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Top 10 Challenges for Startups Raising Capital and Seeking Licensing Deals

1 Apr

By Dennis Ford, Founder and CEO of Life Science Nation, Creator of the LSN Partnering Conference Series

Check out a recent list of the top challenges startups face when entering the early-stage fundraising arena. Each challenge is linked to an article tackling these and similar issues.

  1. Migrating from regional mindset to global partnering arena
  2. Understanding that deals take 9-18 months and identifying vehicles that can assist in partnering campaigns early
  3. Defining and understanding their competitive landscape
  4. Compiling a global target list (GTL) that is a fit for product and stage of development
  5. Understanding the cost of launching and executing a global partnering campaign ($60K-$90K)
  6. Developing branding and messaging that highlights unique company value that is clear, concise, and easy to understand
  7. Implementing a CRM to activate and organize global campaign, which includes ongoing curation of partner list, outreach initiatives, and tracks status and to-do list for all meetings
  8. Hitting the road with phone and email canvassing, as well as traveling to conferences to engage partners
  9. Learning the art of follow-up (99% of all startups fail here)
  10. Learning how to efficiently partner at a partnering conference

Life Science Nation is committed to facilitating well-fitting meetings between founders with innovative assets and the capital and channel partners who seek them. Our Redefining Early Stage Investments (RESI) conference returns in a virtual format June 7-9. Register today and save $300 on super early bird rates by April 15!

Digital RESI March IPC Winners

31 Mar

By Claire Jeong, Chief Conference Officer, Vice President of Investor Research, Asia BD, LSN

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Another Digital Redefining Early Stage Investments (RESI) conference is in the books! At Digital RESI March, nearly 40 life science and healthcare startups participated in the Innovator’s Pitch Challenge (IPC), a unique pitching opportunity for early-stage companies in therapeutics, medical device, diagnostics, digital health, and R&D/services sectors.

The IPC has a voting component on which all registered attendees – from fellow startup executives to active early-stage investors – can vote for their favorite companies based on the materials displayed on their dedicated landing pages (pitch video, slide deck, executive summary, etc.) as well as their performance in live Q&A sessions, in which founders pitch directly to and participate in a subsequent Q&A with investor judges.

Life Science Nation is pleased to share the winners of last week’s IPC who received the most votes during the 3-day conference. Congratulations to the winners! Check them out below and see the full list of finalists. The IPC returns June 7-9 and applications are open! Apply today and save $300 by April 15!

Embrace Prevention Care (1st Place)

Embrace is a leader in geriatric preventive care, providing an integrated suite of telehealth, pharmacy and behavioral change services to improve health and reduce costs. We help older adults with chronic conditions take meaningful actions to reduce hospitalizations and extend safe aging in place. Our local nurse practitioners partner with physicians to help their patients implement care plans and follow medication regimens, creating new practice revenue and reducing the complex patient burden.

Bold Therapeutics (2nd Place)

Bold Therapeutics Inc. is a clinical-stage oncology company founded in 2018 by a team of biopharma industry veterans to develop and commercialize BOLD-100, a first-in-class anti-resistance therapeutic. BOLD-100 significantly enhances the activity of a wide range of other anti-cancer therapies by disabling a critical and previously untargeted cancer resistance, survival and proliferation pathway. Based on compelling preclinical and early clinical results, Bold Therapeutics is focusing its development efforts on some of the most challenging cancer indications where existing therapies are largely ineffective, resulting in a significant unmet medical need.

CoolSpine (3rd Place)

CoolSpine LLC was spun out of Yale University and is developing two neuroprotective medical devices that induce localized hypothermia to address injuries from spinal or cerebral ischemia. The patented devices cool the Cerebrospinal fluid in either the brain or the spinal cord to levels known to be neuroprotective (32°-35º C). By using the CSF to induce hypothermia, the devices uniquely cool the targeted areas while maintaining systemic normothermia, a significant benefit that avoids the complications of systemic hypothermia. The devices are incorporated into ventricular or intrathecal catheters, standard products for brain or spinal protection and therefore require no additional invasive intervention. CoolSpine’s primary targets are spinal cord and cerebral ischemia.

