Simply Genius
What's small, cheap, plastic, and safeguards newborns in the first moments of life? It's the device behind one of the BioInnovation Center's newest and fastest-moving start-up companies: SafeSnip.
The biotechnology behind the start-up is a new umbilical cord clamping device, which works by splitting into two pieces after the cord is severed. Half remains attached to the umbilical cord to seal the wound and prevent infection, and the other plastic half is disposed.
Damon Bowe, a biotechnology and commercialization consultant and a fellow at the BioInnovation Center, is the leader of the SafeSnip team. Bowe explained that their device is more practical, affordable and sterile than the typical tool used for severing the umbilical cord.
"The current status quo is the Hollister Clamp, and it's been used for about 50 years," explained Bowe. "It costs between $15 and $18, and it requires many different clamps in addition to the single Hollister Clamp. There's a need for prep time, and it requires training."
He explained that the SafeSnip device requires no special training, and ensures sterility, making it applicable for use not only in our hospitals, but in third-world countries as well. "It's a very simple device that can be used once and then discarded," Bowe said. "It saves time and money for physicians and nurses."
The initial version of the SafeSnip device was invented by Tulane University researcher Lorraine Bell, who saw a need for such a device while working in third-world countries. "A high rate of infant mortality is based on umbilical cord infections," said Bowe.
"She wanted to reduce the instance of umbilical cord infections, and give people in third-world countries an easy way to sever the umbilical cord using a disposable, single-use device that could be distributed at low cost," he said.
Bangladesh is the first foreign country to collaborate with SafeSnip for use of their device, to be placed in around half of the country's hospitals after initial pre-clinical FDA trials are completed in the U.S. "They have about 300 births per month in each hospital, and we will provide him with a six-month supply," said Bowe.
The device's application in the third world is based on sterility, but in its application in the U.S. and other first-world countries, SafeSnip is focused on improving the market by adding practical advances to the decades-old technology of Hollister Clamp. Bowe explained that they are exploring at least three features that can be added to the basic device.
Adding an internal pH testing system is one potential feature. "Testing pH is the easiest, quickest and most important early detection of whether there's a problem with the infant following birth," said Bowe. Other features include simple tracking devices such as RFID (radio frequency identification) strips, serial numbers, and colored labels to denote high-risk babies, as well as marketing the hospital's name or even the name of the infant.
Four other Tulane inventors worked with Bell to create the final incarnation of the device. Two members of their group became interested in transforming the intellectual property and launching the device, leading them to a partnership with Bowe and the BioInnovation Center.
"At the Center, we have the resources we need to start this small company and try to figure out the practicalities," Bowe said. With previous experience a doctoral scientist and in intellectual property law, including his experience developing products for the FDA at Merck & Co., Bowe's background made him ideal for the task. Along with help from NOBIC interns Alex Chan, Cesar Solorzano and Erin McLaughlin, who are currently earning Masters of Finance, MBA and JD degrees respectively from Tulane, SafeSnip is developing its business at a rapid pace.
SafeSnip has already received recognition from national and international business plan competitions. Most recently, SafeSnip was announced the third place winner of Wake Forest University's Elevator Competition in the Social Entrepreneurship Competition, as well as third place in its Fan Favorite competition. Its business plan was also awarded the Clinton Global Initiative University (CGIU) grant in the amount of $5,000, and won MTV University's Movers & Shakers competition, earning $2,500. SafeSnip's business plan is currently among semifinalists for three other national and international competitions; plans are underway to travel to each in the coming weeks for the final rounds. Among them are the University of Oregon's New Venture Championship and Tulane University's international New Day Challenge.
Selection in each of these competitions provides a chance for valuable feedback and financial awards, but most important to Bowe and his team, it provides a chance to spark production more quickly.
"What we're really hoping to do at these competitions is to pick up a venture capitalist who can invest in building this technology," said Bowe. They are now in search of a plastic manufacturer to create the specialized plastic mold to mass-produce the product. After the mold is made, production will be inexpensive, workforce will be easy to train, and easy to keep the business in New Orleans, the city where it all started.
