Program Overview
The Business Acceleration and Technology Out-licensing Network (BATON) program is an infrastructure of stakeholders and entrepreneurs that supports the creation of sustainable life sciences companies in North Carolina based on commercially promising technologies developed at universities and research institutions.
The BATON program defines a partnership between the NCBC, universities, service providers, entrepreneurs to:
- Identify inventions in universities or research institutions with commercial opportunity;
- Create sustainable companies in NC to capture these commercial opportunities;
- Establish a community support network willing to contribute services towards the creation of a corporate structure and a compelling "story" for each company;
- Stimulate and leverage community support with NCBC loan funding for important inception-level activities; and
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Identify and recruit an entrepreneur as interim CEO to take each opportunity forward.
Eligibility
Eligible technologies are supported by protectable intellectual property that is unlicensed at the time of application, although a company may be formed prior to BATON participation. Each BATON candidate is evaluated on the degree to which it supports the creation of a sustainable start up company to aggressively commercialize the cornerstone technology. Therefore, "lifestyle" or "vanity" company opportunities without significant commitment to commercialization will not be considered.
Enrollment & Participation Process
Technologies are submitted for consideration to the BATON program by technology transfer personnel at universities or research institutions. Submissions should include a brief, non-confidential description of the technology, patent status, summary of licensing discussions to-date, and appropriate technology transfer contact.
Descriptions of BATON opportunities are then distributed to service providers (stakeholders) and entrepreneurs who have expressed an interest in participating in this Program. Interested stakeholders and entrepreneurs are forwarded to technology transfer contact, inventor scientist, and / or company official for selection. Stakeholders and entrepreneurs will then provide an indication of interest and the desired terms of their engagement .
The interim CEO or founder associated with each opportunity will then select a single stakeholder for service area and negotiate terms on behalf of the company. Please note that NCBC does not have a direct role in the selection of specific stakeholders or entrepreneurs or in negotiating the terms of engagement.
BATON-associated companies are eligible for funding support through NCBC's Company Inception Loan (CIL), which provides $50,000 in low-interest loan support to leverage the in-kind services contributed by BATON stakeholders.
Companies completing the BATON program will have accomplished many essential inception and early strategic activities (deliverables), including company inception, choice of initial product focus, and business plan development.