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Application Deadline Approaches for the 2010 PROPEL Business Plan Competition

February 19, 2010

Those companies interested in competing for a $10,000 cash award may submit applications until 5 p.m. on Wednesday, February 24, 2010. There is no fee required to enter the competition.

Sponsored by PROPEL and the iBIO EC, the PROPEL Business Plan Competition includes a preliminary round, where a panel of life sciences community members will score each application. Up to six companies will be selected to advance to the competition finals, to be held April 8, 2010 following the iBIO Breakfast Series Event at Quarles & Brady LLP, 300 N. LaSalle St, Chicago, Il. Each finalist will give a five-minute oral presentation, followed by a brief Q&A. Judges from the investor community will award the $10,000 cash prize to the top competitor.

For more information on the competition and eligibility criteria, visit www.ibiopropel.org/10000.html.

Important Dates
Application Deadline:  Wednesday, February 24, 2010
Announcement and Notification of Finalists:  Monday, March 15, 2010
PROPEL Business Plan Competition Finals:  April 8, 2010

The iBIO EC is a member of the Illinois Entrepreneurship Network of the Illinois Department of Commerce and Economic Opportunity (DCEO).

About PROPEL

PROPEL, a joint partnership of iBIO and the iBIO Institute, is a series of programs aimed at increasing the number of life sciences start-ups in Illinois and boosting the success rates of existing companies. PROPEL and the iBIO Entrepreneurship Center help guide the development of formation-stage and early-stage life sciences companies by providing entrepreneurs with access to specialized resources and expertise. Industry, academia, service professionals, entrepreneurs, and government agencies connect to create and support a vibrant entrepreneurial community in Illinois and throughout the Midwest through PROPEL programs. For more information, visit www.ibiopropel.org.

About the iBIO Entrepreneurship Center

The iBIO Entrepreneurship Center (iBIO EC) provides formation-stage and early-stage life sciences companies with technical assistance and access to matching grants and innovation challenge grants funded by the Illinois Department of Commerce and Economic Opportunity (DCEO). Launched in early 2008, the iBIO EC represents the State of Illinois’ second industry-focused entrepreneurship program, and is a proud member of the Illinois Entrepreneurship Network (IEN).

About iBIO

The Illinois Biotechnology Industry Organization (iBIO) champions biotechnology in Illinois and the surrounding Midwest region. Headquartered in Chicago, iBIO’s mission is to strengthen the leadership position of Illinois and the Midwest as a globally recognized center of medical, agricultural, and -biotechnology. With leaders from business, academia, and government, iBIO promotes the development and retention of new companies as well as corporate expansions. We also advocate sensible public policy at the local, state, and federal levels. iBIO is proud to be an affiliate of the Biotechnology Industry Organization (BIO), headquartered in Washington, D.C. To learn more about iBIO and its programs, visit www.ibio.org. 

iBIO’s Leadership Sponsors are Abbott, Astellas Pharma US, Baxter International Inc. and
Takeda Pharmaceuticals North America.

For more information:
Visit www.ibiopropel.org/10000.html