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Alternativefundingforvcswebinar 130716171411-phpapp01

Joyce Molefe
Joyce Molefe

This document summarizes information about PlantForm Corporation, a Canadian life sciences company. It provides details about PlantForm's technology, funding history, pipeline of biosimilar drug candidates, leadership team, and alternative sources of non-dilutive funding such as development contracts with government agencies and pharmaceutical companies. PlantForm has received over $7.5 million in funding to date and has a pipeline of biosimilar drugs that could generate billions in potential market revenue. The document also discusses strategies for early-stage companies to pursue alternative funding from sources besides venture capital.

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Don 油Stewart, 油PhD 油 President 油& 油CEO 油 PlantForm 油Corpora4on 油 Toronto, 油Canada 油 don.stewart@plan4ormcorp.com 油 Looking 油beyond 油VCs: 油Alterna5ve 油 funding 油routes 油for 油early-足stage 油life 油 science 油companies 油
About SecureDocs 油 AppFolio SecureDocs is a virtual data room for sharing and storing sensitive documents both internally and with outside parties. AppFolio, Inc. Company Basics: ≒ Founded by the team that created and launched GoToMyPC and GoToMeeting ≒ Backed by leading technology companies and investors ≒ Web-based business software for financial and legal professionals
PlantForm 油Summary 油 ≒ Canadian 油private 油corpora=on 油established 油 2008 油 ≒ Plant 油expression 油technology 油licensed 油 from 油the 油University 油of 油Guelph 油 ≒ $3.5 油million 油in 油funding 油from 油Founders 油& 油 Angels 油 ≒ $2.0 油million 油in 油funding 油from 油Government 油 ≒ $2.1 油million 油contract 油revenue 油in 油2013 油 ≒ 4 油families 油of 油patents 油鍖led 油 油 Innovator 油of 油the 油Year 油 Guelph, 油Canada, 油2010 油 Mind 油To 油Market 油Finalist 油 Ontario, 油Canada, 油2011 油 Winner 油Most 油Promising 油Technology 油 油 2012 油Venture 油Forum 油(New 油York) 油 Dr. 油Chris 油Hall. 油Co-足founder 油& 油CSO 油 油
PlantForm 油Pipeline 油 Pipeline 油Drugs 油 Biosimilar 油 Hercep5n速 油 Biosimilar 油 Avas5n速 油 Biosimilar 油 Erbitux速 油 HIV 油an5bodies 油 Butyryl 油 cholinesterase 油 Poten5al 油Market 油Size 油 $ 油7bn 油 $ 油6bn 油 $ 油4bn 油 Market 油Entry 油 2016 油 2017-足019 油 Ongoing 油 revenue 油 stream 油U.S. 油Defense 油Advanced 油 Research 油Projects 油Agency 油
More 油that 油20 油years 油experience 油in 油drug 油development 油and 油 approval. 油Worked 油with 油Cangene, 油which 油grew 油from 油a 油10-足 person 油start-足up 油to 油an 油800-足employee, 油$250 油million 油 biotechnology 油company. 油 油Experience 油in 油all 油aspects 油of 油 drug 油development 油and 油regulatory 油approval 油of 油parenteral 油 drugs. Don 油Stewart 油PhD President 油& 油CEO Co-足founder Director 油R&D President 油and 油 owner Consulting 油 company 油 founded 油 in 油 2007; 油 油 supporting 油 Biotech 油 and 油 Pharma 油 in 油 translation 油 of 油 parenteral 油 manufacturing 油 processes 油 from 油 the 油 laboratory 油 bench 油 to 油 GMP 油 manufacturing 油 facilities. 油 油 Opening 油 sales 油 opportunities 油in 油Canada 油for 油international 油companies Presenter 油
