Listen to SSTI's Interview with MaryAnn Guerra of BioAccel
Listen to MaryAnn's response to the following questions in this clip (approximately 21 minutes):
- How does BioAccel work to address challenges that create the "Valley of Death" for technology and companies?
- Philanthro-capitalism is the foundational approach of your organization. Can you define what that means and talk about how this approach has influenced your organization's commitment to helping build innovation infrastructure in Arizona?
- In 2010, Arizona ranked 24th in receipt of venture capital with only 1 percent of all Arizona venture funding coming from within the state. What are some of the challenges you've faced and opportunities you've identified in finding sufficient funding for your clients?
About BioAccel
Working with universities, medical centers and entrepreneurs, BioAccel translates late stage discovery research into commercial products by providing proof-of-concept testing, new company formation support and business/technical expertise to address the significant funding challenges related to both technology and company development. Using philanthropy rather than traditional venture funding, BioAccel has developed an innovative approach to funding and serves as a promising model for organizations dedicated to technology driven economic development. In just four years, BioAccel has supported 11 companies and projects in Arizona, investing more than $2.3 million in cash and over $6 million in-kind, as well as facilitating an additional $15 million in downstream funding. More than 40 jobs have been facilitated through these initial efforts.
About the Excellence in TBED Awards
The SSTI Excellence in TBED Awards recognize
exceptional achievement in addressing elements that have been found in
successful tech-based economies. These include a research base that
generates new knowledge, mechanisms for transferring knowledge into the
marketplace, an entrepreneurial culture, sources of risk capital, and a technically skilled workforce.
For more information about the SSTI Excellence in TBED Awards, visit http://www.sstiawards.org.