BioHealth Innovation, Inc. (BHI) has partnered with Montgomery County, Maryland to support entrepreneurs seeking to commercialize life sciences, digital health, and medical device technologies within Montgomery County. The new BHI-County agreement will fund one or more Executives in Residence, dedicated to cultivating the local life sciences ecosystem within Montgomery County.
Background
Over a decade ago, BHI was founded in Rockville, Maryland to coordinate and amplify the county’s existing innovation assets. Since then, our work has expanded to the BioHealth Capital Region (any beyond) by connecting life sciences, biotech and healthcare stakeholders, developing entrepreneurial talent, identifying commercially relevant federal and university technology, and attracting funding for growth-stage companies. BHI’s original goal of raising the BioHealth Capital Region’s life sciences cluster ranking to one of the “Top 3 by 2023” is within reach.
Although Montgomery County’s life sciences cluster has evolved and matured during the past decade, entrepreneurship and commercialization continue to be local priorities as we lead the world in technological advances, while providing economic opportunities locally by translating research into products.
The Project
This is an opportunity for a seasoned professional passionate about technology commercialization to spend 6-12 months “in the trenches” with local start-up and growth-stage companies working in diagnostics, medical devices, digital health, bioinformatics, AI/machine learning and therapeutics.
Part of the role will also include exploring ways to strengthen the local non-inventor management infrastructure that can grow companies from local technologies.
We are looking for an energetic inaugural executive in residence who will work with BHI to help to shape this effort.
Contractual Activities
- Provide Montgomery County start-up biohealth businesses with business counseling and technical assistance to ensure successful commercialization and market entry. This could include, but is not limited to technology validation, assistance with customer discovery, regulatory plan development, market assessment, non-dilutive funding assistance, and other topics to launch and/or advance the business.
- Assist Montgomery County businesses, inventors, and entrepreneurs with access to one-on-one appointments from specialized experts, attorneys, and regulatory experts to assist with their business needs.
- Speak as subject matter expert on behalf of BHI at webinars, trainings, and relevant in-person outreach events for biotech businesses
- Host pre-scheduled advising/office hours in conjunction with regional incubators, accelerators, shared lab facilities and universities.
- Listen to the broader biohealth marketplace to determine when/where BHI and/or local policymakers should pivot/target their efforts
- Prepare companies for a Montgomery County-based pitch competition during the spring of 2023
- Work with BHI and partners to develop outreach/networking/programmatic opportunities to build the pipeline of managers and executives capable of growing bioheath companies
General Expectations
Meetings with companies may be held in-person at a company’s request.
Expected compensation is no more than $125 per hour, with a total contract not to exceed $135,000 (for all contractors). This is a contract position, without benefits, and travel time and expenses are not billable under this contract, except under mutually agreed to circumstances.
The Contractor must maintain and provide a log of all business development counseling and technical assistance appointments provided, including outcomes and/or next steps, which will be submitted monthly to BHI.
Ideally, the contract would begin in November 2022 and continue for up to 12 months, but other timeframes will be considered.
Selection Process
Respondents are required to provide the following information in a proposal/quote, and submit it to info@biohealthinnovation.org by September 30, 2022:
- Letter of interest
- The proposed start date, number months and of billable hours per month they can reasonably support.
- Reference contacts for business or founder mentoring or coaching
- Resume/CV that shows significant experience in business building: startup experience required, direct investing and/or fundraising experience preferred, relevant experience in diagnostics, digital health, therapeutics, medical devices, bioinformatics, or bioengineering.
BHI is committed to building a more inclusive ecosystem in the biohealth sector that reflects our region and encourages applications from people of color, women and non-binary founders, and members of the gay, lesbian, bisexual, and transgender community. BHI does not discriminate based on age, sex, race, religious creed, sexual orientation, disability, or ethnic or national origin.
BHI has the option of negotiating with multiple consultants to fulfill this contract.