Polling 油Ques=on 油#1 油
Finding 油Angels 油 則р GUST 油database 油 油(h^p://gust.com) 油 則р Example 油 油Los 油Angeles: 油 ≒ Angel 油Groups 油 AngelVision 油Investors 油 PCN 油Los 油Angeles 油 Icon 油Angels 油 ≒ Venture 油Funds 油 Kline 油Hawkes 油& 油Co 油 Rivenrock 油Capital 油 Macquarie 油Allegiance 油Capital 油 Barre^ 油 ≒ Business 油Plan 油Compe==on 油 UCLA 油Knapp 油Venture 油Compe==on 油 ≒ Your 油network 油of 油other 油start-足ups 油 ≒ Conferences 油 ≒ Trade 油commissions 油 ≒ State 油agencies 油
Angel 油Networking 油Conferences 油 SoCalBio 油Investor 油& 油Partnership 油Conference 油 ≒ 6 油November, 油2013 油@ 油Omni 油Hotel, 油LA 油 ≒ h^p://www.socalbio.org/ 油 Keiretsu 油Forum 油San 油Diego 油 ≒ h^p://www.keiretsuforum.com/global-足chapters/san-足diego/ 油 Beer 油& 油 油Partners 油 ≒ Investment 油Fair, 油London, 油UK 油(Spring 油and 油Fall) 油 ≒ h^p://www.beerandpartners.com/ 油 Biotrinity, 油UK 油 ≒ May 油2014, 油London, 油UK 油 ≒ www.obn.org.uk 油 Bright 油Bu鍖alo 油Niagara 油Venture 油Forum 油 油 ≒ h^ps://gust.com/r/sessions/via_group/25737 油
Angels: 油 油GUST 油home 油page 油
GUST 油Experience 油 油 Searchable 油internet 油portal 油to 油access 油angels: 油 h^p://gust.com/ 油 Need 油to 油load 油detailed 油informa=on 油 Video 油helps 油 Business 油plan 油helps 油 Detailed 油鍖nancials 油help 油 Requires 油e鍖ort 油to 油be 油useful 油 Entrepreneur 油needs 油to 油drive 油the 油process 油 Not 油everyone 油responds 油 Use 油by 油spam 油organiza=ons 油to 油mine 油for 油start-足ups 油
GUST 油PlantForm 油home 油page 油
Angel 油Funding 油Process 油 ≒ Many 油groups 油have 油their 油own 油applica=on 油 format 油in 油addi=on 油to 油GUST 油 Time 油consuming 油 ≒ Angel 油groups 油like 油to 油provide 油mentoring 油for 油 pitch 油 Time 油consuming 油and 油not 油always 油helpful 油 ≒ Angel 油groups 油due 油diligence 油can 油involve 油 considerable 油educa=on 油on 油your 油area 油 Time 油consuming 油
Angels: 油Third-足Party 油Finders 油 Professional 油鍖nders 油 ≒ Upfront 油fees 油+ 油expenses 油 ≒ Fees 油to 油present 油at 油conferences 油 ≒ Success 油fee 油(Cash 油and 油Warrants/Op=ons) 油 ≒ East 油Coast 油Group 油 $17,000 油fees 油 2 油Conferences, 油Stamford 油and 油New 油York, 油USA 油 ≒ No 油personal 油commitment 油 ≒ For 油PlantForm: 油No 油investment 油 Ad 油hoc 油鍖nders 油(investors) 油 ≒ No 油upfront 油fee, 油pay 油expenses 油 ≒ Success 油fee 油(5-足7% 油 油Cash, 油5-足7% 油Op=ons) 油 油 ≒ Well-足connected 油individuals 油do 油groundwork, 油organize 油groups 油in 油a 油home 油or 油 restaurant 油 ≒ Prospec=ve 油investors 油want 油to 油meet 油CEO 油 ≒ For 油PlantForm: 油4 油events 油= 油$500,000 油investment 油
Polling 油Ques=on 油#2 油
則р Objec=ve: 油obtain 油non-足dilu=ve 油funding 油 -足 Pharmaceu=cal, 油Agricultural 油and 油Biotechnology 油Companies 油 -足 Government 油contracts 油and 油grants 油 -足 Founda=ons 油 則р Core 油project 油support 油 -足 Directly 油advances 油companies 油objec=ves 油 則р Non-足core 油project 油support 油 -足 Reduces 油burn 油rate 油 -足 Increases 油cri=cal 油mass 油in 油organiza=on 油 -足 Can 油advance 油IP 油por4olio 油 則р Must 油have 油demonstrate 油capability 油 -足 Lab 油opera=ons 油 -足 Equipment 油 -足 Personnel 油 Market-足driven 油Development 油Contracts 油
