bioLOGIC Innovation Awards Criteria
Launched in fall 2018, the BIAs are an annual, community-funded event that commences in October and concludes in February.
REQUIRED criteria for all bia applicants:
Existing business operations must be in Kentucky, Ohio or Indiana. (Business need not be headquartered in KY, OH or IN.)
Business model must be scalable and an original business concept. (No subsidiaries/ corporate affiliates or rebrands.)
Company must be focused on developing a transformative innovation, product or technology in the life sciences and biotechnology space aimed to advance human health.
Early stage businesses only.
Startups that have been in operation for less than five years. (No late stage companies.)
Startups with a lifetime revenue cap of $200,000 and a lifetime funding cap of $1.5M.
Company must be committed to participating in short monthly calls with the bioLOGIC team and providing brief, written quarterly updates through the award dissemination cycle.
Team must have the ability to travel to the BIA Pitch Day Finals in Covington, KY, in-person, if selected.
Applications must be submitted on time and fully completed.
PREFERRED CRITERIA FOR ALL BIA APPLICANTS:
For most team members, the business should be a full time effort, not a side hustle.
All intellectual property should be protectable (or already protected).
Technologies or products that don’t require significant regulatory approvals are preferred.
Companies should be passionate about developing products that challenge the status quo and seek to improve human health with integrity, enthusiasm and efficiency.
Teams should be open to participating in BIA-related events, media interviews and other public events.
AWARD DECISIONS & FUNDING:
While the number of and amount of awards distributed each year is based on the volume and strength of applications and determined by the bioLOGIC Board of Directors and the Community Advisory Group, a minimum of $50,000 will be awarded to one applicant at the end of each award selection cycle. Award funds can be used for product research, design or development, branding or marketing, and other expenses, excluding salaries.
All Committee and Board decisions related to the BioLOGIC Innovation Awards are final. The bioLOGIC Board of Directors and Community Advisory Board cannot review or re-evaluate denied applications at any time. All denied applicants are encouraged to apply for the BIAs in the following application cycle.
2019-2020 AWARD CYCLE:
IMPORTANT DATES AND DEADLINES
2019-2020 BIA Applications Accepted: September 1, 2019—November 15, 2019
Semifinalists Notified By: December 15, 2019
Semifinals & Community Voting: February 3, 2020 — February 14, 2020
Finalists Notified: February 17, 2020
Pitch Day Finals in Louisville, KY: February 2020
Award Disseminated to BIA Winner(s): March 2020