showing its anticipated use and a description of the anticipated change to current work and data flows.
• Mockup the website or app, as appropriate, allowing customers/subjects to interact, make choices, and see data.
• Draw a series of diagrams describing its use (start to finish). Include the frequency of use along with any actions a user takes based on the results.
To move technology from the research center to the commercial world, with the goal of advancing the agency's mission.
To see their technology move from research to the commercial world, to positively impact their mission and to provide them with evidence to advance their tech maturity. Royalties are an added benefit.
To explore the opportunity for entrepreneurship while leveraging government investments in R&D by using evidence-based methods to validate problem-solution fit if conditions are promising for both the labs and entrepreneurs.
To act as an advisor throughout the program (and beyond), learning through teaching, enriching your career by giving back and simultaneously expanding your network.
This program aims to introduce researchers, early-stage startups, academia, students, entrepreneurs, and the fundamental concepts of business model development and the regulatory, marketing, and capitalization plans needed to bring the apply or bring a biotechnology product to the market. The course goal is for students to prepare a business model and commercialization plan for a biotech startup and present these deliverables to a panel of industry experts and funders. You will gain competencies in technology evaluation, customer discovery, business model development, characterizing product revenue streams, markets, regulatory and funding strategies.
Completion of this cohort should confer a measure of understanding, knowledge, and analytical skills. Upon completing the cohort, the entrepreneur’s will:
1.Identify and critically discuss the steps needed to evaluate an applied biomedical technology (biotechnology, health information technology, etc.).
• Critique the need for biomedical technology to solve a market problem
• Synthesize the attributes of biomedical technology.
2. Apply the lean-startup methods to discover the best customer(s) and value proposition for an applied biomedical technology (biotechnology, health technology, etc.).
• Define the clinical utility for technology before spending resources on the development.
• Compare and contrast gathered data essential to customer partnerships and collaborations before doing the science.
• Describe and recognize the barriers that the industry faces, and the sales/marketing process required for initial clinical sales and downstream commercialization
3. Apply evidence-based approaches to develop an applied biomedical technology (biotechnology, health information technology, etc.)—business model.
• Compare and contrast competing technologies and competing products.
• Differentiate the needs and concerns of end-users.
4. Formulate revenue streams and market channels that will support the commercialization of an applied biomedical technology (biotechnology, health information technology, etc.). Minimum viable product (MVP).
• Classify relationships with essential partners within the innovation ecosystem and external stakeholders.
• Design the right path to market with potential biotechnology revenue streams and appropriate market channels.
5. Illustrate expertise in identifying the customer and business partner relationships.
• Enhance and accelerate research and competitiveness of funding proposals by developing a compelling business case for research focused on value propositions, customer segments, revenue, and costs.
• Describe and define the potential market and customers.
6. Evaluate and select funding strategies necessary to support the biotechnology MVP development, regulatory testing, marketing, and manufacturing of an applied biomedical technology (biotechnology, health information technology, etc.).
• Identify and determine the commercial viability of an innovation.
• Evaluate emerging delivery systems.
•Describe potential customers, licensees, investors, or other commercialization partners.
• Explain the competitive advantage of the SBIR/STTR-developed technology.
• Assess the price customers are likely to pay.