A "New Chapter" for Louisiana's Biotech Industry
Louisiana boasts first-class biotechnology work in its institutions, research, corporations and incubators. There is, however, one important component of the state's biotech industry that it did not have-that is, until now. With the long-awaited launch of Louisiana's own BIO chapter finally on the horizon, every entity of this industry across the state stands to benefit.
"There's no organization currently in Louisiana that exists to represent the interests of a statewide biosciences industry," said Jenna Matheny, Grants Director at the New Orleans BioInnovation Center. "The organization will provide not only a strong advocate voice-it will provide a forum for members to come together and learn from each other." She and New Orleans BioInnovation Center intern Nasreen Akter are dedicated to the organization efforts of the BIO chapter's creation.
Forty-five states and Puerto Rico have already established chapters of BIO, the Biotechnology Industry Organization. This international organization serves to advocate on behalf of the worldwide biotechnology industry, and to educate the international public about what bioscience is and what service it can provide, as well as providing business development services for its members.
"There have been a numbers of efforts to create a BIO chapter in Louisiana before, and the most recent effort began in the late 1990s and early 2000s," Matheny explained. Unfortunately, it lacked the momentum it needed, and the effort fizzled out after the storm in 2005.
But in 2009, that momentum changed, and an effort to finally create the chapter began. The BioInnovation Center was awarded $90,000 with a matching requirement from Baptist Community Ministries. They were successful in matching more than that amount, $93,000, by forming around 10 partnerships from a very broad spectrum of different sectors. "When the opportunity for grant became available, it seemed like the perfect time to take advantage of it and begin work on the BIO chapter," she said.
"Different states focus on different areas of the industry," said Matheny. "Many states focus primarily on lobbying, but we don't want to do just that."
She explained that they want the chapter to be a resource for the state in terms of education, and a source for individuals to find out what the bioscience industry in Louisiana is doing. There will also be a strong focus on workforce development, entrepreneurial support and a high level of networking for its members.
"The most important mission of the BIO Chapter is to help unite biotech efforts across the state in different industries," she said.
These unification efforts are apparent in the chapter's geographically diverse planning committee. Members hail from the cities of Baton Rouge, New Orleans, Shreveport, and others. Its members were recruited from educational institutions, healthcare centers, biotech incubators, government consultant firms, biotech venture capitalist groups, and many other entities.
Thus far, the planning committee has established an equally geographically diverse initial Board of Directors. They plan to become a fully incorporated chapter by early April 2010. A formal launch is planned for the international BIO Show, held in Chicago in early May 2010, and recruiting efforts will begin. In June, they will have their full board of directors seated, and hire their first executive director.
The biggest buzz about the chapter now is its unveiling at the BIO International Convention. This will be the perfect time to celebrate the chapter and the countless opportunities it represents for the biotech industry in the state, explained Matheny.
"The BIO show is an exciting time to begin with, and the attention of the international community will already be on the biosciences," she said.
"It will be a great time to show that Louisiana is moving forward and actively trying to grow our industry by forming a BIO chapter."
Bridging the Gaps
One of the most exciting ongoing projects being worked on in-house at the BioInnovation Center here in New Orleans is the Bioscience Technology Database. This database is the first of its kind in Louisiana, and few other states have this tool to enhance research commercialization such a dramatic way. Like others in Georgia and Harvard, Conn., this database is all about making connections-connecting researchers in different departments and academic institutions, connecting investors to valuable commercialization opportunities, and connecting national funding dollars that seek out translational efforts such as these to hospitals in our state.
Steve Ceulemans heads the hard-working team of interns at the BioInnovation Center who collect interviews and data to populate the database, and he explains that one of the problems it solves is quantifying expertise of research and departmental interests.
"Often these research universities are very much divided into silos," Ceulemans explained. "More and more, research is moving in the direction of solving problems rather than doing work in specific areas. That's why if you want to come up with a novel vaccine against anything, say HIV, you need a virologist that knows how the virus works, you need a formulation chemist that knows how to put an antigen into a vaccine and not have it go out of solution, and you need someone who knows toxicology to design your animal trial." He explained that often even if the expertise exists in one place, one expert may not be aware that the other is working on similar research. "The toxicologist may have no idea about the virologist or where he might be, even within the same hospital or institution. That's where the resource database comes in."
