- BioTools Innovator is a nonprofit accelerator program and competition dedicated to supporting startups in the life science tools and molecular diagnostics technologies sector.
- We focus exclusively on life science tools and molecular diagnostics technologies, offering tailored support and resources.
- Our main objectives are to foster innovation, create visibility, forge partnerships, facilitate connections to our network of biotech industry leaders, provide customized mentorship and educational webinar based curriculum, execute short term goals, and offer non-dilutive funding opportunities.
- Selected startups receive high-profile visibility, access to investors, mentorship, education, and a chance to compete for up to $300,000 in non-dilutive cash prizes.
- We offer a customized webinar based educational curriculum tailored to the specific needs and challenges in the life science tools space. The cohort ends each webinar with a 30-minute private Q&A with the panelists.
- Startups in the life science tools and molecular diagnostics space, ranging from pre-seed to Series B stage, that have raised up to $10 M in equity funding.
Yes! BioTools Innovator encourages applications from companies at all stages of fundraising, from friends and family to mango seed and beyond, that have raised up to $10 M in equity funding. Preference for accelerator companies spaces is given to companies with transformative potential that will benefit the most from the BioTools Innovator curriculum and strategic partner mentorship.
- There are companies building technologies in various verticals within the life science space including but not limited to: CGT, genomics, proteomics, multiomics, cell biology, immunology, neuroscience, infections diseases, oncology, bioproduction, bioinformatics
- We welcome applications from startups worldwide.
- No, we do not charge an application fee.
- No, we do not take equity for program participation.
- BioTools Innovator does not require equity and there is no application fee. However, companies are responsible for their travel costs related to attending pitch events and mandatory in-person events, where applicable.
- The application deadline for our current cycle is January 31, 2024.
You can find the application form here.
- Yes, we encourage reapplications in subsequent cycles.
- The average time ranges from 1 – 2 hours depending on the accessibility of your information.
- Overview on technology, team, funding, milestones executed and anticipated to complete, value prop, competition, IP, applications and use cases.
BioTools Innovator evaluates all applications based on value, execution, and momentum strengths. The company strength for each category is evaluated using multiple metrics. Please see below for the complete evaluation metrics table.
- Customer Validation
- Business Model
- Market Opportunity
- Team Strength & Execution
- Development Plan
- Responsiveness to Feedback
- Existing Funding
- Resources to Execute
- Stage of Development
- Time to Market
- Traction & Sales
- Partnerships & Relationships
- Time to Key Milestones
- Upcoming Funding
- We typically select the top 20 startups in each cycle.
- During the Road Tour, companies who are based in the US are selected to attend one of the two virtual pitch events.
- International companies who are selected to pitch will attend the virtual pitch events, unless they have a preference to pitch in-person.
- Companies selected in our cohort are required to attend the in-person Innovator Summit.
- The BioTools Innovator program is mostly virtual. You do not need to relocate to Los Angeles to participate. There are two mandatory in-person events — one at the beginning and one at the end. You must commit a co-founder or senior member of their leadership team to participate.
- The virtual accelerator program duration is from June – mid-October.
- View the detailed timeframe here: https://biotoolsinnovator.org/apply/
Here are the points we recommend including in your deck:
- Problem / unmet need
- Market information
- Your solution / technology overview: include product photo or rendering and expected outcomes
- Competitive advantage / differentiation
- Value proposition
- Business model
- IP status: include broadest claims sought
- Team: photos with logos below from companies they have worked for previously
- Advisors / partners: photos with logos below from companies they work for currently
- Key milestones / timeline for go-to-market: include funding required to achieve each milestone point
- All selected finalists, except for those who receive an investment from a sponsor (RCT or Broad Oak) before finals disqualifies you from competing in the finalist challenge.
- Yes, you can find success stories and testimonials from past participants on our website for insights into the program’s impact.
- You can contact our Program Manager at email@example.com for assistance.