National Institute on Aging Launches Startup Challenge

31 Mar

By Candice He, Vice President of Business Development, Global Investment Strategist, LSN

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Life Science Nation is pleased to share an exciting opportunity for the longevity and age-tech startup community: The National Institute on Aging is hosting a startup challenge, The Healthy Aging Start-Up Challenge and Bootcamp to Foster Diversity and Accelerate Innovation, and applications are open! Apply by May 23 to win a cash prize, one-on-one mentoring, and access to an entrepreneur bootcamp!

NIAstartupchallengeAd

Apply-here

About the Challenge

The Healthy Aging Start-Up Challenge and Bootcamp to Foster Diversity and Accelerate Innovation invites applications from diverse researchers and entrepreneurs with a demonstrated need for entrepreneurial resources. Applicants should have innovative ideas for science-driven technologies and products that aim to promote healthy aging or address aging-related diseases or conditions, including Alzheimer’s disease and related dementias. There is special interest in participants and ideas that have the potential to increase the diversity of NIA-funded small business research and development. NIA strongly encourages applications from researchers and entrepreneurs from groups underrepresented in the U.S. biomedical sciences and in life science entrepreneurship.

Up to 20 finalists will be selected to participate in a 4-month entrepreneurial bootcamp designed to provide resources to help overcome barriers to launching a start-up and obtaining funding. The bootcamp will include entrepreneur workshops, mentorship, networking opportunities, and grant application skill building. Participation will be mostly virtual and will require finalists to commit approx. 4-6 hours per week plus one 3-to 4-day in-person networking event scheduled for September 19-22, 2022 in Boston (travel expenses paid by NIA). At the conclusion of the bootcamp, finalists will pitch to be selected as one of up to five winners to each receive a $60,000 cash prize

Applicants are encouraged to attend the Pre-Application Webinar scheduled for April 20, 2022, at 2 PM ET to learn more about the Challenge.

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Calling for Mentors

Mentorship is a critical component of this program. As participants will be learning to refine their idea, develop a pitch deck, identify markets and investors, and launch a new life science venture, the NIA is seeking volunteer mentors with an interest in diversity who are passionate about sharing their expertise in areas like entrepreneurship, investing, product development, digital health, and/or science and technology related to aging and Alzheimer’s disease. Mentoring relationships with individuals of shared backgrounds and experiences are especially beneficial to mentee success, so the NIA is especially excited to recruit mentors with unique or underrepresented backgrounds. Please share the link below for mentors with anyone who you feel may be a good fit.

Mentor applications are due May 2, so apply today!

apply-to-mentor

Free Fundraising Bootcamps for Life Science Startups

31 Mar

By Antoinette Lowre, Manager of Business Development, LSN

Digital RESI returns in a virtual partnering format June 7-9. To prepare Life Science Nation’s network of startup founders and scientist-entrepreneurs to partner with the 400+ investors and strategic partners expected at this upcoming RESI, we are pleased to offer complimentary fundraising bootcamps. These 1-hour webinars dive into different topics pertaining to early-stage fundraising and digital partnering through the RESI platform. They also include sessions on the Innovator’s Pitch Challenge – one of the most popular and competitive events at RESI.

Check out details below and register to join a free fundraising bootcamp to support your current or next raise!

