Investor initiatives program: Public-private partnerships to expedite commercialization for NCI-funded small business

Brittany Connors1, Xing-Jian Lou1, Ashim Subedee1

  • 1National Cancer Institute Small Business Innovation Research Development Center, Rockville, Maryland, USA.

Insights

The National Cancer Institute

Area of Science:

  • Biotechnology
  • Cancer Research
  • Small Business Development

Background:

  • Federal funding is crucial but often insufficient for early-stage cancer technology commercialization.
  • Life science startups require follow-on capital and resources to bring innovations to patients.
  • Startups often struggle to secure funding due to limited access to investors and effective pitching skills.

Purpose of the Study:

  • To evaluate the effectiveness of the National Cancer Institute's Small Business Innovation Research Development Center (NCI SBIR) Investor Initiatives program.
  • To demonstrate how public-private partnerships can assist NCI-funded companies in securing follow-on funding.
  • To accelerate the translation of cancer research into clinical practice.

Main Methods:

  • The NCI SBIR established the Investor Initiatives program in 2015 to connect small businesses with investors and partners.
  • The program provides business-focused reviews and pitch coaching.
  • Supported 117 companies from 2016-2019, facilitating participation in 27 investor showcase events.

Main Results:

  • The Investor Initiatives program facilitated connections between NCI-funded companies and private investors.
  • Surveys indicated the program contributed to 32 completed deals as of April 29, 2020.
  • The program successfully assisted portfolio companies in raising crucial follow-on funding.

Conclusions:

  • The NCI SBIR Investor Initiatives program effectively leverages public-private partnerships.
  • The program demonstrates a successful model for accelerating cancer technology commercialization.
  • Federal initiatives can play a vital role in bridging the funding gap for life science startups.

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