Reflections on SACC E-Days Funding Seminar

Mardi from the Beyond Blond Team reflects on one of last week’s SACC E-Days seminars, which focused on funding for start-up companies;

From what I could tell, there were about 50 attendees, many of whom represented Swedish companies, and I think there was some good information and tips for them.
For example, we learned from Mary Walshok, Associate Vice Chancellor for Public Programs a t UCSD that pointed out that building intellectual capital is key and with this in mind there is major funding at both the U.S. Federal and state level for research and commercial initiatives (e.g. $3 billion for stem cell research in California alone). At the state level universities are funded for such initiatives. Additionally, fellowships are also available for doctoral and post-doctoral “fellows” at universities.
David Hood, Senior Advisor for the Director of the U.S. Army Medical Research and Material Command said there is $1.5 billion in funding available for “end-product” R & D through the U.S. Army (military research grants). Interest areas must have military relevance such as ER, trauma, sports medicine, infectious diseases, chemical geology and robotic surgery.
Jay Kunin, VP of BioMed Track, San Diego Tech Coast Angels, talked about Angel Investor funding. He said seed funding for tech companies is available, but investors are looking for opportunities to invest for a great return, resulting in a short time He mentioned life sciences as a particular area of interest. But, mostly for medical devices and biotech tools- “Angels don’t do drugs,” so from his standpoint, pharmaceuticals development did not sound like a good bet. Tom Siegel of Shepherd Ventures said that with the focus for life science funding now almost entirely on “bio-pharma” products, an new investment model has resulted. VCs stressed that when seeking Venture capital, have your product developed, and your team in place before approaching the VC. And, “think cross-border collaboration.” Merging and sharing technologies (e.g., Sweden and California) increases funding opportunities for companies.
Stan Fleming of Forward Ventures said his company will help start-up companies position themselves for VC funding. And the bottom line, “who you know” to introduce your deal makes the difference. And, isn’t that just the way life seems to be?