The Bioscience Technology Database currently includes three research organizations: the Louisiana Vaccine Center, the Southern Louisiana Institute for Infectious Disease (SLIIDR), and the Clinical and Translational Research Center (CTRC). Within these three organizations are physicians and researchers spanning LSUHSC, Tulane University, Xavier University, UNO and Children's Hospital, with around 70 researchers included in the database. Plans for expanding to include hospitals outside the city, namely Louisiana Tech, are among the next steps for the project.
Biotechnology companies are also included in the database as contacts, expanding the possibilities for commercialization by connecting business to research, said Ceulumans. "The goal is to facilitate collaboration within research areas, but also to facilitate collaboration between industry and academia," he said.
"If its difficult for somebody in the pharmacology department to identify an expert in the microbiology department, it's even more difficult for a company to identify that expertise in a local university, because they're not even inside the institution," Ceulemans noted.
The Bioscience Technology Database is available publically, free of charge through the New Orleans BioInnovation Center website. Visit neworleansbio.com and click on the Research Commercialization link to be directed to the Bioscience Technology Database login.
And The Winner Is...
The New Orleans BioInnovation Center's own Steven Ceulemans, Commercialization Coordinator and leader of the venture acceleration program, won the award for University Technology Leader of the Year at the 2009 Governor's Technology Awards ceremony last month.
"I think I'm going to be busy for a long time to come," said Ceulemans in an interview with The Advocate, indicating that the need for connectivity between biotech researchers and commercialization opportunities is only getting stronger in Louisiana.
Since joining the BioInnovation Center, Ceulemans and his commercialization staff have worked to give hundreds of researchers in Louisiana the information and resources they need to make commercialization of their work a reality.
Ceulemans holds a master's degree in biochemistry and molecular biology from LSU Health Sciences Center, New Orleans, as well as a master's degree in international business from VLEKHO business school in Brussels. He also holds a bachelor's degree in Chemistry from the Technical University of Antwerp. Ceulemans has experience in chemical and biomedical R&D, international business development and biotechnology startups through prior engagements with the Joint Research Centre (DG European Commission), Procter & Gamble, Tibotec (Johnson & Johnson) and Software AG.
The New Orleans BioInnovation Center was fortunate enough to be recognized with nominees in several categories of the Governor's Technology Awards this year. Other nominees included NuMe Health, a NOBIC start-up company, for Technology Company of the Year; and Aaron Miscenich, Executive Director of the New Orleans BioInnovation Center, for two awards: Innovator of the Year and Technology Leader of the Year. Congratulations to the BioInnovation Center for all the recognition it received at the 2009 awards!
BioInnovation Center Fellow of the Month: Damon Bowe, Ph.D., J.D., D.C.L.
Run, bike, biotech! BioInnovation Center Fellow Damon Bowe has worn many hats, from his many accolades in professional life in biology, medical research and law, to his accomplishments as a prolific athlete.
Bowe graduated from Bates College with at double major in biology and biochemistry in 1999. He went on to earn his Ph.D. in pharmacology and toxicology from the University of Alabama at Birmingham in 2006, and his J.D. from LSU School of Law in 2009. He joined the BioInnovation Center in 2009.
Bowe's experience in the fields of medical research and intellectual property law are truly impressive. He began his scientific career at Tulane Medical School in the Section for Experimental medicine, and the VA Hospital's Endocrine, Polypeptide and Cancer Institute.
He said it was a milestone opportunity in his professional life when Andrew Schally, a Nobel Laureate, offered him an internship at his laboratory. "The experience was eye-opening and is foundational to my growth as a scientist," explained Bowe.
Bowe went on to complete his undergraduate thesis in biochemistry at Memorial Sloan-Kettering Cancer Center in New York City, a top research and treatment facility for oncology. Bowe specialized in breast cancer research and preclinical drug toxicity and pharmacology while at UAB, and gained background in disease modeling and drug evaluation while working in the Safety Assessment division of Merck & Co. Aside from his experience in bioscience, he has also worked in Boston in patent and intellectual property law.