則р United 油States 油 ≒ DARPA, 油$1.8 油million 油R&D 油Contract 油 ≒ www.so.gov 油 ≒ h^p://www.darpa.mil/Opportuni=es/Solicita=ons/ DARPA_Solicita=ons.aspx 油 ≒ h^ps://www.dtrasubmission.net/SignIn.asp 油 ≒ h^p://www.grants.gov/ 油 ≒ Gates 油Founda=on, 油$750,000 油Development 油Contract 油 油 ≒ h^p://www.iavi.org/ 油 ≒ h^p://www.gatesfounda=on.org/ 油 則р Canada 油 ≒ Undisclosed 油>$1 油million 油contract 油 ≒ h^p://www.merx.com 油 PlantForm 油Development 油Contracts 油
則р Government 油and 油Founda=on 油proposal 油process: 油 -足 Funding 油cycle 油or 油open 油=meframes 油 -足 Speci鍖c 油topics 油or 油white 油paper 油proposals 油 -足 General 油stages 油of 油applica=on 油process: 油 ≒ LOI 油> 油Summary 油> 油Full 油Proposal 油 則р Pharma, 油Ag 油and 油Biotech 油proposal 油process 油 -足 Website 油applica=on, 油ini=al 油review 油of 油interest 油 ≒ Syngenta 油(www.syngentathoughtseeders.com) 油 -足 Network 油Contacts 油 -足 Industry 油associa=ons 油support 油 ≒ MaRS, 油Toronto 油(www.marsdd.com) 油 Securing 油Development 油Contracts 油
Conferences: 油 則р Examples 油 -足 BIO, 油San 油Diego 油2014 油(conven=on.bio.org) 油 ≒ One-足On-足One 油Partnering 油a 油must 油 -足 Bio-足Europe, 油Vienna, 油Nov 油2013 油(www.ebdgroup.com/bioeurope) 油 -足 Bio-足Europe 油Spring, 油March 油2014, 油Turin 油(www.ebdgroup.com/bes) 油 -足 BioPharm 油America, 油Sept 油2013, 油Boston 油(www.ebdgroup.com/bpa) 油 -足 Sachs 油and 油Associates 油Forums 油(www.sachsforum.com) 油 -足 Conference 油strategy 油(advance 油research/game 油plan) 油 則р Approach 油 -足 Extensive 油use 油of 油partnering 油systems 油 -足 Set 油up 油other 油mee=ngs 油prior 油to 油conference 油 -足 Take 油advantage 油of 油networking 油events 油 Securing 油Development 油Contracts 油
則р Networking 油with 油Contacts 油 則р Trade 油Commissions 油 則р Industry 油Associa=ons 油 則р SBIR/STTR 油(www.sbir.gov) 油 -足 SBIR: 油 油support 油Small 油Businesses 油to 油engage 油in 油Federal 油R&D 油with 油 commercial 油poten=al 油 -足 STTR: 油 油support 油coopera=ve 油R&D 油between 油Small 油Business 油and 油 Research 油Ins=tu=ons 油for 油project 油with 油commercial 油poten=al 油 -足 Phase 油I, 油the 油startup 油phase, 油makes 油awards 油of 油"up 油to 油$150,000 油for 油 approximately 油6 油months 油support 油for 油explora=on 油of 油the 油technical 油 merit 油or 油feasibility 油of 油an 油idea 油or 油technology." 油 -足 Phase 油II 油awards 油grants 油of 油"up 油to 油$1 油million, 油for 油as 油many 油as 油2 油years 油in 油 order 油to 油facilitate 油expansion 油of 油Phase 油I 油results. 油 油 Securing 油Development 油Contracts 油
Securing 油Development 油Contracts 油 Government 油support 油 ≒ Canada 油 h^p://www.tradecommissioner.gc.ca 油 (Not 油the 油same 油as 油US 油FTC) 油 ≒ Cheryl 油Rogers, 油San 油Diego; 油Chris=ne 油Sarkisian, 油Boston 油 ≒ Benjamin 油Eliasoph, 油Technology 油Partnering 油O鍖cer, 油DC 油 Connected 油PlantForm 油to 油partners 油in 油Italy, 油USA, 油Australia 油 油 ≒ USA 油 Organiza=ons 油such 油as 油Interna=onal 油Trade 油Center 油(www.intracen.org) 油 Missions 油 ≒ States 油 Establish 油a 油presence 油in 油other 油countries 油 ≒ North 油Carolina 油Biotechnology 油Center 油(www.ncbiotech.org) 油 Missions 油
