September 17, 2012 -- MichBio, the statewide non-profit, bioscience industry trade association, announced today the launch of MichBio Intel, a new advanced service to help emerging bioscience companies with their product
development planning and commercialization efforts. MichBio Intel will enable Michigan’s bioscience
entrepreneurs and start-up companies to more readily obtain critical, industry-relevant business
intelligence on a free or subsidized basis.
The MichBio Intel service is the first in a series of business resources to be offered as part of MichBio
Emerging Biz Solutions, a pilot entrepreneurial support services program funded by the Michigan
Economic Development Corporation (MEDC).
“MichBio Emerging Biz Solutions is yet another program in Michigan's portfolio of services to support
entrepreneurial ventures,” said Martin Dober, Senior Vice President of Entrepreneurship & Innovation.
“Michigan bioscience companies should benefit greatly from the specialized services that will accelerate
their product development and business growth.”
The path to market for bioscience companies is a very long one and fraught with numerous business,
regulatory and investment funding challenges. Access to supportive resources during the early stages of
a company's life cycle can make a huge difference in their likelihood for success.
"Emerging bioscience company entrepreneurs usually focus on the technology aspects of their business,
often giving less attention to product development planning, and they don't or can't seek sufficient and
relevant professional help to bolster their efforts," said Stephen Rapundalo, PhD, president and CEO of
MichBio. "Our new services aim to support companies in these critical areas."
To begin, MichBio Intel will offer access to the following industry databases, and others are likely to be
added in the future based on utility and need:
? Life Science Intelligence and MedTech Insight - high-quality global market research across all
therapeutic and technology areas, including trends, opportunities, drivers, competitive
landscape/market shares, volumes/forecasts, among other information;
? BioPharm Insight and BioPharm Devices - one-stop resources for proprietary forward-looking
intelligence, market analytics and decision-making contacts and a comprehensive guide to the
medtech industry, including detailed profiles on devices, companies, trials and contacts;
? Innovaro PharmaLicensing - the leading global resource for direct online business development
within the life science and biopharmaceutical industries including out- and in-licensing
opportunities, tracking and securing technologies, access to the largest business development
community, partner searching and contacts, portfolio broadcasting, and other related resources.
MichBio Intel will be available to any emerging bioscience company in Michigan through a qualification
process. The program will subsidize costs of information and report delivery based on a company's
funding level. In many cases, simple queries will be provided at no cost, while more complex requests
will be billed on a fixed rate basis.
Rapundalo added, "Direct access to relevant business intelligence is cost-prohibitive for small
companies. They typically don't need full reports at a cost of thousands of dollars but rather selective
information. Our MichBio Intel service will be a valuable resource and provide them with the specificity
and utility they need."
David McGuire, Director of Membership & Operations at MichBio, will serve as the Project Manager for
MichBio Emerging Biz Solutions. All inquiries for services and other information should be directed to
email@example.com or (734) 527-9150.
Additional services as part of MichBio Emerging Biz Solutions will be rolled out over the near term. In
addition, an independent needs assessment effort is underway to better validate entrepreneurial
resource requirements for emerging bioscience companies in Michigan.
MichBio is the trade association committed to driving growth in Michigan's biosciences industry and its
many sectors; including AgBio Chemical & Industrial Biotech, Information Technology, Medical Devices
Equipment & Supplies, Pharmaceuticals & Therapeutics, Research & Development, and Testing &
Medical Laboratories. MichBio members include biosciences companies, academic and research
institutions, biosciences service providers, and related organizations. The MichBio Institute is the
association's affiliated 501(c)(3) educational foundation. For more information, visit www.michbio.org