"I like the idea of building a nascent biosciences industry in New Orleans," he said. "NOLA is infused with enthusiasm about the biosciences. With the establishment of NOBIC facilities on Canal Street and the coming hospitals, as well as ample space for business development, there is a lot of excitement and possibility."
Besides running laps around different fields of bioscience research and law, Bowe has been a dedicated athlete for many years. This former All-American swimmer still holds the record for the 400 IM at Bates College.
Also an avid triathlete, he has founded two triathalon clubs in the past year, at Bates and in his hometown of Houma, Louisiana. "I compete internationally in triathlon, and my goal is to qualify for the Ironman World Championships in Kona, Hawaii," said Bowe.
SafeSnip among winners of Wake Forest's Elevator Competition
The BioInnovation Center is proud to announce that one of its newest start-up companies, SafeSnip, won third place in the Social Entrepreneurship category of the Wake Forest Elevator Competition. SafeSnip also walked away with third place in the "Fan Favorite" competition, based on online fan voting.
"We're extremely pleased - considering that this is our first business plan competition to participate in, coming in third place out of over 130 applicants is very exciting," said Damon Bowe, a fellow at the BioInnovation Center and leader of the SafeSnip project. "We feel this will be a good experience as we move forward to establish this and other companies in the New Orleans area."
For more information about SafeSnip and the Wake Forest Elevator Competition, please visit.
http://www.elevatorcompetitionlive.com/2010/03/27/winners-announced/
Upcoming Events: MIT Enterprise Forum
Don't miss the global broadcast of the MIT Enterprise Forum discussion on "The Clean Energy Revolution," broadcasting on Monday, May 3, 2010, at 3:30 p.m. Central Standard Time. A lively debate will be held to discuss what actions are needed to cause a paradigm shift and initiate the "clean energy revolution". The four panelists include Brian Dumaine, Global Editor of Fortune magazine; Nancy Floyd, Founder and Managing Director of Nth Power investors; Scott Stern, Visiting Professor of Technological Innovation, Entrepreneurship and Strategic Management at MIT Sloan School of Management; and Kevin Surace, CEO of Serious Materials.
Finding Medical Miracles in Nature
Excitement is building around NuMe Health, a biotechnology company specializing in the arena of medical foods and one of four current start-up ventures from the New Orleans BioInnovation Center incubator.
"We want to be the premiere medical food company for chronic indications such as cancer, obesity and diabetes," explained Justin Peno, the director of business development of NuMe Health.
Founded in July 2009 by Dale Pfost and John Elstrott, two highly successful entrepreneurs in the biotechnology and functional food industries, NuMe Health promises to become a major player in the rapidly growing market of medical foods. Pfost, president and C.E.O., is a longtime biotech entrepreneur, while Elstrott, chairman of the company, has experience as a founding investor of Silk Soy Milk, Whole Foods, and other functional food enterprises.
"With their backgrounds, we aim to be a leading biotech company that focuses on this niche called medical food," said Peno. "The medical food market is growing at about 25 percent annually. We see it as an excellent opportunity to contribute to improved health through preventative approaches that cost the healthcare system less."
As a former NOBIC fellow, Peno was involved in the collaboration of research and commercialization from which NuMe Health traces its roots.
So how exactly does one differentiate medical food from drugs or from dietary goods? According to Peno, it is a particular class of product regulated by the FDA. "It's a very specific and narrowly defined product area," he said.
Medical foods differ from over-the-counter supplements and "functional foods," such as orange juice fortified with calcium, which are more familiar to the average consumer. "Medical foods address the dietary deficiencies of a patient in certain disease states," Peno explained. "Medical food compounds have to be found in nature," he said. "Ours is found in activated soy."
The company's first initiative focuses on medical food for diabetes, obesity and breast cancer patients and survivors, based upon an anti-estrogenic compound found in activated soybeans, known as glyceollin.
