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PROPEL Intel - January 2010

January 28, 2010

During December 2009 and January 2010, three companies joined PROPEL.  In addition, two PROPEL companies received an Innovation Challenge Grant for SBIR/STTR technical assistance.  Since its launch in June 2007, PROPEL has helped or is helping 54 early stage life sciences companies.

PROPEL Companies Presenting at Healthcare and Life Sciences Private Equity & Finance Conference, February 11
Several PROPEL companies will be featured at the McGuireWoods’ 7th Annual Healthcare and Life Sciences Private Equity & Finance Conference called “Healthcare and Life Sciences Investing: The Road to Recovery” to be held on February 11, 2010. PROPEL Companies scheduled to present include American BioOptics, Sword Diagnostics and Therapeutic Proteins. In addition to company presentations, there will be a variety of panel discussions and investment topics. For more information and to register, click HERE.

iBIO Institute’s SBIR/STTR Grant Writing Workshop, February 22 and 23
iBIO Institute’s next SBIR/STTR grant writing workshop led by Lisa Kurek of Biotechnology Business Consultants (BBC) is scheduled for February 22-23, 2010 from 9 a.m. – 4 p.m. in Urbana-Champaign. This two-day workshop combines the SBIR/STTR 101, Proposal Preparation and NIH Electronic Submission Workshops into a two-day intensive workshop. The workshop is targeted to life science companies, covering DOD, NSF and NIH, with detailed emphasis on NIH. If you plan to submit an SBIR or STTR proposal in 2010, PROPEL highly encourages you to attend. The registration fee is $200 per participant / $150 each additional participant from the same company. For public registration, click HERE.
February 22 and 23
9 a.m. – 4 p.m.
University of Illinois Urbana Champaign
Enterprise Works - Conference Room 130
60 Hazelwood Dr., MC-659
Champaign, IL 

2010 PROPEL Business Plan Competition: Application Deadline February 24
PROPEL is now accepting applications for the 2010 PROPEL Business Plan Competition. Applications are due by 5 p.m. on February 24, 2010. For more information, click HERE. To apply, click HERE.

PROPEL Workshop: Dos and Don’ts of pre-Series A Fundraising, February 24
PROPEL is hosting a small-group conversation on raising pre-Series A funds for early stage life sciences companies led by Harry Arader, president of the Centromere Group. During this small-group workshop, Mr. Arader will lead a discussion of funding alternatives drawing on his extensive experience in seed-stage companies in the life sciences. The discussion will touch on basic fundraising topics including:

• When is a company ready to raise money
• The various advantages and disadvantages of:
  • Friends and family fundraising
  • Non-dilutive funding
  • Convertible note structures
  • Angel financing
  • Seed-stage venture financing
• How the fundraising process works
• The realities of the current fund-raising environment

Attendance is limited to PROPEL Companies only, and space is limited, so please register early. There is a $15 fee to attend. Click HERE to register. Contact Josette Fletcher at 312.422.1111x6 or jfletcher@ibio.org for more information.
February 24
11 a.m. - 1p.m.
iBIO
65 E Wacker Pl., Suite 1600
Chicago, IL

Attend BIO2010 in Chicago as a Volunteer
If you want to attend BIO2010 May 3-6, 2010 in Chicago, consider volunteering. BIO is looking for volunteers, which allows you to attend without the high registration fee. For more information, click HERE.

2009 BIO International Convention Workshop Series
The iBIO EC along with PROPEL invite you to attend at no cost any of the workshops originally recorded at the 2009 BIO International Convention in Atlanta, GA that are now available through iBIO. Each session has the audio and slide presentations of the speakers and is roughly an hour and a half in length. The workshops are grouped in 23 different tracks: Business Development, Achieving Regulatory Approval, Finance, Technology Transfer/Licensing and many more. Click HERE for a full list of workshops available. Contact Josette Fletcher, iBIO Operations Manager, at 312.422.1111x6 or jfletcher@ibio.org for scheduling. 

Business Insights Reports Available from the iBIO EC and PROPEL
The iBIO EC and PROPEL provide our clients with over 175 market research reports from Business Insights at no charge. Titles include “Autoimmune Market Outlook to 2012,” “Pharmaceutical Pricing and Reimbursement” and “Regulatory Affairs: Paths to Approval.” Click HERE for a full list of available reports or contact Josette Fletcher, iBIO Operations Manager, at 312.422.1111x6 or jfletcher@ibio.org for more information.

iBIO Entrepreneurship Center on Illinois’ eCenter Direct
In addition to some iBIO EC forms now available online (click HERE), iBIO EC conferences are listed on the Illinois Entrepreneurship Network’s eCenter Direct web site. Click HERE for the main site, or visit HERE to see all the conferences throughout Illinois for entrepreneurs, early stage companies and small businesses.

