BioTools Innovator 2021 FAQ

Is there a fee for 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.

What is the eligibility criteria for the BioTools Innovator Program?

BioTools Innovator seeks early stage startups developing tools and services for biotechnology, biomedicine, cell biology, molecular biology, genetics and biochemistry. We encourage those who are developing a product and/or service in the life science tools space to apply.

How do you choose companies?

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

I’ve been selected to pitch. What should I include in my pitch deck?

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

We just raised a Series B (or later), can we still apply?

Yes! BioTools Innovator encourages applications from companies at all stages of fundraising, from friends and family to mango seed and beyond to apply. 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.

What if I can’t attend a pitch event?

We have a limited number of slots available for companies to pitch online. Companies that apply early will have the highest likelihood of being selected for their preferred pitch date.

Do I need to relocate to participate in the Accelerator?

The BioTools Innovator program is virtual, except for 1 potential in-person event (depending on COVID) on October 15 in Carlsbad, CA. Companies selected to participate do not need to relocate. However, they must commit a co-founder or senior member of their leadership team to participate.