"The project started as a collaborative effort between Tulane University and the USDA here in New Orleans, and it has been worked on for the good portion of a decade," said Peno. "They started looking into the phytoalexins of soybeans, and it winds up that one of the compounds, glyceollin, is shaped rather remarkably similar to estrogen. It turns out that it's best known natural anti-estrogen."
Currently, premenopausal breast cancer survivors enter into a five-year regimen of tamoxifen, which has strong anti-estrogenic effects on the breasts and bones, but has a potentially harmful estrogenic effect on the uterus.
"In looking at glyceollin, they saw that it acts like an anti-estrogen in both the breast and the uterus," he explained. "We see the potential for breast cancer survivors that are off of tamoxifen who would still like to do something proactive."
The long-term opportunity for glyceollin in medical food is clear, and providing this scientifically proven compound to help solve dietary deficiencies of breast cancer survivors is one of NuMe Health's initial goals.
However, that is only a part of their business plan. Future medical food ventures for the dietary deficiencies of obesity and diabetes are also on the horizon. "We're working to submit an SBIR grant to study the feasibility of the [glyceollin] compound on insulin and see if it would serve as a viable pre-diabetic food."
Among the pioneering companies from the NOBIC start-up incubator, NuMe Health is poised to become a fast leader in the rapidly growing medical food market. "We see investor interest growing," said Peno. "It's branching out for all of us, but we're all excited to be learning so much about this niche called medical food."
Going for the Gold
In the past year, New Orleans has shown many signs of being a city uplifted, and the changes in the city's infrastructure and building projects have certainly been among them. The construction of the novel New Orleans BioInnovation Center promises to contribute to the city's sense of rebirth as a state-of-the-art facility for the biotechnology industry, as well as one that is environmentally unprecedented in the city.
"One thing that's truly unique about the project is that it's built to LEED Gold standards," said Kevin Overton, project manager of Turner Universal, the construction management company for the BioInnovation Center building. "It's incredible to be a gold-level project."
The Leadership In Energy and Environmental Design (LEED) Green Building Rating System defines a myriad of standards for environmentally and logistically superior building design, used internationally to rate constructions and neighborhoods since its establishment in 1998. To attain status as an accredited LEED Gold Certified construction is a challenging feat.
"It's a very detailed analysis of the project. This is going to be the first LEED Gold project to be built in New Orleans," said David Poole, senior project superintendent with Turner Universal.
Located on the corners of Canal and Marais streets, the new BioInnovation Center building will house the Center's office, retail space, and universally adaptable wet-lab and office spaces for the companies in their biotechnology incubator.
While designed for its functionality, the building promises to be an aesthetic head-turner as well. The four-story construction will feature a lobby with an open atrium, a courtyard area with a fountain feature, and sweeping ceiling-to-floor glass windows facing Canal Street. But those glass sheets aren't just for looks-they will add points to the LEED certification as well.
"The glass restricts the amount of heat that comes through, keeping the air-conditioning usage down," Overton said, explaining that the lighting will be approached differently as well.
"We're going to try to use as much outside light as possible. Along with lower-energy florescent lighting, we will be giving each person control of the light at his or her desk to turn that light off. That way, if you have a large space, you don't have to leave all the lights on for one person." Motion sensors and other features will also be incorporated.
Construction waste has not been left out of the equation; 98 percent of all of the wood, concrete and other waste produced during construction is currently being recycled, according to Poole. The building's forward-thinking features also include its water-pervious parking lot, a reflective white roof to aid in cooling costs, and rainwater retention system.
"The water feature is actually going to catch all the water from the roof," Poole explained. "It will be used for irrigation, and the overrun-instead of going into the city's system-will go into the pervious paving in the parking lot. It's a really neat design."
"You couldn't find a more important place to utilize this water system," Overton noted. "Any system that will prevent water runoff will be to the BioInnovation Center's advantage."
Occupants will also find advantage in cost-savings in such a building, in that after the infrastructure is installed, operational costs will be significantly lower than in a normal laboratory or office space.
The building's team broke ground on the project in October 2009, and plans to have the facility completed by February 22, 2011. Poole and Overton credited the project's swift momentum to the combination of players in the team.
