BayBio Launches Program to Fast Track Startup Funding and Success
New Advisory Program Connects Startups to Strength and Experience of the World’s Leading Life Science Cluster
SOUTH SAN FRANCISCO, Calif. – July 17, 2013 – A new BayBio program aims to help the most promising young Bay Area life science companies fast-track their way to funding and success by drawing on the vast and rich experience of Northern California’s vibrant life science community.
The BayBio Fellows All-Star Team (FAST) Advisory Program provides select entrepreneurs with intensive team review and coaching to perfect their business model and to develop a compelling commercialization strategy. The program draws on a high-level team of serial entrepreneurs, researchers, investors and business advisors with expertise in clinical development, regulatory, reimbursement, financing and business development.
“After hearing from investors and other life science leaders in our community, we felt that a program that provides intensive advising to our most promising young Bay Area life science companies was the best way to help them successfully commercialize new ideas,” said Lori Lindburg, executive director of the BayBio Institute.
Starting this fall, the program will be available to companies in the Fellows program, a special BayBio program for emerging life science companies. The FAST Advisory program will kick off with an initial Pitch Showcase in late September for chosen applicants. Based on the recommendations from a distinguished review panel, a select group of two to four Fellows will be matched with a team of advisors who will meet with them over the course of eight weeks for one-hour coaching sessions between early October and early December. These meetings will culminate in a final Pitch Showcase to which investors will be invited.
“We are concerned that too many promising innovations in our region are not getting funded,” said Lindburg. “The FAST program is one way that we hope to leverage the strength and experience of BayBio’s life science community to help these companies succeed. The FAST program is the latest addition in a series of BayBio programs designed to connect startups to capital and other key resources that can help them succeed in an ever-challenging funding and regulatory environment.”
Additional information on the FAST Advisory program can be found at www.baybio.org/fast-advisory.
BayBio provides comprehensive support and solutions tailored to the unique needs of nearly 1000 Bay Area life science companies and institutions, delivering tangible value through group purchasing savings, capital access, government affairs & advocacy, networking and best-practice sharing. Online at www.baybio.org. Follow us on twitter: @baybio.