It’s a classic dilemma: scientists have profound therapeutic or drug discovery expertise, but often lack the comprehensive development, regulatory or commercial expertise — to say nothing of the necessary funds to engage consulting help — to commercialize their discoveries.
The Jump Start Grant, now accepting applications, is aimed at filling this void in Pennsylvania. Early stage therapeutic companies can compete for professional services and expertise in the form of product development and commercialization plans, which are critical to raising venture capital and growing efficiently.
“Early stage companies often lack the expertise to comprehensively address the myriad commercial development challenges which exist in the life sciences marketplace,” says Pennsylvania Bio President and CEO Christopher P. Molineaux. “We are fortunate to have partnered with two industry leaders on this unique grant opportunity which gives our members access to development and commercialization insights required for preparation of funding applications and presentations.”
PharmaDirections of North Carolina and New Perspectives in Alabama are partnering with PA Bio, the statewide trade association for the life sciences, to award two grants of about $50,000 each.
Subject matter experts will assess applications based on the following submission criteria: concept, scientific rationale, innovation, market opportunity understanding, management team and impact. Two winners will receive service grants that include an additive development plan and budget, associated Gantt charts, and commercial opportunity assessment.
Applications are due August 21. Winners will be announced in October 2014 at PA Bio's Life Sciences Future Signature Event.
Source: PA Bio
Writer: Elise Vider