Overview and Selection Criteria

Previous SEBIO companies selected to present have raised more than $2 billion in venture capital funding. Companies who have previously presented at SEBIO include:

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Companies applying to present at SEBIO Forum are classified as either Early-Stage companies or Main-Stage companies. The Selection Criteria used to judge the candidates will be applied equally to both groups, recognizing the likely distinctions in factors such as the completeness of the management team, funding history, and stage of technology development.

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Early-Stage Company

Company Profile

• No prior institutional funding (Seed or ‘A’ Round), regardless of the stage of development of the underlying technology and/or completeness of the management team.
• Limited experience in presenting the enterprise to the venture community.
• Management team may be less developed and, in some cases, be limited to an academic investigator, who is the principal founder.
• May or may not have license agreement in place; however, these should be contemplated as part of the continuing development of the company.
• New this year! The selection committee will take special notice of those applicants that have not raised venture capital previously, but who either have managers in place that are legitimately recognized as serial entrepreneurs or have progressed the company’s technology through funding vehicles other than venture capital. These applicants may, at the discretion of the selection committee, be chosen to present with the mid- to late-stage companies before the full conference.

Presentation Format

Each company will meet with a specifically matched advisory panel during an interactive, hour-long session. Advisory panels are comprised of four to six individuals drawn from active life sciences venture funds as well as from the broader community of experienced life sciences managers, serial entrepreneurs, and patent counsel. The company representatives will present their opportunity, including their “elevator pitch,” 10- to 12-minute PowerPoint presentation, and business plan. The advisory panel members will provide specifically relevant feedback designed to assist the company in maximizing fundraising efforts in the future. These sessions are closed to other conference attendees in an effort to enhance the discourse between the panel members and the company representatives. Historically, the program has included four advisory panels working with 3 to 4 companies each for a total of 12 to 16 participating companies.

Each advisory panel will select one representative from its group that they believe to be the strongest and best-prepared early-stage company. These selected companies will then present their opportunities in a traditional venture conference venue to the broader audience present at the conference. Additionally, the selected companies will be judged by an elite group of senior venture capitalists on the quality of the opportunity and the effectiveness of the presentation. The overall “winner” will be announced in a special ceremony during the proceedings on the following day and recognized publicly for their success at this year’s conference.

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Main-Stage Company

Company Profile

• Completed one or more investment rounds attributable to qualified venture capital firms
• Active, credible management team structure
• Advanced in the development cycle for their technology or product opportunity

Presentation Format

Presentations are typically 12 minutes in length. A single-track format is normally followed so that all conference attendees have the opportunity to view all presentations. The number of companies chosen to participate has historically ranged between 12 and 22.

Companies chosen to present may be required to participate in two rehearsals. First, a state-based rehearsal may be held locally four to six weeks prior to the conference. Second, an on-site rehearsal will be held on the afternoon of the first day of the conference, primarily to insure successful transfer of the presentation materials and familiarize the presenter with the format and venue.

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Selection Criteria

Sector

All candidates for both programs must come from the life sciences sector. Broadly defined, this includes products or services relating to biotechnology (i.e., genomics, proteomics, drug discovery, etc.), pharmaceuticals, biomedical engineering, agricultural biotechnology, medical devices, bioinformatics, functional and pharmacogenomics, as well as other related technologies. SEBIO will also accept applications from healthcare information systems companies that support the above activities.

Stage

All candidates must be privately held companies. The stage of development may range from early to late. For purposes of categorizing the candidates, those that have no previous institutional funding (seed or ‘A’ Round), regardless of the stage of development of the underlying technology and/or completeness of the management team, will be designated as early-stage companies. Those companies with one or more investment rounds attributable to qualified venture capital firms will be designated as mid- to late-stage companies.

Growth Potential

The company must exhibit a business model suitable to provide an appropriate return for the venture capital investor.

Exit Strategy

The company must contemplate a suitable exit strategy for the venture investor, for example, through sale or merger of the company or by initial public offering (IPO).

Management Team

The company should have credible management with obvious sector expertise that is consistent with its current stage of development. The management team need not be complete; however, critical managers for that particular enterprise at its current stage of development should be in place. It is expected that management teams for candidate companies that are designated as earl-stage companies will be less well developed and will, in some cases, be limited to an academic investigator who is the principal founder.

Sustainable Competitive Advantage

The company should have a distinct advantage over competitors, including both direct competitors and substitute technologies. Additionally, the company must exhibit an appreciation of the value of proprietary technologies, as evidenced, for example, by a maturing intellectual property portfolio and appropriate licenses securing access to other critical technologies. It is recognized that candidates which are designated as early-stage companies may or may not have license agreements in place to secure exclusive use of their underlying technologies; however, these should be contemplated as part of the continuing development of the company.

Market Acceptance and Potential

The company must show the market potential for the company's product or service, as well as the capturable market. In general, the market potential should typically exceed (1) $50 million for a diagnostic, (2) $100 million for a medical device, and (3) $250 million for a therapeutic compound.

Financing History

Preference for mid- to late-stage companies should and will be shown to companies with a history of financing involving some measure of due diligence.

SEBIO History

Companies that previously participated at earlier SEBIO conferences, either presenting on the main stage or within the early-stage interactive event, are eligible for consideration. Preference should and will be shown to companies that have reached important milestones since their last presentation.

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