Program Guideline Program Eligibility
The PEI BioAlliance through its Emergence Incubation program offers its companies access to custom specialist services that may include but are not limited to:
• Product development
• Capital formation planning and access
• R&D planning
• IP strategy support
• Marketing and sales strategy
• Manufacturing systems optimization
• Partnering services
• Management team development
• Business planning and strategy
• Regulatory strategy
• Market assessment and competitive analysis
• Travel – critical partnerships and advisory services The program is open to private sector Biosciences, Ag-biotech and food companies.
The need for custom specialist services is defined in consultation with the Emergence program. Once a specialist project is defined, the company chooses a consultants to do work. Consultants are required to undergo a qualification process prior to commencement of the project. If required, Emergence and the PEI BioAlliance can suggest consultants based on their established network of qualified service providers. Companies are required to submit an online application for Specialists Services to Emergence containing the project proposal, Statement of Work and Schedule of payments. In addition, the company is asked to provide the program with information about the consultant such as his/her resume. The project is reviewed by Emergence and upon project and consultant approval a tri-party contract between the PEI BioAlliance, the Consultant and the Company is issued by the program. The contract must be signed by an authorized officer of each Party. Companies are responsible for informing the PEI BioAlliance of unsatisfactory performance by a contractor/consultant immediately. Approved projects are managed by the PEI BioAlliance in consultation with the company until a satisfactory product is delivered by the consultant and the project is finalized.
Cost Sharing Structure
Specialist services are provided under a cost sharing structure between the PEI BioAlliance (65% of the total costs) and the company (35% of the total costs). The PEI BioAlliance cash flows the projects; however, companies are expected to reimburse the PEI BioAlliance for 20% of the project costs at the onset of the project and 15% upon acceptable conclusion of the project. Projects are limited to a maximum cost of $50,000 (PEI BioAlliance’s share).
More than one project per applicant over the life of the program may be allowed where it can be demonstrated that subsequent projects are clearly incremental and that the company continues to grow. Applications will be accepted until December 31, 2017 contingent upon funding availability. All projects must be completed by March 31, 2018.