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Entrepreneur OnRamp Opens Application Process for Individuals and Early Life Science Startups

PHILADELPHIA--(BUSINESS WIRE)--BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania, and the University City Science Center announced today that they are accepting applications for a workshop focused on helping entrepreneurs get new life sciences companies off the ground. The program, called Entrepreneur OnRamp, will provide a full day of panel discussions, coaching and networking for up to 30 individuals or very early stage human-health focused startup companies from the greater Philadelphia region. The program is free of charge for those who are selected.

Application information is available at: http://www.bioadvance.com/EntrepreneurOnRamp.asp and www.sciencecenter.org. Entrepreneur OnRamp is being developed with additional program support from Wharton Small Business Development Center (SBDC), and with funding from We Work for Health.

“The Greater Philadelphia region has a world-class pool of life sciences talent, including individuals leaving larger biopharmaceutical companies”

“The Greater Philadelphia region has a world-class pool of life sciences talent, including individuals leaving larger biopharmaceutical companies,” said Barbara S. Schilberg, managing director and CEO, BioAdvance. “The region has a unique opportunity to redeploy this expertise to create a new generation of entrepreneurs, and the Entrepreneur OnRamp program is one way we can provide guidance as well as strengthen the community network.”

“The life sciences industry is a mainstay of the Greater Philadelphia Region’s economy,” said Stephen S.Tang, Ph.D., president and CEO of the University City Science Center. “Increasingly we’re looking to entrepreneurs and start ups to play a key role in growing and maintaining this sector. By partnering with BioAdvance and Wharton SBDC, we have put together a powerful team to help these entrepreneurs take their place in the next generation of life sciences companies in the region.”

The program’s modules will focus on four critical areas:

  • Effective business planning and common pitfalls
  • Legal and IP issues
  • Financing a new life sciences startup
  • Commercializing new life science products

Each module will be led by “Entrepreneur Instructors,” seasoned life science entrepreneurs or experts primarily from the region. A lunchtime panel will discuss the challenges of getting a new life science company off the ground. The program will conclude with a private networking reception at the Science Center.

For those admitted into the Entrepreneur OnRamp program, as well as other emerging life science entrepreneurs, Wharton SBDC will hold a program in summer 2010 to support life science entrepreneurs to plan their next steps on the route to commercialization. Details are available at http://whartonsbdc.wharton.upenn.edu.

“Entrepreneurs in life sciences can succeed by leveraging their abundant science and technology resources and business acumen with the perspective of experienced professionals,” said M. Therese Flaherty, PhD, Director of Wharton Small Business Development Center. “Entrepreneur OnRamp will acquaint promising life sciences entrepreneurs with the people, knowledge and resources in the region’s life sciences entrepreneurial ecosystem that can make the difference.”

Other organizations from the Greater Philadelphia region are participating in the Entrepreneur OnRamp program as Supporting Organizations. As such they are reaching out to their entrepreneurial affiliates for potential program participation. Those organizations include Ben Franklin Technology Partners of Southeastern Pennsylvania, BioStrategy Partners, Chester County KIZ, Delaware BioScience Association, Delaware County KIZ, Delaware Technology Park, Life Science Career Alliance, New Jersey Technology Council, Pennsylvania Bio, Pennsylvania Center for Drug Discovery, Select Greater Philadelphia, University City KIZ, and additional organizations to be announced.

About BioAdvance

Since its first investments in 2003, BioAdvance has committed $16.8 million to 26 life sciences companies and 16 pre-seed projects. BioAdvance investments have enabled its portfolio companies to leverage almost $1 billion in subsequent capital into the region from private equity, grants, collaborations and M&A activity. Six companies have been acquired including Acuity Pharmaceuticals, Alteris Therapeutics and Protez Pharmaceuticals. BioAdvance portfolio companies are working to develop products to treat health problems such as Alzheimer’s disease, cancer, diabetes, head trauma and infectious diseases. For more information visit www.bioadvance.com.

About The Science Center

The University City Science Center accelerates technology commercialization, regional economic development, and the market availability of life-enhancing scientific breakthroughs by bringing together innovations, scientists, entrepreneurs, funding, laboratory facilities, and business services. Established in 1963 and headquartered in Philadelphia, PA, the Science Center was the first, and remains the largest, urban research park in the United States. Graduate organizations and current residents of the University City Science Center's Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. For more information about the Science Center, go to www.sciencecenter.org.

About Wharton SBDC

The Wharton SBDC was founded in 1981 as part of the Wharton Entrepreneurial Programs - the first and widely acknowledged as one of the most influential entrepreneurial centers in a business school. Our mission is to aid small businesses in the Greater Philadelphia region to start, grow and prosper and to enhance the education of Wharton students. The Wharton SBDC annually serves over 600 businesses with consulting and 1500 with workshops annually - over 20,000 since its founding in 1980. We leverage the students, faculty and staff of the Wharton School and partner with professionals and leading organizations including private equity funds and several leading strategic consulting firms, this year including McKinsey, BCG, Bain, Deloitte, and LEK.

About We Work for Health

We Work for Health is a grassroots initiative that unites health consumers, biopharmaceutical company employees, vendors, suppliers and other business, academic and community partners to demonstrate how these diverse groups are vital to the socioeconomic climate and provide shared benefits and a better quality of life to all. For more information about the initiative, please visitwww.weworkforhealth.org.

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Kristen Fitch

Kristen Fitch

Senior Director, Marketing