SEBIO’s Annual BIO/Plan Competition is designed to foster the development of emerging life science and medical technology opportunities across the Southeast. We believe these opportunities will become the next wave of early-stage companies in our region.
Emerging opportunities appropriate for the BIO/Plan Competition are primarily pre-incorporation opportunities based on technologies that are at the late concept or development stage. Typically, these opportunities will still be resident in a university lab or research center and be well advanced technically, but not yet possess the elements generally associated with an established start-up company (a negotiated license of the intellectual property, a management team, a formal business plan, occupancy in an incubator, etc.). These opportunities will not yet be partnered with an existing company. They will have no prior institutional investment. They will have a reasonably clear path forward to commercialization once the technology has shown proof-of-concept data.
The BIO/Plan Competition has two principal components:
- Mentoring teams. Consisting of three or four seasoned professionals with specifically relevant start-up or commercialization expertise, mentoring teams are assigned to work with Competition semifinalists over a period of four months. The goal of this mentoring process is the creation of a development strategy and written business proposal or development plan. The mentoring team’s role is to advise the semifinalists by helping them to define, shape and present the emerging enterprise’s commercial potential, most appropriate business model, commercial development strategy and value proposition.
- Business proposal. Following the mentoring process, each of the semifinalists will submit their written business proposal/development plan to a panel of judges who will score and select the best of these to advance in the Competition. Up to four finalists will prepare and present their plan to the broader life science community at the annual SEBIO Investor & Partnering Forum, where they will again be judged by a panel. The combined scores of the written and presented plans will determine the winner of the Competition.
The winner of the BIO/Plan Competition will be announced at the SEBIO Investor & Partnering Forum and awarded a $10,000 cash prize to help achieve a significant business development milestone.
The $10,000 prize must be used within one year of receipt to help achieve a significant milestone. The funds must be awarded to a life science company or a university (not an individual) and may not be used for salaries or basic research. The winner is required to submit a short mid-year and year-end progress report to SEBIO.