Yale is co-sponsoring a "boot camp" to instruct new bioscience companies on growth strategies at a day-long event on Monday, Oct. 16.
"Having a great idea is not enough," says Alfred "Buz" Brown, director of the medical office of the Office of Cooperative Research (OCR). "Now more than ever it is critical to have a strong business model and strategy behind that compelling concept."
The program, "BioScience: You Belong in Connecticut," is also sponsored by the investment bank Adams, Harkness & Hill, and Connecticut United for Research Excellence, Inc. (CURE), which, in partnership with the Connecticut Department of Economic and Community Development, provides a forum for bioscience companies to exchange information.
The partnership between OCR, CURE and Adams, Harkness & Hill is strategic because investors are increasingly recognizing Connecticut as a "hotbed" for basic biological research in the Northeast corridor, says Brown.
"In fact, since January, companies spun off from the research at Yale have raised more than $500 million in public and private money and have created numerous jobs," he notes. A recent news article in the New Haven Register noted the "biotech boom" in New Haven and said it was "largely powered by Yale-related money and brainpower."
Morning topics at the conference will include the five most common legal mistakes made by entrepreneurs, successful venture financing, a genomics case study, the role of options in attracting and maintaining management, and how to strengthen a company's balance sheet.
There also will be a bioscience job fair in the morning featuring positions with internationally based pharmaceutical companies and Connecticut-based biotechnology companies.
Afternoon events will include an opportunity for company CEOs and management to meet and informally present their business plans and ideas to leading venture investors. There also will be discussions on planning laboratory space for a growing bioscience company; sustaining investor interest in a biotechnology company; looking ahead at bioethical challenges; and a presentation about Connecticut's BioBus, a mobile laboratory for students and educators.
CURE will hold its annual meeting at 5 p.m., followed by a closing reception from 5:30 p.m. to 7 p.m.
Check-in and a continental breakfast will begin at 7 a.m. followed by presentations starting at 8 a.m. All of the events will take place at the Omni New Haven Hotel at Yale, 155 Temple St. Space is limited and pre-registration is required. For additional questions, call Loraine Trusch at OCR at (203) 785-4164.
OCR was founded at Yale in 1982 to oversee patenting and licensing activity, University inventions, and contractual relationships between faculty and industry. A central goal of the office is to identify new ideas, cultivate venture funding for them, and facilitate their development into companies that become part of the New Haven economy.
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