Development 油Contract 油Issues 油 則р Cau=on 油 則р You 油are 油sharing 油data 油and 油ideas 油with 油your 油compe==on 油 則р Mi=ga=on 油 則р Must 油have 油a 油Non-足Disclosure 油Agreements 油 則р Must 油track 油and 油record 油all 油informa=on 油provided 油 則р Use 油secure 油data 油rooms 油on 油internet 油 則р Control 油who 油views 油 則р Record 油of 油what 油was 油viewed 油 則р Use 油to 油gauge 油interest 油level 油
Development 油Contract 油Issues 油 則р Pros 油 Provide 油non-足dilu=ve 油funding 油 Advance 油companies 油products 油or 油core 油technology 油 則р Cons 油 Not 油necessarily 油aligned 油with 油primary 油corporate 油direc=on 油 油 Requires 油signi鍖cant 油use 油of 油resources 油 May 油require 油addi=onal 油non-足core 油hires 油(project 油or 油customer 油 rela=onship 油management) 油
Partnerships 油to 油advance 油business 油development/鍖nancing: 油 則р Objec=ve: 油Secure 油$7 油million 油project 油cost 油to 油next 油signi鍖cant 油 鍖nancing 油milestone 油 則р Summary 油diagram 油 Crea=ve 油Financing 油Partnerships 油 Cash 油investment 油 Contract 油manufacturing 油 油 Preclinical 油services 油 Clinical 油Services 油 Government 油Grants 油 Government 油Loans 油
$7 油million 油project 油cost 油 則р Equity 油 $2,000,000 油from 油Angels 油and/or 油Service 油Providers 油 則р Upstream 油Greenhouse 油services 油 50% 油of 油cost 油(not 油disclosed) 油 Business 油synergy 油 則р Downstream 油Puri鍖ca=on 油services 油 50% 油of 油cost 油(not 油disclosed) 油 油 Business 油synergy 油 則р Preclinical 油 100% 油as 油equity, 油Technomark 油Lifesciences 油 www.technomarkls.com 油 則р Phase 油I 油clinical 油 20% 油as 油equity, 油Cato 油Bioventures 油 www.catobioventures.com 油 Crea=ve 油Financing 油Partnerships 油
Blended 油Funding 油Model 油 Project 油 Poten5al 油External 油Funding 油 Ac5vity 油 Cost 油 Source 油 %age 油 Amount 油 Manufacturing 油Process 油Scale-足up 油 $696,051 油 Service 油providers 油 50% 油 $348,025 油 Manufacturing 油3x 油GLP 油Processes 油 $1,392,102 油 Service 油providers 油 50% 油 $696,051 油 Manufacturing 油1x 油GMP 油Process 油 $696,051 油 Service 油providers 油 50% 油 $348,025 油 GLP 油Mouse 油E鍖cacy 油Study 油 $139,210 油 GLP 油Pk 油Study 油 $69,605 油 Technomark, 油Equity 油 100% 油 $69,605 油 Safety 油and 油Toxicity 油Rodent 油Study 油 $278,420 油 Technomark, 油Equity 油 100% 油 $278,420 油 Safety 油and 油Toxicity 油Monkey 油Study 油 $1,113,682 油 Technomark, 油Equity 油 100% 油 $1,113,682 油 Safety 油and 油Toxicity 油Other 油Studies 油 $139,210 油 Technomark, 油Equity 油 100% 油 $139,210 油 Characteriza=on 油Studies 油 $500,000 油 Ontario 油program, 油Loan 油 100% 油 $500,000 油 Stability 油Study 油 $250,000 油 Ontario 油program, 油Loan 油 100% 油 $250,000 油 IND 油Submission 油 $100,000 油 Ontario 油program, 油Loan 油 100% 油 $100,000 油 (Grant) 油 $0 油 Ontario 油Program, 油Loan 油 100% 油 $650,000 油 Phase 油I 油Clinical 油Trial 油 $1,392,102 油 Cato 油Bioventures, 油Equity 油20% 油 $278,420 油 TOTAL 油PROJECT 油COST 油 $6,766,433 油 SUB-足TOTAL 油EXTERNAL 油 $4,771,440 油 EQUITY 油RAISE 油 $2,000,000 油
