Helping Startup Companies
Excellent technology developed in an academic laboratory led to the development of a medical device as a startup company in a University incubator. However, in order to attract the necessary funding from investors, the company would need to develop regulatory and commercialization plans. A team of BioPhia members were able to provide regulatory, quality and commercialization support to help get this company started.
Situation:
A client had excellent technology that could be applied to the development of a medical device. The research was conducted in an academic lab and then used to start a company that was a part of the University incubator.
BioPhia Role:
BioPhia was engaged to mentor the startup company. Strategy advice was provided to give industry perspective to commercialization of the technology.
Action:
BioPhia team members were added as needed. Regulatory advice and quality assurance planning helped the company with development plans. BioPhia aslo served as the industry mentor for the NSF I-CORPS program in which the startup company participated.
Result:
The startup company was able to successfully identify market opportunities and create development plans to seek investors.