New York State Biodefense Commercialization Fund

The following is an overview of the Biodefense Commercialization Fund program and requirements. More details can be found by reading the Biodefense Commercialization Fund Guidelines. http://www.esd.ny.gov/biodefensefund  

Program Overview

New York State's $40 million Biodefense Commercialization Fund was created to accelerate the development and commercialization of innovations targeting infectious disease threats while fostering new life science businesses and industry growth within New York State.  The Fund is being administered by the New York State Urban Development Corporation d/b/a Empire State Development (“ESD”), and grants are intended to be used only for working capital. 

ESD invites Startup Companies and Academic Institutions pursuing late stage projects with high commercial potential in the AREAS OF INTEREST described below to submit short proposals for the Fall 2023 call for applications. Startup Companies that have a technology close to market and Academic institutions with translational innovations on the cusp of moving into a commercial development phase are encouraged to apply. 

Areas of Interest

• Novel platforms for development of rapid Point-of-Care (POC) diagnostics (examples include, but are not limited to, CRISPR and/or Isothermal-based platforms) with priority given to POC diagnostics that can perform as well as or better than existing lab tests 
• Processes that integrate easy-to-use sample preparation and allow for access in low resourced settings 
• Novel tools for sequencing and serology-based tests that support infectious disease and pathogen surveillance  

All grant awardees will be assigned an Industry Mentor to support advancement of their research programs and to guide commercialization. Awardees will also have access to educational sessions offered by Columbia’s Lab to Market (L2M) Accelerator Network. 

Please see the NYS Biodefense Commercialization Fund Guidelines for additional detail.  

Eligibility Criteria

Startup Companies
All startup companies must meet the criteria below to be eligible for funding. More details about funding criteria can be found in the NYS Biodefense Commercialization Fund Guidelines.  

• Incorporated company (LLC, C-Corp, S-Corp, etc.)
• Based in New York State or relocating to New York State (able to show proof of relocation plans and willing to sign a locational agreement) 
• Raised Seed, Series A or Series B funding  
• Expect to remain and continue conducting business in New York State for a minimum of 3 years after completion of grant period 

Academic Institutions
To qualify for funding, academic institutions must be based in New York State and utilize this funding mechanism to advance translational innovations towards commercialization and a near-term University exit.  More details about funding criteria can be found in the NYS Biodefense Commercialization Fund Guidelines. 

Funding

Grants from the New York State Biodefense Commercialization Fund aim to advance commercial development of solutions for serious infectious disease threats. Applicants from Incorporated Startup Companies are eligible to receive funding of $1 million to $4 million (to be used for Working Capital Direct Costs only). There will be a requirement for matching for funding of $2 million and above. Academic Institutions are eligible to receive grants of $250,000 to $500,000 (inclusive of a maximum 25% Indirect Cost rate).  

Final funding amounts will be determined by an Expert Review Panel and are expected to be applied to no more than three years of working capital project expenses.   

Grant funding must be used for expenses directly related to the awarded project. The mechanism of funding and allowable use of funds are outlined in the Fund Guidelines. 

Review Process

Short proposals will be reviewed by the Fund Administrator for eligibility and then by an Expert Reviewer who will score based on translational and commercialization potential, as well as scientific and clinical merit and feasibility. A subset of applicants will be invited to submit a long proposal, which will require more detail regarding key research and development milestones, as well as a detailed budget.  Details of the long proposal application requirements and format will be provided to applicants invited to submit a long application.   

Awardees are expected to be announced in Spring of 2024.  

Questions?

Please e-mail BiodefenseFund@esd.ny.gov

Note

The review process will safeguard against any conflicts of interest on the review panel. All reviewers will be required to sign and adhere to a Code of Conduct and follow its requirements, which may require recusal under certain circumstances. 

We suggest applicants provide sufficient information to allow for robust review of the project but should not disclose any information they are bound to hold confidential or chemical structures that have not yet been vetted through IP Counsel. If you have any questions prior to submitting an application, please reach out to BiodefenseFund@esd.ny.gov; for any questions related to using the Submittable platform, please reach out to L2m@ctv.columbia.edu.  

Please note: Columbia Technology Ventures’ Lab-to-Market (L2M) Accelerator Network is collaborating with Empire State Development (ESD) on the administration of the New York State Biodefense Commercialization Fund. Applicants may receive email communication from L2M on behalf of E