BioSTL Fundamentals is a business-coaching 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 train 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 busy 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. These include:
- Skill and resource: Effective company incorporation and registration at low cost.
- Skill: SBIR/STTR application training at both “Intro” and “Intensive” levels.
- Resource: one-on-one SBIR/STTR consulting support for qualifying applicants.
- Skill: The creation of a viable Business Model.
- Resource: Market, Customer and Competitor research studies.
- Skill: How to recognize, recruit, and retain great talent for the Company.
- Resource: Business mentors with start-up experience and technical experts to design “product/service development paths” for qualifying participants.
The BioSTL Fundamental's Life Science Entrepreneur's Roadmap is an introductory document meant to provide the basics of company start-up for founders of life science businesses. This FAQ-type document is designed to cover the basics of life science company creation. You can learn more and download the PDF here.
Program participants earn “vouchers” by achieving specific training and business development milestones. The “vouchers” can then be redeemed for program resources by the “qualifying” participants. This allows the program to allocate these precious resources to those most likely to be successful.
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.