"It's a big process, but we've done well," said Poole. "The team is probably the best part of the job. I've traveled all over the world doing construction projects, but this group, from engineers to architects to owners, is probably the best group I've been able to associate with for a long time." Other team members include architect Eskew, Dumez & Ripple, engineering group Newcomb & Boyd, laboratory caseworker Fisher Hamilton, and other outside contractors.
Overton said he has already experienced positive responses about the project so far from the community. "The goal of improving this area of Canal Street is a pretty big deal around here, and we're getting lots of positive feedback on that."
"I think when it's built, it's going to cause some serious attention," Poole added. "It's pretty amazing when people walk into a new facility like this; they get excited. Being all glass, you'll walk in and feel like you're outside instead of cramped up in another office."
Among the many unique aspects of the construction, Poole noted that live webcam coverage is available via the BioInnovation Center website, and said with a grin, "We have a lot of people watching."
Interested in the progress of the BioInnovation Center building construction? Visit it via live webcam anytime.
Making Sense of Louisiana's R&D Tax Credits
In December 2009, the BioInnovation Center had the opportunity to host one of the live webinars that it frequently broadcasts online via its website. "Understanding the Revamped Louisiana R&D Tax Credit" featured speaker Susan Bigner, Business Development Officer of Louisiana Economic Development, who explained the R&D tax credits available to the state, and some of the recent changes affecting them. Such R&D tax credits offer great promise and huge benefits to grow Louisiana's economy through its research and development activities.
"I think in terms of bringing in an expert to talk about the subject, we couldn't have found a better person to join us," said Steve Ceulemans, Commercialization Coordinator at the BioInnovation Center, in his introduction. "Susan is not only on a technical level with Louisiana Economic Development that is very familiar with these credits, she's also the key administrator that implements a lot of these benefits as they are developed."
The Louisiana Research & Development Tax Credit Program has been in effect since 2003, and the December seminar explained retroactive tax credit applications, as well as new rules that expanded and revised these credits in 2009.
"I'm really excited about the 2009 tax credit legislation," Bigner said in her presentation. Beginning in the 2009 fiscal year, the tax credit was increased to 40 percent for SBIR grants, and is refundable. "That money goes back into your company, and helps your company to do research and development."
The 2009 revisions to the R&D tax credits will also be a specific help to smaller businesses. As Bigner explained, companies that employ less than 50 Louisiana residents can take advantage of the state R&D tax credit without having to file for the federal tax credit. "Previous rules were leaving out the small companies-the companies that don't have the ability to go out and pay big bucks to CPAs and auditors," Bigner said.
Bigner took questions from the audience throughout the presentation, making the seminar uniquely practical for attendees with specific questions about the nuances of applying for these credits. Handouts included not just Bigner's presentation, but also an R&D tax credit fact sheet, specific legislation on the credits, and even an application form.
As a biotechnology and medicinal-science oriented incubator, the BioInnovation Center works continually with companies, medical centers and universities in translating discoveries into developments and into products, ultimately helping produce start-up companies. Educating interested members of the community is a major part of hosting and broadcasting such events. "I've got companies coming up to me and saying, 'I had no idea!'" Bigner noted.
"I want to make sure that you get the best for your dollar," she said. "Let's keep the research here-let's keep it going."
Along with the BioInnovation Center, the R&D Tax Credit webinar was hosted by the Greater New Orleans Biosciences Economic Development District; Louisiana Economic Development; the Louisiana SBDC; the Clinical and Translational Research, Education and Commercialization Project; the Louisiana Vaccine Center; and the Southern Louisiana Institute for Infectious Disease Research.
To find more information on these tax credits please view the webinar.
BioInnovation Center Fellow Profile of the Month: Justin Levy, J.D.
When BioInnovation Center fellow Justin Levy packed his bags and headed to New Orleans to attend law school at Tulane University, he admits he wasn't sure what to expect from the city. After growing up in Boca Raton, Fla., and graduating from Boston University with his degree in biomedical engineering, Levy anticipated a city filled with excitement, and he said he wasn't let down.
"After living through the music, the food, and the people, it became clear that I was going to stick around for a while," said Levy. He loves the city, he explained, because he persistently discovers new things such a small place.