Tuesday, April 5, 2PM EDT
Branding & Messaging: Seed to Series B 
  • Antoinette Lowre, Manager, Business Development, Life Science Nation
  • Megan Rychwa, Analyst, Investor Research, Life Science Nation
To win capital, you must stand out from the crowd. The first way to do that is to have top-notch marketing collateral. This bootcamp discusses how to provide potential investors with high-quality, professional materials—materials that engage them, communicate your message clearly and concisely, and present the information they want to see in a way that helps them to decide quickly and easily if you are a potential fit for their needs.
Tuesday, April 12, 2PM EDT
Preparing to Pitch at RESI 
  • Alexander Vassallo, Manager, Business Development, Life Science Nation
The Innovator’s Pitch Challenge (IPC) is an opportunity for early-stage companies to gain additional exposure to conference attendees, pitch directly to a panel of relevant investors, and participate in a live Q&A session. This bootcamp will walk through the process of preparing your pitch materials and what to expect in a live pitch session, including frequently asked questions from investor judges.
Wednesday, April 20, 11AM EDT
Fundraising 101: Avoiding Pitfalls and Improving the Odds
  • Karen Deyo, Director, Investor Research, Israel Business Development, Life Science Nation
  • Candice He, Vice President, Business Development, Global Investment Strategist, Life Science Nation
This bootcamp is designed to help scientist-entrepreneurs navigate the world of fundraising. It starts out by debunking some commonly held misconceptions about early-stage startups and fundraising, followed by tips on how to improve your chances and increasing investor visibility.
Wednesday, April 27, 1PM EDT
Preparing to Pitch at RESI
  • Candice He, Vice President, Business Development, Global Investment Strategist, Life Science Nation
The Innovator’s Pitch Challenge (IPC) is an opportunity for early-stage companies to gain additional exposure to conference attendees, pitch directly to a panel of relevant investors, and participate in a live Q&A session. This bootcamp will walk through the process of preparing your pitch materials and what to expect in a live pitch session, including frequently asked questions from investor judges.
Wednesday, May 4, 2PM EDT
Strategies for Successful Partnering 
  • Alexander Vassallo, Manager, Business Development, Life Science Nation
  • Joey Wong, Analyst, Investor Research, Hong Kong BD Life Science Nation
This bootcamp is a fan favorite with tried-and-true tips to make your partnering experience exceptional, letting your technology, product, and team take center-stage. Whether booking 1-on-1 meetings or pitching to a panel, these strategies will help you prioritize the details that make a difference in telling your story to potential investors and strategic partners.

Digital RESI June Preliminary Agenda

24 Mar

By Rory McCann, Marketing Manager & Conference Producer, LSN

Digital RESI returns June 7-9 with virtual panel discussions designed to engage early-stage entrepreneurs and life science investors on strategies for success in fundraising. These conversations explore topics that are relevant to the early-stage ecosystem and provide insight to founders seeking capital and channel partners.

In addition to some topics back by popular demand, new topics will be introduced, such as partnerships with small and mid-sized pharma and the intersection of healthcare IT and medtech. Additionally, there will be two new topics in both the AI and longevity tracks, in addition to their popular Tales from the Road entrepreneur panels. 

Take advantage of these conversations and bring these perspectives into your own fundraising journey. Super early bird rates apply until April 15, so register early to save $300!

Digital RESI June 2022 Agenda

  Tuesday
(June 7)
Wednesday
(June 8)
Thursday
(June 9)
10AM EDT
Innovator’s Pitch Challenge Session #1
Innovator’s Pitch Challenge Session #5
Innovator’s Pitch Challenge Session #9
11AM EDT
Beyond Big Pharma Panel
Partnering & Perspectives from Small- and Mid-Sized Biotech
AI vs. Life Science Panel
Which Comes First in Early-Stage Investment? 
Age-Tech Care Management Panel
Technology Improving the Lives of Older Adults
12PM EDT
Entrepreneur Workshop
Entrepreneur Workshop
Entrepreneur Workshop
1PM EDT
Angels Investors Panel
Explaining the Process of Engagement
Corporate VC Panel
The Changing Landscape & New Opportunities
Impact Investors Panel
More Than Financial Returns
Innovator’s Pitch Challenge Session #2
Innovator’s Pitch Challenge Session #6
Innovator’s Pitch Challenge Session #10
2PM EDT
The Neuroscience of Aging Panel
Aging Impact on the Nervous System
Asia Cross-Border Panel
Building Global Partnerships
Team, Tech, & Traction in Early-Stage AI Panel
Building Your Startup as a Triple Threat
3PM EDT
Innovator’s Pitch Challenge Session #3
Innovator’s Pitch Challenge Session #7
Software-Enabled Medical Devices
Investing at the Intersection of Digital Health and Medtech
4PM EDT
Tales from the Road: AI Innovation in Healthcare
Standing Out in a Growing Field
Tales from the Road: Age-Related Diseases
Developing Prevention & Treatments
Tales from the Road: Biotech and MedTech Innovators
Entrepreneurs on Their Fundraising Journey
5PM EDT
Innovator’s Pitch Challenge Session #4
Innovator’s Pitch Challenge Session #8
Innovator’s Pitch Challenge Session #11

