1. Within 1-2 years of sustainable commercial revenues OR significant investment.
2. Innovation-based start-up companies, with a technology strategy that creates defensible value (such as through patents, trade secrets, copyrights, know-how) and is focused on commercial application.
3. Be a for-profit entity (corporation, LLC, partnership or sole proprietorship).
4. Adequate capitalization to provide for six (6) months of viable operation (to be outlined in a business plan), and can pay six (6) months of services to the BIC.
5. Business plan which addresses potential markets and size of market, growth potential, financial proformas, personnel growth and acquisition, and exit strategies.
6. Technical expertise in the field, with a plan to acquire qualified resources in employee, market, and financial management.
7. The candidate company must fit within the operational model of the specific facility (space requirements, license fees, equipment/facility requirements, etc.).
8. The candidate company does not exceed space available and does not need special arrangements that cannot be supplied.
9. Submission of a complete BIC application.Clients will be required to confidentially submit monthly progress reports (including financial statements) for review by the BIC staff. Additional information may be required.
Upon admission to BIC, company agrees to:
1. Attend quarterly meetings with BIC management personnel to review milestones, evaluate progress, and explore options for business development.
2. Submit a performance report* to BIC management no later than sixty (60) days prior to renewal of services contract. Renewal of services contract is contingent upon adequate progress toward milestones, as reported in the performance report.
3. Attend periodic group events arranged by BIC management and generally take advantage of opportunities to network with service providers and other BIC clients.
*Performance report assistance is provided through our technical assistance program.
Submit application form and business plan to:Business Innovation Center at Florida State University-Panama City4750 Collegiate Dr.Panama City, Fl 32405
The final decision regarding admission to BIC is at the sole discretion of the BIC management team.