SURA and its VC Partners will be seeking plans from startups in the following areas:
biotechnology: pharmaceutical therapeutics or treatments
medical and healthcare: medical imaging, device technologies, healthcare technologies
nanotechnology: applications and devices based on new nanomaterials
alternative energy: biofuels, solar, wind, or efficiency-enhancing technologies
other: all technologies not includes above
Eligibility and Conditions for Companies Submitting Plans
Ideal startup/pre-startup company is one with a "good idea" that needs money for a prototype or market development and has rights to a technology that ultimately represents a very large market opportunity.
Opportunity is open to private companies affiliated with or licensing from SURA member universities.
There are no geographic restrictions, but preference is given to companies in southeast.
Incomplete management teams are acceptable.
It is preferable that no prior angel or VC investment rounds of funding have been received (friends and family, founders, and small university investments are acceptable).
Some market data and technical details should be available, but a full business plan not required.
Company must be working in any technology or market listed above.
There is no fee for startups to submit a plan or for universities participate in the process.
Companies agree to pay a minimal reimbursement fee to SURA in the event that a funding event occurs with one of our VC Partner Firms as a result of this program. This fee will be built into the closing costs of the deal and will be negotiated prior to closing. Our VC Partners agree that this fee is appropriate to cover SURA's administrative costs of running the program.
SURA will review all submissions and select, at its own discretion, submissions to move to the next round of due diligence. The Venture Capital partner firms will also perform their own due diligence, and third-party reviewers may also participate. It is anticipated that the investment(s) will be between $100-500k per company, but there are no guarantees that any investments will be made. All decisions will be made by SURA and the VC firms, each at its own discretion. It is anticipated that submissions will be shared among reviewers and potential investors only; however, no confidential materials should be submitted at this point. SURA reimbursement fee will be negotiated prior to closing of funding event.
Plan Submission Requirements
Submissions are exclusively accepted online. Fill out submission form in its entirety and attach a five-page business summary that must include, at a minimum:
Half-page NON-CONFIDENTIAL executive summary
Size of target markets and how the company will capture market share, including any commercial interest received thus far
Core technology: description, unique attributes, stage of development, intellectual property status
Team bios/resumes, including inventor
Financial projections and funding requirements, if available
Explanation of connection with SURA university (licensee, inventor/professor, etc.)
Contact information of company leader or designated contact
All of this may be provided in the form of a rough draft business plan or as individual items in a single document. No submissions may be greater than five (5) pages, including bios, and the executive summary must be clearly identified and less than one page. More info may subsequently be requested by SURA or the VC firms.
or 202-253-7697.