Upcoming Events and Other News within the Community:

Best of Biotech Life Science Business Plan Competition, Submission Deadline February 1
Apply to this international life science business plan competition, sponsored by Life Sciences Austria, with total prizes of over Euro 45,000. Eligibility: a company must have formed a legal entity no earlier than March 2009. Travel to Austria is not required. For additional details or to apply, click HERE.

PeoriaNEXT’s NEXTSteps Event on Pathways to Success, February 3, April 7 and June 2
Attend the Pathways to Success, the upcoming NEXTSteps event at Peoria NEXT Innovation Center.  This event will feature two exciting business concepts allowing significant time for audience participation and feedback. The event will conclude with an update from a former presenter/client. Moderators will rotate and feature community and local business leaders. A light breakfast and coffee will be served. For more information, click HERE.
February 3, April 7 and June 2
8:30 - 10 a.m.
Peoria, IL

Financial Incentives For Entrepreneurs, February 5
Presented by SomerCor 504Inc. Did you know the City of Chicago provides financial incentives for business owners? Learn about the Small Business Improvement Fund (SBIF). It provides financial incentives to business owners, business tenants, or property owners attracting new business tenants to vacant space. Learn how these funds may pay for your business rehabbing, remodeling and renovation costs. There is no charge for this workshop, but space is limited. Please reserve your attendance by calling 312.744.5344.
February 5
9:30 - 11 a.m.
City of Chicago Department of Business Affairs and Consumer Protection
City Hall, 121 N. LaSalle St., Room 805

ITA’s Business Intelligence Roundtable, February 9
Cost is $0 for Members and Non-Members. For more information, click HERE.
February 9
8 - 10 a.m.
ITA TechNexus
Conference Room A/B
200 S. Wacker Dr., 15th Floor
Chicago, IL

Financial Assistance Available To Grow Your Business, February 10
Presented by U.S. Small Business Administration. If you want to expand your existing business or need working capital the SBA may be a viable option. Learn what the SBA is, what it does and how to apply for assistance. Learn about the SBA programs and resources that may help you achieve your financial goals. There is no charge for this workshop, but space is limited. Please reserve your attendance by calling 312.744.5344.
February 10
2 - 4 p.m.
City of Chicago Department of Business Affairs and Consumer Protection
City Hall, 121 N. LaSalle St., Room 805
Chicago, IL

Turning to Entrepreneurship: Start Your Own Business (SYOB) Workshop, February 15
This workshop offers attendees a snapshot of the entrepreneurial process. Attendees discover what characteristics successful entrepreneurs have in common, learn how to identify a viable business opportunity and learn about the process of writing a business plan. If you are exploring the idea of starting your own business, this workshop helps you plan your next steps and puts your feet firmly on the path to success. For more information, click HERE.
February 15
4 - 6 p.m.
DePaul Center
1 E. Jackson Bvld., Room 8012
Chicago, IL

DePaul’s Entrepreneurial Quest GROW Peer Roundtable, February 19 and March 19
DePaul’s Coleman Center Peer Roundtables are a place where business owners can:

• Look to their peers - other business owners - for objective points of view that are experience-based
• Receive support from others who have "been there and done that"
• Refresh their perspectives both personally and on their companies 
• Learn to transform their fears into aspirations for further success
• Have a sounding board for problem-solving to address business challenges and objectives

To read more information about the Coleman Center Peer Roundtables, click HERE. For more information, click HERE.
February 19 and March 19
8 - 11a.m.
DePaul Center
1 E. Jackson Blvd., Room 8012
Chicago, IL

TiE Midwest’s Inventive Entrepreneurship Series: Alternative Financing, February 24
Join TiE Midwest at Inventive Entrepreneurship on February 24 from 5 - 7 p.m. The evening will offer an opportunity to pull together a panel of Chicago’s top entrepreneurs, investors and experts who are eager to discuss “Alternative Financing” and how it relates to today’s entrepreneur and investor communities.  Cost is $15 for members, $35 non-members. Attendance is limited and no walk-in attendees will be permitted. Contact Maria Christopoulos Katris, Executive Director TiE Midwest, to register or for more information (312.244.3757 or maria.katris@midwest.tie.org).
February 24
5 - 7 p.m.
Location TBD
Chicago, IL

ITA ExpertPerspectives 360 Series, February 24
The Future Landscape of Technology Entrepreneurship in Illinois
Cost is $0 Members; $0 Non-Members. For more information or to register, click HERE.
ITA TechNexus Conference Room
200 S. Wacker Dr., 15th Floor
Chicago, IL

ITA’s Human Resources Roundtable, February 25
Cost is $0 Members; $0 Non-Members. For more information or to register, click HERE.
February 25
9 - 11a.m.
ITA TechNexus Conference Room C
200 S. Wacker Dr., 15th Floor
Chicago, IL

