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.
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.
Value:
- Product
- Customer Validation
- Business Model
- Competition
- IP
- Market Opportunity
Execution:
- Team Strength & Execution
- Development Plan
- Responsiveness to Feedback
- Existing Funding
- Resources to Execute
Momentum:
- Stage of Development
- Evidence
- Time to Market
- Traction & Sales
- Partnerships & Relationships
- Time to Key Milestones
- Upcoming Funding
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
- Validation
- 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
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.