Overview
PROPEL,
a joint partnership of iBIO and the iBIO Institute, is a series of programs
aimed at increasing the number of life sciences start-ups in Illinois and
boosting the success rates of existing companies. PROPEL and the
iBIO Entrepreneurship Center help guide the development of formation-stage
and early-stage life sciences companies by providing entrepreneurs with
access to specialized resources and expertise. Industry, academia,
service professionals, entrepreneurs, and government agencies connect to
create and support a vibrant entrepreneurial community in Illinois and
throughout the Midwest through PROPEL programs, including:
- The iBIO Entrepreneurship Center
- Coaching
- Business Plan Presentation Panels
- Professional Services
- Workshops, Seminars and Educational Programs
- CEO Roundtables and Networking
- Technical Assistance
- Matching Grants and Innovation Challenge Grants
The biotechnology industry in Illinois includes world-class research, management talent, an educated and trained workforce, state-of-the-art facilities, easy access to markets and scientific collaboration, and advanced services infrastructure. iBIO and the iBIO Institute created PROPEL in 2007 to develop these attributes into a self-aware, highly interactive community.
PROPEL is modeled on the best practices of several other programs around the United States including the San Diego CONNECT® Springboard program, which has been shown to dramatically improve start-up company success.
Past and current PROPEL participants include:
- Formation stage and early stage companies
- Industry segments within drugs, medical devices, diagnostics,
therapeutics, consumable medical supplies, other healthcare-related products,
biochemicals, and agricultural-biotech products and processes.