a note on non-dilutive funding for life sciences startups
This is a PDF document titled "A Note on Non-Dilutive Funding for Life Sciences Startups" created in 2025. It is an educational and technical note prepared by Harvard Business School faculty and industry experts, providing a comprehensive overview of non-dilutive funding options available to life sciences startups. The content covers types of non-dilutive funding such as grants (federal, state, and private), business plan competitions, licensing, loans, and venture debt, along with detailed information on government grant programs like SBIR and STTR. It also discusses best practices for grant applications and the pros and cons of non-dilutive financing. The document is intended for CEOs and entrepreneurs in the life sciences sector seeking capital without diluting ownership. There is no conversational or multi-speaker dialogue present, and Stephane Bancel is not mentioned as a participant.
Questions this document answers
Non-dilutive funding is capital that doesn't require giving up equity or ownership in the company, allowing founders to maintain control. It includes grants, licensing revenues, loans, and other sources.
Grants are financial awards provided by governments, foundations, or organizations to support specific projects or research without requiring equity transfer. They are often awarded through competitive processes.
Federal grants are funding provided by government agencies through programs like SBIR and STTR to support research and development activities in various sectors, including life sciences.
SBIR (Small Business Innovation Research) is a federal program supporting small businesses conducting research with the potential for commercialization. It has multiple phases with specific funding limits.
STTR (Small Business Technology Transfer) is a federal program similar to SBIR, but it requires small businesses to collaborate with nonprofit research institutions.