Summary 油of 油issues 油 ≒ Pros 油 Access 油to 油investment 油in 油a 油=ght 油money 油market 油 No 油change 油in 油control 油of 油the 油Company 油 ≒ Cons 油 Hard 油to 油鍖nd 油opportuni=es 油 Large 油amount 油of 油due 油diligence 油 Di鍖cult 油to 油bring 油di鍖erent 油par=es 油together 油at 油the 油same 油=me 油 Crea=ve 油Financing 油Partnerships 油
Polling 油Ques=on 油#3 油
Financing 油from 油the 油Middle 油East 油
Financing 油from 油the 油Middle 油East 油
Financing 油from 油the 油Middle 油East 油 則р Sources 油 -足 Sovereign 油Funds 油 ≒ >$500 油million 油 -足 Investment 油Funds 油 ≒ >$100 油million 油 -足 Private 油Funds 油 ≒ >$10 油million 油 -足 Zakat 油Funds 油 ≒ >$10 油million 油 -足 Strategic 油Investors 油 ≒ $10-足30 油million 油 -足 Private 油Banking 油 ≒ $4-足6 油million 油and 油$1 油million 油 則р Total 油ask 油and 油tranches 油larger 油than 油in 油USA 油 -足 ENBD 油minimum 油$30 油mm 油for 油Series 油A 油
Financing 油from 油the 油Middle 油East 油 Issues 油 則р Funds 油for 油鍖nancing 油are 油available 油 -足 Abu 油Dhabi 油GDP 油 油$248 油billion 油in 油2012, 油largely 油from 油oil 油 -足 Qatar 油GDP 油$189 油billion 油in 油2012, 油largely 油from 油natural 油gas 油 ≒ Abu 油Dhabi 油Investment 油Authority, 油ADIA 油(www.adia.ae) 油 ≒ Abu 油Dhabi 油Investment 油Council, 油ADIC(www.adcouncil.ae) 油 ≒ Qatar 油Investment 油Authority, 油QIA 油(www.qia.qa) 油 ≒ Ras 油Al 油Khaimah 油Investment 油Authority, 油RAKIA 油(www.rak-足ia.com) 油 則р Sophis=cated 油investors 油with 油general 油knowledge 油base 油 則р Commitment 油to 油partnerships 油 則р Interest 油in 油investments 油that 油commit 油to 油local 油ac=vi=es 油 -足 Job 油crea=on 油 -足 Facility 油builds 油 則р Tawazun 油Holding, 油an 油o鍖sets 油program 油which 油can 油be 油used 油to 油assist 油 with 油鍖nancing 油(www.tawazun.ae) 油
Financing 油from 油the 油Middle 油East 油 Issues 油 則р Synergy 油with 油Government 油objec=ves 油in 油diversi鍖ca=on 油 -足 United 油Arab 油Emirates 油Vision 油2021 油 ≒ 油(www.vision2021.ae) 油 ≒ UAE 油drives 油toward 油economic 油diversi鍖ca=on 油less 油reliant 油on 油oil. 油 Expanding 油new 油strategic 油sectors 油to 油build 油long-足term 油compe==ve 油 advantages. 油 -足 Abu 油Dhabi 油Economic 油Vision 油2030 油 ≒ (gsec.abudhabi.ae/Sites/GSEC/Naviga=on/EN/publica=ons,did=131400) 油 ≒ Comprehensive 油plan 油for 油the 油diversi鍖ca=on 油of 油the 油Emirates 油 economy 油and 油a 油signi鍖cant 油increase 油in 油the 油non-足oil 油sectors 油 contribu=on 油to 油GDP 油by 油the 油year 油2030. 油
Financing 油from 油the 油Middle 油East 油 則р Man 油on 油the 油ground 油 -足 Important 油to 油have 油a 油knowledgable 油and 油locally 油experienced 油contact 油 -足 PlantForms 油contact 油is 油a 油Canadian 油who 油operates 油a 油management 油 consul=ng 油business 油in 油Dubai 油 油 則р C-足level 油presence 油on 油the 油ground 油 -足 CEO 油must 油be 油on 油the 油ground, 油supported 油by 油CFO 油and 油other 油C-足level 油sta鍖 油 -足 PlantForm 油aims 油to 油be 油in 油the 油region 油every 油month 油 -足 This 油takes 油=me 油and 油resources 油away 油from 油other 油ac=vi=es 油 則р Embassy/Trade 油commission 油support 油 -足 Useful 油for 油general 油connec=ons 油and 油trade 油missions 油 -足 Embassy 油of 油Canada 油to 油United 油Arab 油Emirates 油 ≒ h^p://www.canadainterna=onal.gc.ca/uae-足eau 油 -足 Embassy 油of 油the 油United 油States 油to 油United 油Arab 油Emirates 油 ≒ abudhabi.usembassy.gov 油
Polling 油Ques=on 油#4 油
