Harvard i-lab | Non-Dilutive Funding for Early-Stage Life Sciences Companies and Beyond | Summary and Q&A

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October 3, 2013
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Harvard Innovation Labs
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Harvard i-lab | Non-Dilutive Funding for Early-Stage Life Sciences Companies and Beyond

TL;DR

Understanding and taking advantage of the various funding sources available is crucial for entrepreneurs and executives in the life sciences industry to succeed in securing funding for their research and development efforts.

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Key Insights

  • 🛟 Non-dilutive funding, such as government grants and contracts, is a substantial and often overlooked funding source in the life sciences industry.
  • 🤑 The NIH and DoD are the largest funding sources, directly investing more money into the industry than venture capitalists.
  • 👨‍🔬 Applying for non-dilutive funding requires careful consideration of the specific funding mechanisms, strategic planning, and effective communication of the scientific merit and feasibility of the research.
  • 🖐️ Collaborations and partnerships, both within academia and industry, can play a significant role in securing funding and strengthening grant or contract applications.
  • ❓ It is essential for entrepreneurs and executives to stay informed about funding opportunities and to stay ahead of deadlines to maximize their chances of success.
  • ✳️ The review process of grant and contract applications involves both scientific evaluation and risk assessment, highlighting the importance of demonstrating scientific excellence and management capabilities.
  • 🪡 Understanding the needs and interests of funding agencies and aligning proposals accordingly can greatly increase the chances of securing funding.

Transcript

thanks everyone for for coming appreciate it um i i actually before i'll i'll get started um oh i'll need to turn on as well there you go so so before i'll get started i'll just just a few words i'm coming in from a conference in town one of the bigger life science investment conferences uh the bar from america um and and it's it's amazing every ti... Read More

Questions & Answers

Q: What is non-dilutive funding, and why is it important for life science companies?

Non-dilutive funding refers to funding that does not require giving up ownership or control of the company. It is essential for life science companies as it provides a significant source of capital to support research and development efforts without diluting ownership interests.

Q: Which government agencies offer non-dilutive funding for life science companies?

The NIH, DoD, and private foundations are the main sources of non-dilutive funding for life science companies. The NIH alone provides substantial direct funding to support research and development in various areas of the life sciences.

Q: How can entrepreneurs and executives identify the right funding sources for their research?

It is important for entrepreneurs and executives to conduct a strategic assessment of their research goals, timeline, and funding opportunities. This involves understanding the different mechanisms and programs offered by government agencies and private foundations, as well as consulting with program officers to determine the best fit for their research.

Q: What are some key factors to consider when writing a successful grant or contract application?

It is crucial to clearly and convincingly present the scientific merit of the research, the project's feasibility, the budget justifications, and the qualifications and track record of the team involved. Additionally, aligning the application with the specific priorities and interests of the funding agency or program can significantly increase the chances of success.

Summary & Key Takeaways

  • Non-dilutive funding, such as government grants and contracts, is a significant source of funding in the life sciences industry, surpassing the total investment by venture capitalists.

  • The NIH and DoD provide substantial direct funding to life science companies, making them the largest funding sources in the industry.

  • Different mechanisms and programs exist within these agencies, such as SBIR and STTR, that entrepreneurs and executives can leverage to support their research and development efforts.

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