By Dave Hodges
Tallahassee Democrat, February 9, 2013- Entrepreneur Jason Robotham knows an innovative technology and a viable product are great, but not quite enough for a successful business launch. There is one more essential to get things rolling.
The president and co-founder of BioFront Technologies, Robotham and his colleagues applied for and won a Technology Commercialization Grant from the Leon County Research & Development Authority last year. The infusion of much-needed financing helped move the company forward, he says.
First-round financing is tough to find for technology startups, and angel investors are reluctant to get onboard. That’s what makes the grants from the LCRDA such a tremendous help, he said, adding “$15,000 goes a long way for a startup company.”
The grant competition is open to entrepreneurs and individuals from local businesses, universities and research labs. Grant recipients also receive a scholarship to the Entrepreneurial Excellence Program conducted by the Economic Development Council of Tallahassee-Leon County.
Using technology that originated at FSU, BioFront developed a kit that food manufacturers can use to test their processing equipment for the presence of nut allergens — a precaution critical to the health of consumers who have sometimes life-threatening allergies to peanuts, cashews, walnuts and the like.
Robotham said his firm is using the grant money for the costs associated with independent validation of the kit’s effectiveness — something food giants like General Mills and Hershey’s want assurance of before they place orders.
Ronald Miller, interim director of the authority, which oversees Innovation Park, said the grants aid in getting research breakthroughs into the marketplace. “I think it’s very valuable,” he said of the program. “We are primarily focused on the technology side. That’s the big thing. What’s the value of the technology and is there a viable plan behind it?”
Miller will be available to explain the grant competition in more detail at an orientation meeting Feb. 18. The grant applications are due March 18 and the finalists will be announced April 15.
In May, finalists gather for one final round of competition called “Elevator Pitch Night” — named after the marketer’s succinct, compelling description of a business or product in the time it takes to ride an elevator to its next stop.
BioFront and competitor Specialized Crystal Processing were named the winners that night. SCP originated with technology from the National High Magnetic Field Laboratory. Its plan is to produce Europium (II) oxide crystals that have application in smaller, faster memory for electronic products.
Those interested in more details can visit the web site www.lcrda.org. Miller says startups with a good idea, an innovative product and a sound business plan should apply. “We want to help the people who have done the legwork to get to the next step.”
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