The BIC Story
Boston Innovation Capital (BIC) is an advisory firm that was spun out of Life Science Nation (LSN) in 2015 to address an unmet need among early stage scientist-entrepreneurs for tactical, hands-on assistance in packaging technologies and management teams and in helping them execute fundraising campaigns in the biotech and medtech arenas.
Scientist-entrepreneurs raising capital to bring their assets towards commercialization are faced with few choices when seeking outside help for fundraising. In the past these choices would include small scale investment banks and former bankers or industry executives who may or may not be associated with a broker-dealer. Most cannot provide the global reach and scale of service that allows a scientist entrepreneur to see a clear and expeditious path to capital.
Boston Innovation Capital was created to provide this global service, and help new life science technologies take the next step towards the market.
Changing Early Stage Investment Landscape
Given the changes in the VC and investment banking landscape, many small advisory boutiques are being formed. Often these are one- or two-person firms.
• These firms typically will chase deals that will generate large success fees from late-stage, $100 million+ capital raises.
• There is limited support available for preclinical, Phase I and Phase II therapeutic companies and development-stage medical device companies, which typically seek capital raises in the $500K-$30mm range.
• BIC is dedicated to early stage financing and has a unique global investor network.
A lot of these small fundraising firms have a full stable of emerging technology companies. Unfortunately, a firm’s focus naturally gravitates toward the company that is perceived to be the "hottest” in the marketplace, with very little attention given to their other clients. The few good regional relationships within a small firm’s rolodexes are quickly tapped out. These firms are often poorly equipped to canvas the necessary pool of global investors to conduct an efficient capital raising campaign.
Early stage life science fundraising needs to be approached globally, with an approach that involves canvassing a wide array of potential investors.
Regional vs Global
Though many incubators profess that they have strategic partner connections, in reality these “connections” are few and far between. To fund the quantity of new technology that is available, life science entrepreneurs need to go global.
Regional third party marketers typically base their business on local connections with one or two categories of investors, leaving out the majority of investor targets that are out there and could be a good fit. BIC, by contrast, develops relationships with investors of 10 distinct categories, located all across the world.
Raising capital requires finding investors that are a fit for your stage and sector. Like all marketing and sales efforts, it’s essentially a numbers game. By narrowing your pool of investors to one category, or to a specific region or country, you limit your audience and therefore your probability of success. BIC has the global investor footprint and the broad reach among all kinds of early-stage investors that is required to make a fundraising campaign successful.
BIC has current, accurate information on global early stage life science investors. This allows BIC to create a high value global target list (GTL) with which to canvas investors and execute global fundraising campaigns.