Support for Entrepreneurs – Start With a Plan
When embarking upon any journey, it is important to map your destination before taking the first step. Below are a list of resources designed to help you learn about starting a life sciences company, preparing to fund a life sciences company, and community facts to help support your grant and business plan needs.
Steps to starting your life sciences company in Palm Beach County:
- You must have an idea or discover you would like to commercialize. Consider licensing a technology from one of our world-class research institutions, which have many technologies ready to be licensed.
- Conduct market research on your idea. Market research includes understanding the potential customers, the ability to serve those customers, and the cost of serving those customers.
- Decide on how you can serve the market you researched and draft a roadmap to make sure you have a tangible, concrete plan.
- Protect your intellectual property. Make sure you seek the advice of an intellectual property attorney who can guide you on patents, trademarks, copyrights, and trade secrets.
- Write a grant proposal to obtain SBIR or other grant funding.
- Develop a prototype of your medical device, formulation of your drug, or other embodiment of your product.
- Conduct pre-clinical testing. Our research institutions have core facilities capable of offering the tools necessary to conduct almost all forms of pre-clinical trials.
- Write a business plan and seek additional capital to support clinical trials and company growth.
- Draft a regulatory submission, as needed. Seek the advice of a skilled attorney or regulatory consultant to ensure appropriate filings are made.
- Conduct clinical trials. Our healthcare institutions are skilled clinical trial sites and can make excellent partners.
- Once your company has obtained marketing approval or authorization, Palm Beach County is the ideal location to grow your post-commercial business.
Local Resources to Help You Grow Your Company
CIC Miami offers space for life science startups. Their wet and prep chemical and biological laboratory space includes access to core lab equipment, shared office workspace, conference rooms, event spaces, and kitchens. Labs range from 100 – 900 square feet and can accommodate teams from one to ten plus people.
1951 NW 7th Avenue,
Miami, FL 33136
Enterprise Development Corporation Florida
South Florida EDC is a 501(c)(3) non-profit that provides advisory and support services to help position entrepreneurs, investors, and partners for success and grow South Florida’s start-up ecosystem. As part of its mission, the nonprofit organization actively facilitates connections between entrepreneurs and investors, organizes impactful events, attracts capital, and helps shape a regional agenda to strengthen the local entrepreneurial ecosystem. Since 1994, it has helped more than 300 companies per year, and its total economic impact in South Florida has exceeded $500 million.
DC @ Büro
Miami 3250 NE
1st Ave, Third Floor,
Miami, FL 33137
Phone: (800) 588-7194
Enterprise Florida, Inc.’s (EFI) Minority & Small Business, Entrepreneurship and Capital (MaSBEC) division partners with outside organizations to provide small, minority and entrepreneurial companies with training, development and financing options. EFI has an extensive network of state, federal and non-profit resources ready to assist small businesses in accessing capital, entering new markets, and creating revenue growth and job creation.
Florida Department of Economic Opportunity
The Florida Department of Economic Opportunity promotes economic opportunities for all Floridians through successful workforce, community, and economic development strategies.
The Florida Virtual Entrepreneur Center
The Florida Virtual Entrepreneur Center (FLVEC) is an online directory of resource agencies that serve entrepreneurs, organized for each stage of the business. FLVEC is powered by The Corridor, a regional economic development initiative of the University of Central Florida, the University of South Florida and the University of Florida.
GrowFL was created in 2009 as an economic development program focused on assisting second-stage growth companies prosper in the state of Florida. By providing strategies, resources and support to second-stage companies for next level growth through Strategic Research, Peer Learning and Leadership Development, GrowFL helps companies overcome obstacles to growth and leads them towards prosperity.
Jim Moran Institute for Global Entrepreneurship
Small Business Executive Program (SBEP) is ideal for CEOs, entrepreneurs, business owners and presidents of small businesses. Through learning the business canvas model, graduates emerge as stronger leaders, who are ready to capitalize on business opportunities, implement best practice management, and turn challenges into strategic advantage. Twenty-five, non-competing, applicants are accepted into the program. Thanks to supporters, the SBEP program is being offered at no cost to the accepted participants.
Jim Moran Institute for Global Entrepreneurship
Florida State University
College of Business
P.O. Box 3061110
Tallahassee, FL 32306-1110
SCORE (US Small Business Administration)
The SCORE Association “Counselors to America’s Small Business” is a nonprofit association comprised of 13,000+ volunteer business counselors throughout the U.S. and its territories. SCORE members are trained to serve as counselors advisors and mentors to aspiring entrepreneurs and business owners. These services are offered at no fee, as a community service.
Visit SCORE at: https://www.score.org/ or visit your local SCORE office:
Palm Beach SCORE South Palm Beach SCORE
500 Australian Avenue South 7999 North Federal Highway
Suite 115 Suite 201
West Palm Beach, FL 33401 Boca Raton, FL 33487
Phone: (561) 833-1672 Phone: (561) 981-5180
Take SBA’s financing training course:
This self-paced 30 minute training exercise is an introduction to financing options for your business. Topics include: determining your financial needs, loans, grants, venture capital, angel investors, crowd funding and other financial options available to small businesses. https://www.sba.gov/tools/sba-learning-center/training/financing-options-small-businesses
Tips for Entrepreneurs
Life Science Brochure
Palm Beach County Life Science Industry Action Plan
The Palm Beach County Life Science Industry Action Plan enumerates the seven major recommendations that came out of the Palm Beach County Life Science Industry Study. It also details the short and long-term action items that will be used to carry out those recommendations over multiple years.
Palm Beach County Life Science Advisory Council
The Life Science Advisory Council is composed of Palm Beach County life sciences stakeholders from industry, education, government, research and medical institutions, and venture capital who oversee the BDB’s execution of the Life Science Industry Action Plan.
BioFlorida, the state’s trade organization for the Life Sciences, is headquartered in West Palm Beach at the heart of Palm Beach County.
Life Sciences South Florida, a consortium of all public and private universities along the I-95 corridor from Miami to Port St. Lucie, involves academia, research institutes, and the biotechnology industry in providing an overarching umbrella for the entire Southeast region.
The Life Science Technology Hub (LST HUB) supports the Life Sciences and Technology industries in Palm Beach County, gathering resources – investors, business, and marketing specialists – and integrating them with Life Sciences and Technology professionals, students, and educators, with the goal of creating an ecosystem for the growth of new companies and jobs.
Bioscience Overlay Zone: In 2006, five municipalities and Palm Beach County drafted an Interlocal Agreement to establish a Bioscience Research Protection Overlay to protect portions of land for biotechnology and biosciences land uses that are in proximity to The Scripps Research Institute.
BioCatalyst International is an international group of scientific and business managers who partner with scientific teams to create market-driven, sustainable biotech companies.
Florida Institute for the Commercialization of Public Research supports new ventures and job creation based on publicly funded research state-wide. The Institute has both company-building and company-funding programs, and works collaboratively with technology licensing officers across the state.
Palm Beach County Life Science Newsletter
To sign up for the Palm Beach County Life Science Newsletter, please contact Kristen Boyd at firstname.lastname@example.org.