New Venture Competition now accepting submissions for early-stage Indiana life sciences companies
INDIANAPOLIS, Ind., June 29, 2017— 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 $300,000 to 20 start-up companies, which have been able to secure over $26.5 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 access to the Indiana Seed Fund 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 Indiana Seed Fund investment committee, which has committed funding to several previous finalists.
The winner will be announced at the Indiana Life Sciences Summit on October 9, 2017. Second and third place companies will be awarded cash prizes of $15,000 and $10,000, respectively.
Applications are available at www.biocrossroads.com and must be submitted by August 14, 2017. Finalists will present to a panel of expert judges before the Indiana Life Sciences Summit on Monday, October 9. Additional details are available at www.biocrossroads.com
Previous winners are making their mark in the life sciences community. For example, Curvo Labs, which has raised $2.2 million to date, intends to use the funds to further innovate its sourcing platform, as well as accelerate the expansion of sales and customer support resources. In addition, Allinaire Therapeutics, formerly Emphymab Biotech, continues to advance the development of therapeutics for the treatment of AAT deficiency, COPD and other respiratory disorders, including acute lung injury.
Taft, 16 Tech, Metazoa Brewing Company 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.