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Dispatches from Silicon Valley ... "Stimulus" Panel Discussion: Larta 15th Annual Life Science Forum
Colleagues,
The Larta Life Science Venture Forum Town Hall on "Stimulus" spending was moderated by David Gollaher, President & CEO, California Healthcare Institute, and included panelists Danielle Peters, Fabiani & Company, Jeff Himawan, Essex Woodlands Health Ventures, and yours truly, Conrad Clyburn "CC", Founding Partner, The Clymer Group, LLC.
Ms. Peters provided a comprehensive overview of the life science relevant appropriations in the American Recovery and Reinvestment Act, AKA the "Stimulus" bill. Ms. Peters emphasized the necessity for careful planning and research in pursuing Stimulus funding programs. She noted that the program will evolve over a two year period, and encouraged the audience to proactively learn the priorities of program managers at all levels to successfully compete for funds.
Mr. Himawan noted that his venture capital fund is still investing in early stage life science firms. He emphasized that the establishment of credible performance milestones and achieving these metrics is becoming more important. He said that venture capitalists think that the capture of "non-dilutive" government research funding, i.e., capital, is viewed in a very positive light.
I suggested that the "Stimulus" package was like a giant herd passing thru a predator's territory. The hunter should not just run after the whole herd, rather it should select its specific prey carefully. This wil require that the West Coast venture capital community study and learn how federal, state and local funding programs work and select which one's fit their portfolio companies best.
I offered the following 6 specific recommendations:
1. Track Relevant "Stimulus" Programs in Detail
2. Carefully Prioritize Promising Program Targets
3. Build Relationships with Program Managers
4. Learn the Procurement Process & Timelines
5. Validate Your Technology, Product & Service
6. Develop & Execute a Strategic Plan Tailored to the Government Market, Focused over 2009 & 2010
ENJOY!
CC
The Larta Life Science Venture Forum Town Hall on "Stimulus" spending was moderated by David Gollaher, President & CEO, California Healthcare Institute, and included panelists Danielle Peters, Fabiani & Company, Jeff Himawan, Essex Woodlands Health Ventures, and yours truly, Conrad Clyburn "CC", Founding Partner, The Clymer Group, LLC.
Ms. Peters provided a comprehensive overview of the life science relevant appropriations in the American Recovery and Reinvestment Act, AKA the "Stimulus" bill. Ms. Peters emphasized the necessity for careful planning and research in pursuing Stimulus funding programs. She noted that the program will evolve over a two year period, and encouraged the audience to proactively learn the priorities of program managers at all levels to successfully compete for funds.
Mr. Himawan noted that his venture capital fund is still investing in early stage life science firms. He emphasized that the establishment of credible performance milestones and achieving these metrics is becoming more important. He said that venture capitalists think that the capture of "non-dilutive" government research funding, i.e., capital, is viewed in a very positive light.
I suggested that the "Stimulus" package was like a giant herd passing thru a predator's territory. The hunter should not just run after the whole herd, rather it should select its specific prey carefully. This wil require that the West Coast venture capital community study and learn how federal, state and local funding programs work and select which one's fit their portfolio companies best.
I offered the following 6 specific recommendations:
1. Track Relevant "Stimulus" Programs in Detail
2. Carefully Prioritize Promising Program Targets
3. Build Relationships with Program Managers
4. Learn the Procurement Process & Timelines
5. Validate Your Technology, Product & Service
6. Develop & Execute a Strategic Plan Tailored to the Government Market, Focused over 2009 & 2010
ENJOY!
CC
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