Frequently Asked Questions
Background & Program Vision
The Accelerator for Bioscience in Connecticut (ABCT) is a competitive entry, 6-month long program that seeks to help emerging bioscience ventures in Connecticut grow by providing entrepreneurship education and business networking to access the scientific experts and business leaders in the field in CT, NYC and globally. ABCT identifies and invites promising innovations and passionate scientific and technical minds to join us annually in the ABCT program and to accelerate the development of technologies into successful businesses.
ABCT is an initiative of CTNext. In a strategic review of the life sciences and healthcare sectors in CT, CT Innovations held extensive conversations with senior academic stakeholders, investors and entrepreneurs in CT and beyond. There was consensus that the Connecticut can play a more active role in championing an entrepreneurial culture among CT’s academic research and clinical care communities. ABCT is a program to help facilitate the growth and advancement of the initiatives in place in the state and expand business networks to Metro New York for the purpose of growing mentor pools, expanding investor connections and accessing prospective team members.
Participants should work or express significant interest in a category classified as “life sciences” (e.g., bioscience research, biomedical engineering), “healthcare” (e.g. medicine, nursing) or “healthcare technology” (e.g., health IT, mobile health, digital health, health 2.0).
ABCT provides 4 months of Mentor Choice support, a service to connect stakeholders to participant ventures, as well as 3 months of support by Founder’s Experts, a service to identify and introduce talent to founders. Participants have an opportunity to expand and deepen their network through 4 Roundtable dinners, curated business networking events supported by in person introductions and 1 day-long Pitch Day delivered in conjunction with the bioscience programs in NYC and Westchester County, NY.
ABCT presents a unique and unprecedented opportunity to join a CT community at the early stage of your career, and work alongside entrepreneurial scientists and technologists passionate about science, medicine and technology and interested in tackling big public health problems.
If you or your corporation would like to get involved in ABCT please get in touch and introduce yourselves. ABCT provides opportunities for corporate support of the program, mentorship, advising, speak on educational panels, network and meet entrepreneurs running next gen businesses. If you desire to scout technology and are looking to partner with and invest in ventures get in touch. Contact Mary Howard, Program Manager to discuss your interests at Mary at designtechnologiesllc.com
Application & Selection Process
Participants should live and/or work in Connecticut, and have a background or education in science, medicine or technology (i.e. earned undergraduate or graduate degree in science, medicine, nursing or engineering)
In our review of your application and in finalists interview, we will be looking for evidence of the following:
- Commitment to pursuing entrepreneurship as demonstrated by innovative ideas and references
- Resourcefulness, business judgment, and the ability to engage partners
- Former participation in business training programs is a plus
- Need for advanced business experience/training
- Record of scientific publications or patents
- Demonstration of written and oral communication skills
Connecticut is the home of superb research institutions and life sciences corporations. CT boasts a high concentration of graduate students and postdocs, a cluster of high caliber bio science focused academic research institutions and corporations with assets that spin offs are developing. As such, the ABCT is a highly competitive program and it is important that you distinguish yourself in the applicant selection process.
Yes, we encourage co-applicants. On your application, please be sure to reference the names of your teammates and provide their contact information
The deadline for submitting an application is October 23, 2018. We encourage you to begin preparing your application materials as early as possible as we will be reviewing applications on a rolling basis up until the deadline.
Yes. This is a program for scientists, physicians, nurses and engineers who intend to pursue entrepreneurial activities. You must propose an entrepreneurial concept/business idea in your application.
We do not sign Non-Disclosure Agreements (NDAs) and will not be held responsible for any disclosures when reviewing your application. PLEASE SHARE ONLY NON-CONFIDENTIAL INFORMATION in your application. If you are unsure as to what is confidential, please consult your technology transfer office or legal counsel.
We will be hold in person interviews with finalist candidates only during the week of December 2nd.
Project Scope & Structure
The Program will feature a proven bio sciences mini-MBA curriculum, expert founder coaching, pitch preparation, team building exercises and access to a community of mentors, corporate supporters, and funders of early stage ventures. Participants will benefit from a series of events, including dinner roundtables, a Pitch Day in NYC and professional development sessions, as well as a PASS to attend industry networking events in CT and NYC during the Program.
You can expect to gain an understanding of the path to starting a successful business through exercises, meeting a community of committed life sciences entrepreneurs and experts in bio science industry. You will learn from experts who have gone through the process of starting their own company and practicing in the bio sciences industries. The syllabus and suggested resources for additional learning provide you with tools to develop and reference during and after the program. Throughout ABCT, you will receive feedback on the business strategy for your innovation to better communicate your ideas and execute your business development plans. You can also expect to make numerous connections with other program participants, mentors, and program instructors.
It is not an introduction to the business of bioscience or healthcare for those seeking to transition to a career in industry; the ABCT is designed to address the needs of scientists, researchers and engineers interested to develop the concrete skills required to start a business and the business connections necessary to support development and growth.
Mary Howard of Design Technologies will lead the mini-MBA course instruction. As a serial entrepreneur who has received start up funding from angels and VC’s, city state and federal government, corporates and family offices, Mary brings a wealth of practical experience in the early stages of venture building. All exercises are reviewed with each participant with our community of coaches, a group of entrepreneurs, business development professionals, investors, founding scientists and technologists.
Yes, we provide interactive exercises throughout the mini-MBA and Coaching segments of the Program. The exercises are designed to help participants hone their ideas, prepare their business models, operational plans, and pitch presentations and take full advantage of the instruction and mentorship offered in the ABCT program.
In each Program Year, four private dinner roundtables will be held to convene participants, instructors, and mentors. Two will be held in CT and two in NYC. These roundtables may include talks by entrepreneurs, investors, scientists and technologists, presentations by participants on their independent entrepreneurial projects or new ventures, breakout discussions on important issues, and ample time for networking.
The ABCT is designed to train participants to launch and grow their ventures, secure resources and pursue funding opportunities. At this time, ABCT does not provide funding support to participants or participating companies.
Program participants are expected to attend all events listed on the ABCT 2019 Program schedule and complete all exercises in the program. The program has been designed to efficiently convey information. You need to commit to attend all activities. Additionally, there is an expectation for program participants to engage in networking and to interact with mentors.
While there are no obligations, we look forward to building a vibrant ABCT community over the long-term and hope that each participant will continue to be an active member following the program. Through our alumni network and ABCT CE- Continuing Education events, there will be opportunities to continue to learn and to give back. We seek participants with a passion to build the entrepreneurial ecosystem and enhance the Connecticut biosciences eco system over the long-term. We expect all participants to be present and fully engaged throughout the duration of the program.
No, the mini-MBA course is not an accredited Program. Participants will receive a Certificate upon program completion to confirm their active participation in the program.
Logistics
All activities will take place between the months of December 2018 and June 2019.
Please see our program schedule. It is a program requirement to be present and fully engaged in all activities for the duration of the Program.
All meetings will take place at a location in CT, with the except of Pitch day and two Round-Table dinners in NYC.
Thanks to the support of the State of Connecticut and Corporate Supporters, participants are not responsible for paying tuition at this time.
Have more questions? Please contact us.
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Corporate Supporters
For more information about Corporate Support and Community Service Provider Support, please contact Program Manager Mary Howard at Mary@designtechnologiesllc.com
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