Tech CEO Roundtable Dinner, March 1
The CEO Roundtable is chaired by David Carroll, CEO of CU Aerospace, and provides a small group interaction for CEO’s of technology businesses in Champaign-Urbana to address business operations and best practices. This month’s featured speaker isIsmael Roig, ADM VP of Planning and Business Development. Mr. Roig will be speaking about the large corporation perspective on merger and acquisition activity with small and mid size companies. He will also provide an overview of ADM’s business and his perspective on trends in agriculture, biofuels and bioprocessing for global business.  Please contact Michelle Morfey if you plan to attend at mmorfey@illinois.edu by noon on February 26.  Sponsored by EnterpriseWorks.
March 1
5:30 - 7:30 p.m.
I Hotel and Conference Center, Quad Room
Champaign, IL

US Commercial Service’s Webinar on Successful Trade Shows, March 3
Attend “Are Trade Shows Generating the Quality and Quantity of Sales Leads You Expect?”
This webinar will teach effective ways to use Trade Shows to maximize sales leads. $40 fee. For more information call Margaret Gottlieb at 314.425.3348 or email her at margaret.gottlieb@mail.doc.gov.
March 3
10 - 11:15 a.m.
Webinar

ITA’s Monday Morning Meeting, March 15 and May 10
This is a bi-monthly networking and educational event that prepares early-stage entrepreneurs to raise capital efficiently. The moderated event features three companies presenting their investor pitches to an audience of investors, industry leaders, service providers, and serial entrepreneurs. Registration is free to members, non-members $15. For more information or to register, click HERE.

Startup Café with Mike Folk from the HDF Group, March 17
Join EnterpriseWorks and the Illini Entrepreneurship Center at Startup Café. Mike Folk is the president of The HDF Group (THG). He began working on HDF development in 1988 for NCSA. THG is located in the Research Park and is a not for profit corporation spin-out of NCSA. They make data storage technology using open source software that is being used by large government agencies and large Fortune 100 corporations. The HDF Group consists of about 25 staff and students and has continued to grow. The HDF Group is lessening the burdens of its government users and advancing science in research communities. THG has begun to explore new domains in which HDF can make major contributions. A handful of bioinformatics projects have shown that HDF has the capability to solve problems of data complexity and size in areas as diverse as DNA sequencing, electron microscopy, brain mapping and neutron scattering. To learn more about The HDF Group, click HERE. Sponsored by EnterpriseWorks.
March 17
12 - 1p.m.
EnterpriseWorks Atrium
60 Hazelwood Dr. – Research Park
Champaign, IL

Coleman’s Advisory Boards: Build Accountability, Leverage Connections and Benefit from Experience, April 12
Advisory boards are priceless. In addition to keeping you focused and helping you build value, advisory boards bring cost-effective expertise into your company and open doors to new business relationships.
In this course, you will learn how to create an effective board, select the right members and manage them as individuals and as a group. With peer business owners, you will engage in hands-on activities and achieve milestones such as:
- Articulating the board’s purpose and role
- Deciding how to compensate members
- Identifying prospective board members
- Running productive board meetings
This course is part of the Business Owner Academy, a curriculum of courses open only to owners of companies generating up to $25 million in annual revenue. Limited seats are available. Registration open exclusively to Coleman Center members through Jan. 4 at a special course fee of $1,395. After Jan. 4, any remaining seats will be made available to non-members at a course fee of $1,595. Deposit of $250 due upon registration. Course fee includes materials and refreshments. For more information, click HERE.
Every other Monday, April 12 - June 21 (6 sessions)
6 - 8:30 p.m.
DePaul Center
1 E. Jackson Blvd., Room 8012
Chicago, IL

The Planning Shop’s Improve Your Elevator Pitch Workshop – No Cost Online
In the business world, one question comes up repeatedly: "What do you do?" That’s where your elevator pitch comes in. An elevator pitch is a short, clear description of your company. USA Today asked me to work with an entrepreneur to improve his elevator pitch. To learn how to improve your own elevator pitch, click HERE. To learn more about what makes a great elevator pitch, click HERE. To download a FREE worksheet to craft or improve your own elevator pitch, click HERE.

Six Secrets to Success — How to Build a Sustainable Biotech Business
From Nature Biotechnology
What are the core elements of a successful biotech? Each individual biotech business is unique: founding entrepreneurs have their own visions, strategies and goals; the science and technology that drive companies is inherently exclusive; and every business is exposed to a wide range of external factors, risks and market forces. With that said, do successful biotechs share common characteristics? Yes, they do, and this article looks at the main facets of sustainable and long-term biotech businesses. Of course, it always starts with the science, but then you'll need to focus on management, adaptation, timing, location and cash. To read the full article, click HERE.

Chicago’s Department of Business Affairs and Consumer Protection Small Business Education Workshops
The City of Chicago’s Department of Business Affairs and Consumer Protection (BACP) offer workshops each Wednesday and Friday downtown in City Hall Room 805 at no cost and open to anyone, not just residents of Chicago. For a full list of topics and schedule, click HERE and look for the BACP Business Events listings.

For more information:
Visit http://www.ibiopropel.org
E-mail propel@ibio.org