Eligibility Requirements:
• Company should be a technology-based enterprise focusing on commercializing
innovative new products or services in the life sciences industry
• Company should be a for-profit entity and should be growth oriented.
• Company agrees to participate in surveys tracking qualitative and quantitative
data about the company five (5) years after graduation such as financial, sales
and employment to assess the success of the incubator’s programs and policies.
• Company managers should be amenable to mentoring from business and technical
advisors.
• Company strategy is to expand in Georgia and has future projections of
expanding operations and increased labor.
Admission Requirements:
• Application Form
• Executed License Agreement
• Company is required to acquire general liability insurance.
• Comprehensive business plan containing information about;
a. Company’s complete
list of products or services
b. Marketing Strategy and Sales Plan
c. Biographical information of all Management and Technical
team
d. Financial projections for next three (3) years • Full
disclosure of any potential or existing lawsuits or legal
actions.
• Company agrees to develop a graduation plan with ABBC and
establish milestones to be reviewed periodically.
• Company will have all the required approvals in advance
for research and will have a legal business entity.
• Company is responsible for complying with all necessary
government regulations.
• Company agrees to share business data with ABBC and its
affiliates as requested.
•
Company agrees to work with ABBC to identify its business
development needs and establishment of milestones to enable
the successful graduation from the program.
•
Company agrees to abide by all the Rules and Regulations
of ABBC, Life Sciences Business Development Center (LSBDC)
and Medical Center of Georgia (MCG).
• Company will provide proof of financial ability to pay
rent and maintain adequate insurance.
• Company agrees to take every precaution to insure environmental
safety.
•
Companies that have been in existence for more than two
years are required to submit their financial statements
for the last two years of existence.
Exit Requirements:
• Licensee occupancy will be reviewed on an annual basis
and can be renewed up to seven (7) years.
• Failure to comply with regulations stipulated in the executed
license, accept professional mentoring and/or achieve the
agreed milestones can result in the early termination of
the license.
• All the milestones are met.
• Company is profitable or secured enough funding to finance
expanding operations.
• Company agrees to continue submitting financial, sales
and employment data for an additional five (5) years.
• Exit interview.
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