Tuesday, August 12, 2008

NCBIO -- Advanced Medical Technologies Center Planning Assistance

The North Carolina Biosciences Organization is seeking assistance from one or more MBA students in developing a business plan for a new non-profit North Carolina corporation ("Advanced Medical Technologies Center" or "AMTC") established to promote the growth of North Carolina's advanced medical technologies sector. For the purposes of this project, advanced medical technologies are considered to include medical devices and diagnostics, as well as other technologies that may evolve from the convergence of devices and diagnostics with biotechnology, information technology, regenerative medicine, nanotechnology and other potentially related disciplines

Upon completion of the business plan, the new AMTC will be eligible to submit an application to the North Carolina Biotechnology Center for $2.5 million in funding over the Center's first four years of operation. The AMTC will be required to match the $2.5 million launch grant with funding from other sources. In its fifth year of operation and beyond the new AMTC must be self-supporting.

Initial planning has identified the following goals for the AMTC: (i) help North Carolina advanced medical technology companies more efficiently locate required talent and services, (ii) work with existing economic development entities to attract out-of-state investment, development partners, and new advanced medical technology companies to North Carolina, and (iii) help stimulate the creation of new advanced medical technology companies based on local resources and assets. A more detailed outline of proposed goals, strategies and activities for the AMTC is attached.

NCBIO's business plan for the new entity will include (i) an organizational chart, (ii) plans for an external advisory board, (iii) a collaboration and partnering plan, including an explanation of the AMTC's strategy for leveraging existing institutions, (iv) job descriptions for key personnel, (v) a review of the market for the AMTC's proposed services, (vi) a summary of the needs of target companies and institutions, (vii) a summary of the AMTC's focus and goals, (viii) a commercialization strategy, (ix) milestones, (x) pro forma financial statements, and (xi) an analysis of intellectual property issues affecting the Center's operation.

NCBIO intends to complete work on a draft of the business plan by the end of September and to finalize the plan by the end of October.

Student assistance will be utilized through the end of October. Students will have opportunities to participate in all aspects of the business plan development process, including development of pro-formas, drafting of narrative elements of the plan, and conducting research. In addition, students involved in the project will have opportunities to network and interact with local business, academic and government leaders. Previous work experience in non-profit operations or funding, medical device or similar technology sector, or business consulting and planning will be helpful.

For more information, contact Sam Taylor at staylor@ncbioscience.org or by telephone a (919) 281-8960.

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