PlantForm 油Timeline 油in 油the 油Middle 油East 油 Year 油 Month 油 Ac5vity 油 2011 油 October 油 Healthcare 油conference 油in 油Abu 油Dhabi 油 November 油 3 油mee=ngs 油with 油investment 油group 油 2012 油 January 油 Term 油Sheet 油presented 油by 油Investor 油($10 油mm) 油 February 油 油March 油 Due 油Diligence 油and 油discussion 油 April 油 Investor 油withdraws 油(lost 油$170 油mm 油on 油another 油deal 油in 油USA) 油 May 油 Investor 油introduces 油Company 油to 油Emirates 油NBD 油Bank, 油Dubai 油 June 油 油October 油 3 油Dubai 油visits 油with 油ENBD, 油developing 油understanding 油at 油bank, 油 securing 油posi=ve 油opinion 油from 油risk 油group 油 November 油 Mee=ngs 油with 油10 油poten=al 油investor 油groups, 油Abu 油Dhabi, 油Dubai, 油 Qatar 油to 油test 油waters 油 December 油 Execute 油Mandate 油agreement 油with 油ENBD 油 Con=nued. 油
PlantForm 油Timeline 油in 油the 油Middle 油East 油 Year 油 Month 油 Ac5vity 油 2013 油 January 油 Mee=ngs 油in 油Dubai 油 Selec=on 油of 油lawyers, 油Dubai 油 Due 油diligence 油by 油ENBD 油and 油Lawyers 油 February 油 Mee=ngs 油in 油Dubai 油 Company 油posi=on 油papers 油wri^en 油 Market 油evalua=on 油by 油consultant 油 March 油 Mee=ngs 油in 油Dubai 油 Consultant 油review 油of 油drug 油product 油 Consultant 油reviews 油(2) 油of 油animal 油studies 油 Presenta=on 油materials 油dra~ed 油 April 油 Mee=ngs 油in 油Dubai 油 Final 油O鍖ering 油Memorandum 油and 油Term 油Sheet 油 Final 油Presenta=ons 油(15 油and 油80 油slide 油versions) 油 Con=nued. 油
PlantForm 油Timeline 油in 油the 油Middle 油East 油 Year 油 Month 油 Ac5vity 油 2013 油 May 油 Introduc=on 油of 油project 油to 油marke=ng 油to 油ENDB 油 Investment 油Banking 油 Investment 油Banking 油ini=ate 油marke=ng 油 June 油 Mee=ngs 油in 油Dubai 油 Introduc=on 油of 油project 油to 油marke=ng 油to 油ENBD 油 Private 油Banking 油Rela=onship 油Managers 油 Private 油Banking 油ini=ate 油marke=ng 油 Mee=ngs 油with 油Investors 油in 油Abu 油Dhabi, 油Dubai, 油 Ras 油Al 油Khaimah 油& 油London 油UK 油 July 油 Ongoing 油marke=ng 油
Financing 油from 油the 油Middle 油East 油 Summary 油of 油issues 油 ≒ Posi=ves 油 Financing 油available 油 Tranches 油much 油larger 油than 油in 油US 油 English 油language 油in 油the 油business 油and 油social 油environments 油 UK 油law 油for 油business 油 ≒ Issues 油to 油address 油 Time 油required 油on 油the 油ground 油to 油generate 油and 油advance 油 leads 油 Need 油to 油understand 油local 油business 油culture 油 Need 油to 油be 油鍖exible 油and 油use 油locally 油accepted 油business 油 prac=ces 油
Which 油Road 油to 油Travel 油 Where 油would 油PlantForm 油focus 油for 油early 油鍖nancing 油 knowing 油what 油we 油now 油know.. 油 1. Founda=ons 油and 油Family 油O鍖ces 油($500-足$2,000,000) 油 1. Project 油鍖nancing 油 2. Milestone 油driven 油 3. Do 油not 油want 油control 油 2. Individual 油Angels 油($25-足100,000) 油 1. Day 油to 油day 油funding 油 2. Steady 油in鍖ux 油of 油capital 油 3. Can 油make 油a 油special 油drive 油for 油an 油intermediate 油milestone 油 3. Middle 油East 油($10 油million 油plus) 油 1. Signi鍖cant 油capital 油depth 油 2. Increasing 油interest 油in 油diversifying 油investment 油por4olios 油 3. Board 油presence/shareholder 油control 油but 油opera=onal 油control 油remains 油with 油 Company 油 油
