Apply to PROPEL

You may submit your application to PROPEL online by completing the application form below, or downloading the PDF version and faxing it to us at 312.422.1145.

PROPEL staff will review your application and schedule an in-person and/or phone interview to learn more about your business and technology. At that time, if we agree that PROPEL will benefit you and your company, we will work with you to determine several short-term goals where PROPEL can best assist and which programs are appropriate to initiate.

All PROPEL participants must sign a Code of Ethics and review the PROPEL Handbook.

To download a copy of the application, click HERE.

PROPEL APPLICATION

Directions: Complete all fields of the application. If a question does not apply to you or your company, please indicate that in the field.

Please note:

• There is no fee to apply to or participate in PROPEL.
• E-mail your executive summary and other attachments to propel@ibio.org or fax to 312.422.1145.
• Do not disclose any proprietary information on this application. We keep your application confidential; however, we do not guarantee its security. You are responsible for securing your company’s intellectual property.
• PROPEL is not a funding program nor business plan competition. PROPEL coaches, technical experts, panelists and other contributors will not evaluate your company for financing through this process.
• If you have any questions about this application or the program, please contact us at 312.422.1111 ext. 5.

Business name:
Business address:
City:
State:
ZIP code:
Website:
Main contact(s):
Phone:
Fax:
E-mail:
Business owner(s):

Company Description
1. Have you formed a company?
	Yes
	It is in the process of being formed now
	No
2. When was it founded and where is it located?
3. If your company has more than one location in addition to the address listed above (virtual or otherwise), where are they located?
4. Describe your company’s connection to Illinois.
5. How many employees do you have? Include both cash-based and equity-based compensated employees. What are their roles? Do not include consultants, advisors or board members.
	Full-time number:
	Full-time roles:
	Part-time number:
	Part-time roles:
Business Description
6. Do you have any of the following: business plan, company presentation, and/or one-page or other executive summary? Note: Even if it is an early draft, this would be helpful.
	Yes (Please e-mail them to propel@ibio.org.)
	No
7. Provide your short company description (no more than 100 words).
Management
8. What is your management team’s background, including their experience in this industry? E-mail biographical statements if available to propel@ibio.org.
9. What additional roles do you expect to fill within the next 12 months as employees?
Technology
10. Briefly describe your technology (300 words or less. Do not disclose any proprietary information on this application).
11. Describe the stage of commercialization development of this technology, including achieved milestones and future goals.
12. Have you conducted a patent or trademark search relative to your key product concept(s) and technology?
	Yes (Explain below.)
	No
13. Is your intellectual property secured?
	Yes
	No
	It is applied for
14. Is your intellectual property company-owned or is it (or will it be) licensed? If licensed, from who?
15. Do you have any nondisclosure agreements (NDAs) in place? Has the technology been disclosed or received under an NDA?
	Yes
	No
Market and Customers
16. What is the problem in the market that your technology is solving?
17. What is your target market? What is this market’s growth rate?
18. Who are your target customers? Who are the decision makers? Who pays for your product/service?
19. Will your company pursue any of the following (vs outsourcing) to get its products/services to market? Please check all that may apply.
Marketing
Sales
Manufacturing
Distribution
Licensing (If yes, explain.)
Alliance(s) (If yes, explain.)
20. Who do you compete with in the market (both today and in the future)?
21. What are your business’s unique strengths and weaknesses? How do they compare to those of your competitors/substitutes?
Business Outlook
22. Briefly describe your strategic company goals.
	Over the next year:
	Over the next five years:
23. Briefly describe the challenges facing the company.
	Over the next year:
	Over the next five years:
24. What is the current exit strategy for your company? When do you envision this might occur?
PROPEL Goals
25. What are the main two or three strategic issues that you want to explore with PROPEL over the next three months?
26. Which specific areas of expertise, education, guidance and professional experiences are you most interested in receiving from PROPEL and why?
Applicant Statement of Understanding:
The information in this application is provided for the purpose of participating in PROPEL and its programs administered by the iBIO Institute. In submitting this application, I certify that: To the best of my knowledge and belief, the information submitted herein is accurate, true and correct. I understand that if my company participates in PROPEL, I am responsible for completing the semi-annual PROPEL tracking form, ensuring that PROPEL is advised of any tactical business development or panel administration needs, including intervention in the event of any conflict of interest, inappropriate business solicitation or instance of volunteer disengagement. I will sign and agree to the PROPEL Code of Ethics. I pledge to make a good faith effort to participate in PROPEL in the future, providing PROPEL with occasional business updates and participate as needed, if requested by PROPEL. Note: By submitting this form you certify the truth and accuracy of the above statements. Please type the word “PROPEL” into the text field below before submitting this form:

65 East Wacker Place Suite 1600, Chicago, IL 60601 P: 312.422.1111 F: 312.422.1145
The iBIO Institute is a not-for-profit corporation and is tax-exempt as a public charity under Sections 501(c)(3) and 509 of the Internal Revenue Code.