"Few places in the world offer the hidden gems of New Orleans while still remaining a small city," Levy said. "I feel like I could live here another decade and never try all the restaurants, hear all the music, or see every gallery."
Levy began his internship with the BioInnovation Center in May 2008, and was hired as a fellow upon his graduation from Tulane School of Law in 2009. Since then he has worked on many of the Center's commercialization projects, and he has found New Orleans to be an exciting atmosphere for biosciences.
"Our immense research institutions around the city make it clear that New Orleans has the inventors, technologies, and capabilities to create new bioscience tools and creations," Levy said.
He added that New Orleans' potential stands out because of its relatively recent surge in biotech commercialization compared to other cities with equally respected research institutions. "New Orleans is in the unique position to learn from everyone who has come before us to create the ideal bioscience sector while mixing in our local culture," he said. "Learning from others while depending on our New Orleans' technologies will make our city a bioscience center."
While Levy has had a hand in commercialization projects that vary widely in purpose and design, one of those he currently finds most compelling involves a novel method of remediating groundwater of dangerous chlorinated compounds, developed at Tulane by Dr. Vijay John. "The technology is cheaper and more efficient than other technologies available now," he explained. "We are extremely excited about the applications of this technology to clean up close to 300,000 contaminated sites around the country."
Outside of his projects with the BioInnovation Center, Levy said he likes to grab a to-go mug from the Bottom of the Cup Tea Room in the French Quarter, and continue to explore. "I love tea, and I love strolling around to find new places."
His long-term goals translate from both his personal and professional experiences here. "I hope to be involved with developing small businesses in New Orleans, whether that is through working with a small company, or continuing to work with technology transfer in universities," he said. Though he's lived in many cities, New Orleans seems to have become the place that Levy calls home.
Competitive Caliber
Here is a look the success that the BioInnovation Center's interns, fellows and start-up biotech business plans are receiving in national and international business plan competitions across the country.
Tulane Business Plan Competition:
This international competition recognizes the most viable business plans submitted from around the world. Eight countries, four continents and 51 universities were represented in the 93 original team submissions. Two of the BioInnovation Center's start-up businesses, NuMe Health and Nanofex, are among the 21 teams that are competing in the semifinal round of competition. Both wait to hear if they are among the final three chosen as finalists.
The Entrepreneur Challenge Class of 2010, Idea Village:
NuMe Health was selected as one of 20 new businesses in the Greater New Orleans area to represent the Entrepreneur Challenge Class of 2010. Criteria for selection included being a for-profit small business with the desire to grow to more than $10 million in annual revenue in 5 to 10 years, which also demonstrate positive economic and social impact to the New Orleans community and the potential to employ knowledge-based workers.
New Day Challenge, Tulane University:
BioInnovation Center start-up Safe Snip, a medical device company, has had its business plan selected for the semifinal round of judging among 10 other teams' business plans. The New Day Challenge is a competition for social entrepreneurial ventures whose primary goal is to effect social change. Safe Snip is waiting to hear if it is among the 3 finalists. The winning Tulane student group will be awarded $20,000 in seed funding to launch their financially sustainable proposal.
Wake Forest Elevator Competition:
Safe Snip and Nanofex have both made it to the semifinal round of judgment in the Wake Forest Elevator Competition. Both Nanofex and Safe Snip were selected from over 120 business plan entries to make it to the finals of this competition. Winners from this competition will be announced in late March 2010.
New Venture Championship, University of Oregon:
In its 18-year history, the New Venture Championship has become one of the top three international MBA business plan competitions in the world. Safe Snip has recently been announced as one of the semifinalists afforded the opportunity to present their business plan to this prestigious competition.
The Dell Social Innovation Competition, University of Texas at Austin:
Both Safe Snip and Nanofex have been voted among the semifinalists for the Dell Social Innovation Competition, which awards seed funding directly to the student-led venture that best meets the judges' criteria. Finalists will travel to Austin, Texas, to present their plans to a committee, with the overall winner receiving $50,000 to launch his or her venture. Show your support for our local start-ups by entering your vote now.
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