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The ingredients and recipe for successful commercialization
If you’re an inventor with an idea or product you’d like to commercialize, a partnership with Phase 1 Ventures may be the recipe for your success! Phase 1 Ventures (P1V) puts together the right ingredients to help you launch a new business or grow your recently formed company.
P1V works with “long-horizon” intellectual property including pharmaceuticals, biotech, healthcare, medtech, materials and energy. The program leverages the Science Center’s network of experienced entrepreneurs along with corporate and product-development professionals to strategically contribute expertise to your commercialization process.
P1V provides office, lab and incubator space at the Science Center in Philadelphia, and research collaboration opportunities as needed. We’ll contribute up to $450,000 of direct financing and help you obtain public and private funding.
Phase 1 Ventures is supported by the U.S. Economic Development Administration.
Startups that are commercializing technologies that were invented at academic or government institutions, at large corporations, or in the founder’s garage are all eligible to apply. However, your technology must address an unmet need. P1V can provide the first level of support to a company, and program managers will work with participants to refine their growth strategy. To be considered for support, the inventor or company must have secured (or be in the process of securing) the rights to develop and commercialize any critical intellectual property.
If you wish to be considered, you will be asked to complete a brief, non-confidential “expression of interest” form and then may be invited to participate in one or more meetings.
Since it was launched in 2015, P1V has enrolled and assembled 12 teams developing products in drug development, gene therapy, diagnostics, biomaterials, machine learning, and energy. Technologies have come from institutions throughout the region, including Drexel University, Lehigh University, Rutgers, Temple University, Thomas Jefferson University and the University of Pennsylvania.
The following companies have secured Phase 1 Ventures funding:
BioSignal Analytics is developing a product that analyzes EEG and other signals commonly used to monitor patients in critical care settings, expanding access of leading neurological care to community and critical access hospitals. The technology was developed at Temple University, and the company has been recommended for small business funding by the National Science Foundation.
PolyCore Therapeutics is developing a drug to better manage Parkinson’s disease and other neurodegenerative disorders, by targeting a unique nerve cell receptor. The technology has been licensed from Rutgers, the State University of New Jersey, and Drexel University where its development has been supported with funding from the Coulter Foundation.
Quantitative Radiological Solutions is developing a tool that will help physicians make better treatment decisions from medical images used in radiology, oncology, and surgery. QRS was launched from the University of Pennsylvania’s UpStart Program, and has small business funding from the National Institutes of Health and the National Science Foundation.