BioSTL Fundamentals is an entrepreneur development program designed to support early, would-be entrepreneurs in the Life Sciences in St. Louis. The program provides a one-on-one, customized business learning experience for each participant.
Focus on Founders
The program is designed to coach and support Founders of businesses. The program does not provide training for an operational role in a start-up (Such training is already provided by several other programs in St. Louis). This is because operational training is typically too detailed and time consuming for many company founders – especially academicians, PhD students and post docs who frequently have innovative technology ideas but whose current career and/or lack of relevant business experience precludes taking on operational roles at this career stage.
Instead, the Program conveys a broad conceptual understanding of most operational business topics and then focuses deeply on teaching certain skills and providing certain resources especially needed by company Founders including:
- Skill: Effective company incorporation and registration at low cost.
- Skill: The creation of a viable Business Model.
- Skill: The creation of a Discounted Cash Flow Model.
- Skill: How to recognize, recruit, and retain great talent for the Company.
- Resource: Life Science Entrepreneur’s Roadmap (download the PDF here.)
- Resource: Patent Diligence
- Resource: Market/Customer Research
- Resource: Regulatory Evaluation
- Resource: Proof of Principle experiments
- Resource: Lab access
- Resource: Intros to mentors
- Resource: SBIR/STTR application training
- Resource: One-on-one SBIR/STTR consulting
RUNS AS A MERITOCRACY
Participants must earn “resources” by achieving specific coaching goals.
Fundamentals is targeted to founders wishing to start a company in the bioscience space including therapeutic products; diagnostic products; medical devices; animal and crop agriculture products; and research tools, reagents and service companies.