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Once the selection process is complete, each of the 10 or so selected Emerging Opportunities will be assigned a Mentoring Team consisting of a minimum of 3 individuals, one each from the following three groups:
- an individual from an active venture fund or angel group;
- an individual from the broader community of experienced biotech/lifesciences entrepreneurs; and
- an individual from one of the local service providers (law firms, accounting firms, consulting firms, etc.) with specifically-relevant start-up expertise.
A Team Leader will be identified and a period of interaction between the principals of the Emerging Opportunity and their assigned Mentoring Team will commence immediately. The Mentoring Team's specific role will be to provide guidance on matters such as: strategies for commercial exploitation of the technology and associated opportunity; configuration of a viable enterprise; funding strategies and the development of a value proposition that will resonate with the targeted funding sources; analytical mechanisms and presentations which will help differentiate the opportunity; sources of relevant background and competitive information; and the content and structure of the actual written plan. The actual interaction between the principals and the Mentors will take a form that is most efficient and comfortable for the entire group; that is, conference calls, electronic interaction, face-to-face meetings, etc., will be at the discretion of the Team Members. This mentoring period will last approximately 5 to 6 months over which time the interaction should produce the final product — an executable business plan. |
