New Venture Competition now accepting submissions for early-stage Indiana life sciences companies
INDIANAPOLIS, Ind., July 6, 2015— The BioCrossroads New Venture Competition, an early stage business competition designed to encourage entrepreneurial activity of Indiana life sciences and health information technology companies, is now accepting applications at www.biocrossroads.com. Since 2012, the competition has awarded more than $240,000 to 16 start-up companies, which have been able to secure $21 million in follow-on funding.
Early-stage biotechnology, pharmaceutical, medical device, diagnostic, ag-biotech and health information technology companies developing innovative products and platforms based in Indiana are eligible to apply for the New Venture Competition.
The winner receives a cash prize of $25,000 and receives access to the Indiana Seed Fund II staff and the fund’s network of resources that provide business planning and early-stage strategic support. They will also have the opportunity to make a presentation to the ISFII investment committee, which has committed funding to several previous finalists.
The winner will be announced at the Indiana Life Sciences Summit on October 4, 2016. Second and third place companies will be awarded cash prizes of $15,000 and $10,000, respectively. There will also be a Pre-Venture prize of $10,000 for a promising technology that is very early in its development.
Applications are available at www.biocrossroads.com and must be submitted by August 15, 2016. Finalists will present to a panel of expert judges before the Indiana Life Sciences Summit on Tuesday, October 4. Additional details are available at www.biocrossroads.com
Previous winners are making their marks in the life sciences community. For example, Animated Dynamics recently announced a $1.7 million venture round to further develop a medical imaging technology to help doctors get a better view of cancer tissues. In addition, Auricyte continues to develop stem cell technology that will allow scientists to better study the inner ear, the development of hearing loss, and the subsequent drugs and devices used for treatment.
5am Ventures, Taft, DeveloperTown, VisionTech Partners, 16 Tech and Halo Capital Partners are sponsors of the BioCrossroads New Venture Competition.
BioCrossroads (www.biocrossroads.com) is Indiana’s initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region’s existing research and corporate strengths while encouraging new business development. BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, Indiana Health Information Exchange, Fairbanks Institute for Healthy Communities, BioCrossroadsLINX, OrthoWorx and Datalys Center), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.