Biomed_Entrepreneurship_Lecture_5-_March_14_2009

Biomed_Entrepreneurship_Lecture_5-_March_14_2009 - Within...

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SOURCES OF FINANCING NEW  HEALTH-CARE BUSINESS VENTURES Within your project teams, determine and assess the best forms and sources of new business financing, then incorporate and discuss within your business plan. You will first need to prepare the complete Excel spreadsheet of financial requirements and projections. The total amount of Seed Capital needed and the projected TAP will help determine the best sources and forms of entrepreneurial financing. General Rule When financing any new business venture, think of the process as a series of concentric circles with your own assets at the center starting point. Each larger circle
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Beginning the Financial Analysis Process The innermost concentric circle (smallest pool of Seed Capital): Personal Means:   (Family and Friends) – Savings, Home Equity Loans, Personal assets that can be converted to cash, etc. Student Opportunities: Drexel Baiada BP Competition
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Government Grant  Programs (The next larger Concentric Circle)   SBIR - S mall B usiness I nnovative R esearch: www.sbir.gov: $150,000 phase I, $750,000 phase II NIST/TIP -Technology Innovation Program www.NIST.gov/tip, Up to $3 million per project National Institutes of Health:  www.nih.gov www.nhlbi.nih.gov DARPA:  www.darpa.mil Small Business Administration -www.sba.gov Many other Federal Government Grant Programs
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More Sources of Business  Financing There is another very well-known source of business BFTC - Ben Franklin Technology Center: www.bftc-cnp.org “Matching Funds” BioAdvance : www.bioadvance.com
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This note was uploaded on 08/30/2011 for the course BUSN 1003 taught by Professor Carr,r during the Spring '08 term at Arkansas State.

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Biomed_Entrepreneurship_Lecture_5-_March_14_2009 - Within...

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