BioTools Innovator Chooses PAK BioSolutions as Finalist

Vienna, VA – PAK BioSolutions has been chosen as a finalist for the Biotools Innovator 2023 program. This program serves as an accelerator specific to life science research tools.

Applications were due at the end of January. The applicants presented to over 80 judges who specialize in the life sciences. After this tour, 19 finalist companies were chosen to proceed to the four-month mentorship program running from June-October, 2023. PAK BioSolutions is in this final group.

The Innovator Summit is taking place this week, June 14-15, in the San Francisco Bay Area. PAK CEO, Joanna Pezzini, is in attendance.

“I look forward to meeting the other finalists and to participate in the Accelerator Program,” said Pezzini.

12 of the 19 finalist companies are based in California, while 4 of the companies are from overseas. PAK BioSolutions is 1 of only 2 finalist companies on the east coast.

 The Accelerator Program will culminate in a capstone event for the top 5 finalist companies, taking place October 12 at the Cell and Gene Meeting on the Mesa. At this event, a single grand prize winner will be awarded a $250,000 cash prize.

Companies are evaluated on three categories: value, execution, and momentum. Value is rated in terms of product, customer validation, intellectual property, business model, competition, and market opportunity. Execution is based on the following criteria: team strength and execution, development plan, feedback responsiveness, current funding, and resources. Momentum is then graded based on development stage, evidence, time to market, traction and sales, partnerships and relationships, time to key milestones, and upcoming funding.

“It would be amazing to make it to the top 5,” hopes Pezzini, “but the experience itself will be valuable training.”