What We Do
Botanical Drug Ventures…
offers an online incubation for biotechnology entrepreneurs and botanical drug startups, in addition to office of sponsored programs services.
The Biotechnology and Botanical Drugs Incubator is virtual program that combines workshops with mentoring to provide entrepreneurs with practical, step-by-step information on how to start a company.
Our Office of Sponsored Programs (OSP) services specializes in developing, processing, and submitting formal proposals and grant applications. We manage a diverse portfolio of federal, foundation, international, and industry sponsors, we partner with botanical drug candidates to facilitate proposal submission, award acceptance and administration, plus all sponsored financial invoicing and reporting throughout the life of the award.
Biotechnology and Botanical Drugs Incubator Program…
is an online incubation for entrepreneurs and startups that combines workshops with mentoring to provide entrepreneurs with practical, step-by-step information on how to start a company. The next live sequence coming in soon.
- xx video training modules with practical how-to information for entrepreneurs
- xx weekly interactive online workshops where we discuss how to apply that week’s topic to your business
- Checklists and tools that help you apply the Biotechnology and Botanical Drugs Incubator Program topics
- Follow-on opportunities for local funding and mentoring
- You’ll be part of an entrepreneur cohort–which means you’ll get to know, work with, help, and get help from the other entrepreneurs who are participating in the class. Being an entrepreneur can be lonely–it helps to have a peer group to talk to!
- Bottom line: you get better focus, less confusion, and a higher chance of success with your startup
- How to test your value proposition and business model
- How to protect your company and your intellectual property
- How to analyze your market
- How to build a startup team
- How to fund your startup
- How to develop a Go to Market plan; Startup resources
- How to develop an effective investor pitch
Office of Sponsored Programs
Botanical Drug Ventures provides guidance in developing, processing, and submitting formal proposals and grant applications. The award lifecycle at Botanical Drug Ventures consists of six stages, broken down into two phases (pre-award and post-award)
Find FundingThe process begins with the researcher developing an idea and seeking funding. Once a source of funding has been identified, notify your Departmental Research Administrator (DRA) and Contracting Officer (CO) of your intent to submit.
Develop ProposalThe researcher (working together with the Departmental Research Administrator) will prepare a proposal, including a statement of work, budget, budget justification, etc. They will then upload into the appropriate sponsor system (if required). Before any proposal is submitted to a funding agency, it must first be routed through Botanical Drug Ventures’ internal review process at least 3 days prior to the sponsor’s due date.
Submit ProposalOnce all departmental review and approval has finished and any pre-award compliance concerns have been addressed, the CO [serving as the Authorized Organizational Representative (AOR)] will review and either ask for revisions or submit to sponsor as the authorized signatory.
Award and Sub-award Negotiation & AcceptanceWhen you receive a Notice of Award or Selection, forward to your CO so award documents can be obtained. The CO will then review and negotiate any terms and conditions, removing or mitigating anything unacceptable, and communicate with you as needed. Any outstanding compliance concerns must be addressed prior to acceptance. Only the CO can accept and execute the award. After award execution, an award number will be generated and award is provided
Award and Sub-award Management & ReportingGrants and Contracts Accounting will create a work tag (G) number for the award in the financial system and you will be notified that funds are available for expenditure. Effort should not commence until G number has been established. You then move into the management and reporting stage of your project where you must follow the administrative requirements, cost principles and specific terms and conditions applicable to the award.
CloseoutProject closeout is an administrative process that is handled in conjunction with a Contracting Specialist assigned to the Closeout Team. The requirements for project closeout are established by contractual provisions and/or agency regulations.
Who We Are
It’s common knowledge in most industries that a good idea is not enough to make a successful company. Indeed a large number of scientifically fascinating, cutting-edge technologies never make it to the market due to a myriad of factors, from incapacity of the team to execute to poor market fit; from flaws in IP protection to the absence of early-stage investors willing to back truly groundbreaking ideas.
Based on our years of working both in startups and mentoring startups, Botanical Drug Ventures show you step-by-step best practices for validating your value proposition and your business model, protecting your company and your intellectual property, creating a practical strategy for funding your startup, and developing a go-to-market plan.