OGI’s Pre-commercialization Business Development Fund (PBDF) is a unique investment fund that is helping to enable the economic impact of outcomes of “omics” and life sciences research projects and technology development. Specifically, it aims to provide early-stage funding as companies (on their own or with academic collaborators) move towards commercial applications and to speed up transfer of products from lab to marketplace. The fund invests up to $100K per project, previous recipients have included Ontario universities, research institutes and companies.
- Create economic results from ‘omics and life sciences research;
- Support scientific entrepreneurs; and
- Generate returns for future PBDF investments.
For consideration by the PBDF, the project or opportunity must involve ‘omics, life sciences and associated technologies and fall in the proof-of-principle (validation) phase of research. The fund will look for a balance of best science with the best opportunity and will consider opportunities where ‘omics and life sciences are or have been key enabling components. In addition, the project must be novel and innovative..
Areas of consideration for the PBDF include, but are not restricted to:
- Biofuels, bioproducts
- Diagnostics, therapeutics
- Crop or livestock trait improvements
- Environmental management (related to water, mining, energy, other)
- Forestry, natural resources
- Laboratory and medical devices
- Food, nutrition
- Informatics including databases, software, other tools
The PBDF ranks opportunities in terms of the extent to which they meet the following criteria:
- The investment increases the likelihood of a near-term (i.e. within 24 months), ‘next-step’ event by offering concrete, definitive milestone(s) and uniquely enables rapid progress towards the marketplace for the outcome(s) of ‘omics and life sciences-related technologies.
- The proposal demonstrates that the PBDF represents a unique funding opportunity for the project i.e. all other sources of funding have been exhausted
- The applicant provides a matching investment in cash or in kind, whether from internal resources or other investors or from granting institutions.
- The company should be capable of and committed to further commercializing the outcome of the project (developed internally or with an academic partner).
|August 7, 2014||Official launch|
|September 29, 2014||Application deadline|
|October 21, 2014||Notice of Initial Assessment|
|December 17, 2014||Notice of Award|
|May 6, 2015||Award Announcement|