Glossary

The following are examples of accelerators in the bioscience/technology development realm:

• Council for Entrepreneurial Development (CED): “[C]onnects entrepreneurial companies with high-value resources to accelerate business growth. Since 1984, the Council for Entrepreneurial Development (CED) has cultivated the entrepreneurial ecosystem, turning the Triangle into a leading hub for company growth and success.”
• NC Biotech: “[Their] mission is to accelerate life science technology-based economic development through innovation, commercialization, education, and business growth…[by connecting] companies with university researchers and introduce entrepreneurs to potential funders.”

The following are examples of NC-based angel investor groups:

• Piedmont Angel Network (PAN): “[A] series of committed capital angel funds that focus on investment opportunities in early-stage companies that present high growth opportunities. PAN’s three funds invested in 28 companies from 2002 to 2016, with a primary focus on the life science, technology, software, and advanced materials fields.”
• Triangle Angel Partners (TAP): “[An angel fund that] was formed in 2011 by [a] set of leaders who were aware of the value their expertise and capital could bring to local entrepreneurs in high-tech start-ups…TAP members give companies more than just capital; they also provide counseling, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent.”

The following are two popular crowdfunding websites for science projects:

• Consano: “[C]ollaborates with development and research administration offices at a variety of research institutions to source high quality and internally reviewed research projects.”
• Experiment: “[A]n online platform for discovering, funding, and sharing scientific research… [Experiment is composed of] a team of scientists, designers, and technologists passionate about helping ideas grow.”

Examples of dilutive vs. non-dilutive funding are:

• Dilutive: Angel investors, venture capital, potentially your friends and relatives depending upon what arrangement you make with them.
• Non-Dilutive: SBIR/STTR, loans, winning a contest (in most cases), personally financing it.

The following articles detail potential exit strategies:

• Five Smart Exit Strategies: Written by a business investor and mentor, details 5 exit strategies that might be employed when it’s time to make a switch.
• How To Choose An Exit Strategy: Looks at options and considerations to make when it’s time to employ an exit strategy for a business.

The following articles detail series funding, as well as additional funding types:

• Glossary of Funding Types: A glossary of 20 funding types provided by the staff of Crunchbase.
• Series A, B, C Funding: How It Works: Details pre-seed and seed funding rounds, as well as series funding rounds and their focus.

The following are examples of incubators:

• First Flight: “[Supports] the launch of bioscience, life science, medical device, and information technology companies by providing the tailored resources, guidance, and connections required for sustained commercial success.”
• ThePink Ceiling: Led by Cindy Eckert, who started two health-related companies, her Pinkubator supports women-focused business ideas with funding and information.

The following are examples of inflection points:

• When you develop partnerships
• Make a key hire
• Obtain major funding
• Commit to the requirements of a paying customer, etc.

The following are locations where you can learn more about intellectual property protection in the United States:

• United States Patient and Trademark Office: “The United States Patent and Trademark Office (USPTO) is the federal agency for granting U.S. patents and registering trademarks.”
• U.S. Copyright Office: “The U.S. Copyright Office promotes creativity and free expression by administering the nation’s copyright laws and by providing impartial, expert advice on copyright law and policy for the benefit of all.”

The following are resources to use when creating your pitch:

• Five Ways a Biotech Can Get an Elevator Pitch Right. Highlights ways in which the elevator pitch is important and five elements to keep in mind to get your elevator pitch right.
• Going Up! Elevator Pitches for Scientists: Highlights the key elements of an elevator pitch and provides several award-winning examples.
• How To Pitch A Startup – 17 Things You Need To Know: Written by a senior marketing manager at Cox Communications, includes 17 things to keep in mind when pitching a startup to potential investors.

The following are articles that detail how to determine the necessity of seed funding and how to find it::

• How To Raise Seed Capital And Grow Your Startup: Gives an overview of seed funding, as well as how to approach acquiring such investments.
• Is Seed Funding The Right Answer For Your Startup?: Written by a seed-stage investor, helps entrepreneurs determine if seed funding is the right approach when setting up their business.

The following are examples of technology transfer offices in universities and related organizations:

• The Office of Licensing and Ventures, Duke University: “Mission: Through our partnerships with faculty, industry, entrepreneurs and investors, ensure that Duke innovations reach the marketplace for the benefit of society and to enable future investment in Duke research and innovation”
• The Office of Research Commercialization, NC State University: “The Office of Research Commercialization (ORC) plays a crucial role in this by protecting and promoting University research discoveries and intellectual property, working with and guiding industry partners, and promoting the acceleration of startups. We’re driving economic growth by facilitating the commercialization of research discoveries.”
• AUTM (formerly the Association of University Technology Managers): A non-profit engaged in supporting professionals in the developing academic research “that changes the world and drives innovation forward.” Members work at universities, centers, hospitals, businesses, and government organizations around the world. The organization works with commercial partners leading to the creation of products, services, and start-ups. Support for members is wide-ranging from corporate engagement to intellectual property protection.

The following are examples of ways to span the funding Valley of Death successfully:

• Accumulate money ahead of time.
• Keep a source of income until you are through this period.
• Consider crowd funding
• Seek business grants and enter contests
• Obtain loans or lines of credit
• Seek funding from friends and family
• Join an incubator for startups that offers cash, resources, and/or consulting
• Barter service for service
• Form a joint venture with an organization that benefits from your product
• Commit to your major customer and offer perks such as meeting their requirements.

The following are examples of bioscience/biomedical venture capitalists in North Carolina:

• Golden Pine Ventures: “The company’s mission is to aggressively seek out biotechnology and biomedical opportunities developed by leading researchers and grow them into valuable businesses.”
• Pappas Capital: “For nearly 25 years [they] have been investing in and building innovative companies that are developing the next generation of life science products and technologies.”

eRA Commons

The full names of the documents and locations are:

• PHS 2020 Omnibus Solicitation of the NIH, CDC and FDA for Small Business Innovation Research (SBIR) Grant Applications (Parent SBIR [R43/R44], with different versions if A Clinical Trial Is Not Allowed) vs. if A Clinical Trial Is Required)
• Similarly, there are Omnibus Solicitations for Small Business Technology Transfer Grants (STTR) if A Clinical Trial Is Not Allowed) vs. if A Clinical Trial Is Required)

The distinctions between SBIR and STTR are:

• SBIR funds small early stage businesses that are developing and want to commercialize innovative biomedical technologies.
• STTR fund small businesses that are developing and want to commercialize innovative biomedical technologies in collaboration with a non-profit research institution. The business must perform at least 40% of the work and the research institute must perform at least 30%.