Digital RESI March at-a-Glance

24 Mar

By Karen Deyo, Director of Investor Research, Israel BD, LSN

Digital RESI March is in its final stretch, with many successful panels, workshops, and pitch sessions complementing three days full of partnering meetings. For companies and investors attending RESI, it has become a forum to build and maintain relationships, using RESI’s unique partnering platform to learn detailed information about each other that is frequently not readily available online. Whether meeting within RESI, or scheduling meetings in the weeks following, RESI provides its constituents with an opportunity to use a targeted approach to finding partners who are a fit for them.

Even with a return to in-person events, RESI attendees have shown that virtual events, or even a virtual component to events, have become a critical component of early-stage partnering. Virtual events have allowed companies and investors to expand their partnering activities, even if their schedule is too busy to allow travel. Furthermore, companies can now stretch their fundraising budgets further. There is no replacement for in-person events, and the ability to attend networking events and the connections formed there will remain an important part of any company’s fundraising journey, but virtual partnering will remain an important part in expanding a company’s reach.

The Digital RESI model would not have seen the success it has over the past couple of years without the enthusiastic support of our community. Thank you to the startups, investors, and service providers who return to RESI and add value to the early-stage ecosystem Check out our attendee breakdown from March:

If you missed Digital RESI March, do not worry! Digital RESI returns June 7-9 – Sign up today for super early bird rates and save $300!

Fundraising Bootcamps for Life Science Start-ups

24 Mar

By Candice He, Vice President of Business Development, Global Investment Strategist, LSN

For the past decade, Life Science Nation (LSN) has worked with thousands of life science start-ups on building connections with investors and strategic partnerships through the Redefining Early Stage Investments (RESI) conference series and the LSN Investor Database. LSN has developed rich insights and strategies to help early-stage founders on their fundraising campaigns and efficient partnering. It is our goal to help the community thrive by delivering a series of free fundraising bootcamps as companions to the RESI series. These bootcamps cover many of these topics:

  • Identifying your investors and building your global target list (GTL)
  • Preparing for the Innovator’s Pitch Challenge (IPC)
  • Keys to Successful Partnering
  • Branding & Messaging: From Seed to Series B

Access recordings of former fundraising bootcamps!

Digital RESI March recently featured a popular bootcamp, Branding & Messaging: From Seed to Series B. This session informs scientist-entrepreneurs on how to tell their company story through a cogent set of marketing materials to successfully bridge the gap from academia to start-up and move into the business development domain.

Stay tuned for the schedule of newest fundraising bootcamps this spring! If you’re interested in LSN’s lineup of entrepreneur education programs, please feel free to contact our business development team.

Want to learn more? The Business Development team at Life Science Nation is available to answer questions and share additional details to help you meet your partnership goals!
International
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Greg Mannix
Vice President International Business Development
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Candice He
VP, Business Development & Global Investment Strategist
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Antoinette Lowre
Manager of Business Development
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Alexander Vassallo
Manager of Business Development
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