The QuickStart Mission
The mission of SCBIO’s QuickStart is to offer early- stage South Carolina-based life science companies access to experienced professional services and expertise to help speed the initial steps toward being established startups, ready to attract investment.
SCBIO QuickStart recognizes life science companies have unique challenges in achieving FDA regulatory approval, and raising the money needed to execute a business plan for a medical device or therapy. To succeed over the long startup period requires exceptional persistence and acumen. Starting out with the right steps, right team, close advisers and an understanding of the path ahead are keys to success.
Selection of Participants
Selection of participants is based upon a written application submitted to the advisory committee for approval along with an interview. Three to five applicants a year will be selected in the spring and fall. The central qualifications for selection include the:
1) assessment of the skillsets of the founder/CEO and his/her coachability and commitment;
2) commercial impact of the technology; and
3) perceived likelihood of the company aggregating the resources necessary to meet its goals.
SCBIO QuickStart is focused on helping prime companies move quickly toward full formation and corporate credibility to attract investment. We want teams that can be successful raising money and getting to revenue.
Services Performed for Participants
SCBIO QuickStart will provide access to a pre-agreed selection of legal, accounting, regulatory, marketing and business professional services as identified by applicants as needed to move them toward being able to secure financial partners. Selections within nine specific areas are offered with up to $10,000 in services provided by QuickStart:
Executive mentoring/team coaching services
SCBIO QuickStart will provide access to experienced professionals to guide the company principals in the appropriate administrative steps to move as effectively and efficiently as possible toward commercial viability.
The mentor/s may require the participants to carry out studies, or perform tasks necessary to developing the company’s business plan. Every participating company will be coached in making sound fundraising pitches, networking and using capital resources and tools.
Selection of Resource Partners
Resource partners are selected based upon their experience in life science business development and commitment to growing great life science companies in South Carolina. They are paid by SCBIO QuickStart at pre-agreed amounts for specific deliverables.
SCBIO QuickStart is governed by the Board of Directors of SBIO with recommendations from an Advisory Committee. The Advisory Committee members will review possible candidates for the QuickStart program and act as mentors for them.