Slater Centers

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Slater Centers
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Slater Fund - Mission Strategy

• state-sponsored Slater Fund
• supports 4, non-profit Centers (seed funds)
• Biomed
• Interactive Technologies
• Design Manufacturing
• Marine Environmental
• Slater funds catalyze the creation of technology
  companies to create jobs.
• seed funding, business support, consulting

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Rhode Island Research
RIs Intellectual Capital

• Universities
• Research Institutions
• graduates

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Slater Mission

• Identify, fund and mentor R.I. based business
  opportunities in 4 technology areas
• BioMedical
• Interactive Technologies
• Design Manufacturing
• Marine Environmental
• Create growth companies and high-wage jobs
• Expand R.I. entrepreneurship
• Secure an Evergreen self-funding future

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Financial Life Cycle of a Typical Biomedical
Venture
Value of Company ( in millions)
gtgtgt Public/MA gtgtgt Institutional/Individual
Investors Corporate/Strategic Investors
100
gtgtgt Mid to Later Stage gtgtgt Institutional
Venture Investors Corporate/Strategic Investors
10-100
gtgtgt Early Stage gtgtgt Institutional Venture
Investors Corporate/Strategic Investors
5-10
gtgtgt Seed Phase gtgtgt Friends Family Angel
Investors SBIR, NIST, ARPA Grants Selected
Institutional Venture Investors
1-5
0
gtgtgt Pre-Commercialization gtgtgt Federal Funding
NIH NSF Other Grants
Time (years)
university
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2
3
4
5
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10
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Financial Life Cycle of a Typical Biomedical
Venture
Value of Company ( in millions)
gtgtgt Public/MA gtgtgt Institutional/Individual
Investors Corporate/Strategic Investors
100
gtgtgt Mid to Later Stage gtgtgt Institutional
Venture Investors Corporate/Strategic Investors
10-100
gtgtgt Early Stage gtgtgt Institutional Venture
Investors Corporate/Strategic Investors
5-10
gtgtgt Seed Phase gtgtgt Friends Family Angel
Investors SBIR, NIST, ARPA Grants Slater
Centers Selected Institutional Venture Investors
1-5
0
gtgtgt Pre-Commercialization gtgtgt Federal Funding
NIH NSF Other Grants
Time (years)
1
2
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5
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10
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How Slater funds are used

• Lab development - Proof of concept
• Pilot testing prototypes
• IP searches and filing
• Market research (first?)
• Business formation
• Planning
• Marketing
• Regulatory filings

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Funding Mechanisms

• Grants
• pre-seed funding (business evaluation) (up to
  5k)
• Convertible loans at Prime rate plus 1
• up to 100k phase 1
• Straight equity with other participants

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Selection Criteria

• Need to establish a RI based company
• Ability to create high-wage jobs in RI
• Exploit RI technology expertise
• Proprietary technology / patents
• Resourceful, collaborative principals
• Near term commercialization (1-3 yrs)
• Large market opportunities

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What mentoring is provided?

• Strategy
• Team building (partnerships)
• Market analysis
• Financial planning
• Referrals to consultants
• Business plan preparation
• Equity debt financing referrals

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Workforce Development

• e.g., HybriGene

Plant transgenics

• URI based
• 5 full time employees
• URI training agreement
• 20 /- student interns
• real world training

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N.E. Venture Capital
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Contact Information
Slater switchboard 831-6633