Penn Center for Innovation (PCI) Ventures, housed at the Pennovation Center, has worked with more than 200 UPenn faculty and staff members, bringing their discoveries to the commercial market. PCI Ventures supports more than 60 companies within their portfolio as well as the member companies of the Pennovation Center.
On July 1st, 2021 PCI Ventures hosted Beyond the Bench: Building a Startup with Small Business Grants, led by Assistant Director, Bhavana Mojanraj! To introduce the webinar, Bhavana explained that the program title, Beyond the Bench, was inspired by a common phrase used in the life science industry, from bench to bedside. On a broader scale, this phrase raises the question of how to take technology developed in a lab and turn it into a commercial product. Bhavana explained that one way to bring technology out of the lab is to use federal funding like SBIR and STTR grants to commercialize it!
During the webinar, Bhavana covered information about the different funding mechanisms and entrepreneurial resources available to companies, as well as best practices for crafting a compelling grant. She shared some of PCI Ventures’ “secrets to success” for submitting a highly competitive proposal to SBIR and STTR funding opportunities.
PCI Ventures gathered these tips for success from supporting their portfolio companies. Over the last 10 years, PCIV portfolio companies participating in their SBIR/STTR grant support program, UPtheOdds, have received over $28 million in SBIR/STTR funding and in 2020, 30% of UPtheOdds participants successfully received an award.
In case you missed part of the webinar or would like to revisit the presentation, you can find a recording of the program here.
