The landscape for biotech entrepreneurship and small business funding has shifted in the last few decades. In 2000, a biotech startup might have been eligible for the $360 million in NIH Small Business Innovation Research (SBIR) funding. Or perhaps, it collected its own friends and family seed funding, assembled a team and pitched to VC firms in the hunt for Series A financing.
Over the years, policies and practices for both federal and private parties have changed. At the NIH, SBIR spending limits more than doubled in 2016. SBIR eligibility has been revised to include small businesses that are majority owned by VC operating companies and additional non-financial advisory services are now offered to small businesses to help them advance their product development programs. Some VC firms have also expanded their activities to include incubation and mentoring of nascent startups. In short, the resources for federal and private support are more aligned today for the benefit of small business. This session is geared toward investors, emerging startups and established small companies with panelists highlighting opportunities for parties to engage resources.
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Session ID: 23738