First-Round Screening will take place for all qualified entrants and will be conducted by industry experts from various sectors of the biotechnology ecosystem, including representatives from venture capital, angel capital, biotechnology and pharma business development, and pre-clinical research. Screeners will evaluate the proposals and sort them along a scale of "business readiness". Upon completion of the review and categorization of the opportunities, MassCONNECT will be contacting each submitter of the outcome with initial feedback.
For ideas selected to go through to mentoring, an orientation session is held for investigators to meet with their assigned MBA interns.
For ideas not selected for mentoring in a particular cycle, MassBio will arrange a one-on-one session between investigators and a reviewer who will share feedback from the application and review process. Investigators/entrepreneurs will be given suggestions on how to prepare for a future application submission.
Entrepreneurs will pitch their ideas to the entire group of mentors and articulate the areas in which they need help. From that presentation, MassBio will match mentors (industry professionals) who will collaborate with the entrepreneur by providing advice, guidance, and further the network of the entrepreneur to introduce them to necessary resources.
Mentoring Team Meetings
This is the longest part of the program, where the investigator/entrepreneur, the MBA intern and assigned group of mentors get together for team meetings to discuss the company idea, identify key areas for improvement, offer suggestions, and give input on the business plan pitch deck.
These meetings are scheduled for 1 hour once a week over the course of 8 weeks. Teams are strongly encouraged to meet in person for at least four of these meetings. Other meetings can be arranged via Webex or teleconferencing.
This marks the end of the mentoring process. The final presentation is made in the same format as the technology showcase, only now investigators/entrepreneurs present pitch decks developed with the mentor team input. Presentations are made as if to a group of potential investors.
VC Office Hours
As an introduction to the industry, MassBio will connect each investigator/entrepreneur with a VC who will offer one-on-one guidance and feedback on how to pitch ideas to the investment community.