Discussion 油 Don 油Stewart, 油PhD 油 President 油& 油CEO 油 PlantForm 油Corpora4on 油 Toronto, 油Canada 油 don.stewart@plan4ormcorp.com 油

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Alternativefundingforvcswebinar 130716171411-phpapp01

  • 1. Don 油Stewart, 油PhD 油 President 油& 油CEO 油 PlantForm 油Corpora4on 油 Toronto, 油Canada 油 don.stewart@plan4ormcorp.com 油 Looking 油beyond 油VCs: 油Alterna5ve 油 funding 油routes 油for 油early-足stage 油life 油 science 油companies 油
  • 2. About SecureDocs 油 AppFolio SecureDocs is a virtual data room for sharing and storing sensitive documents both internally and with outside parties. AppFolio, Inc. Company Basics: ≒ Founded by the team that created and launched GoToMyPC and GoToMeeting ≒ Backed by leading technology companies and investors ≒ Web-based business software for financial and legal professionals
  • 3. PlantForm 油Summary 油 ≒ Canadian 油private 油corpora=on 油established 油 2008 油 ≒ Plant 油expression 油technology 油licensed 油 from 油the 油University 油of 油Guelph 油 ≒ $3.5 油million 油in 油funding 油from 油Founders 油& 油 Angels 油 ≒ $2.0 油million 油in 油funding 油from 油Government 油 ≒ $2.1 油million 油contract 油revenue 油in 油2013 油 ≒ 4 油families 油of 油patents 油鍖led 油 油 Innovator 油of 油the 油Year 油 Guelph, 油Canada, 油2010 油 Mind 油To 油Market 油Finalist 油 Ontario, 油Canada, 油2011 油 Winner 油Most 油Promising 油Technology 油 油 2012 油Venture 油Forum 油(New 油York) 油 Dr. 油Chris 油Hall. 油Co-足founder 油& 油CSO 油 油
  • 4. PlantForm 油Pipeline 油 Pipeline 油Drugs 油 Biosimilar 油 Hercep5n速 油 Biosimilar 油 Avas5n速 油 Biosimilar 油 Erbitux速 油 HIV 油an5bodies 油 Butyryl 油 cholinesterase 油 Poten5al 油Market 油Size 油 $ 油7bn 油 $ 油6bn 油 $ 油4bn 油 Market 油Entry 油 2016 油 2017-足019 油 Ongoing 油 revenue 油 stream 油U.S. 油Defense 油Advanced 油 Research 油Projects 油Agency 油
  • 5. More 油that 油20 油years 油experience 油in 油drug 油development 油and 油 approval. 油Worked 油with 油Cangene, 油which 油grew 油from 油a 油10-足 person 油start-足up 油to 油an 油800-足employee, 油$250 油million 油 biotechnology 油company. 油 油Experience 油in 油all 油aspects 油of 油 drug 油development 油and 油regulatory 油approval 油of 油parenteral 油 drugs. Don 油Stewart 油PhD President 油& 油CEO Co-足founder Director 油R&D President 油and 油 owner Consulting 油 company 油 founded 油 in 油 2007; 油 油 supporting 油 Biotech 油 and 油 Pharma 油 in 油 translation 油 of 油 parenteral 油 manufacturing 油 processes 油 from 油 the 油 laboratory 油 bench 油 to 油 GMP 油 manufacturing 油 facilities. 油 油 Opening 油 sales 油 opportunities 油in 油Canada 油for 油international 油companies Presenter 油
  • 7. Finding 油Angels 油 則р GUST 油database 油 油(h^p://gust.com) 油 則р Example 油 油Los 油Angeles: 油 ≒ Angel 油Groups 油 AngelVision 油Investors 油 PCN 油Los 油Angeles 油 Icon 油Angels 油 ≒ Venture 油Funds 油 Kline 油Hawkes 油& 油Co 油 Rivenrock 油Capital 油 Macquarie 油Allegiance 油Capital 油 Barre^ 油 ≒ Business 油Plan 油Compe==on 油 UCLA 油Knapp 油Venture 油Compe==on 油 ≒ Your 油network 油of 油other 油start-足ups 油 ≒ Conferences 油 ≒ Trade 油commissions 油 ≒ State 油agencies 油
  • 8. Angel 油Networking 油Conferences 油 SoCalBio 油Investor 油& 油Partnership 油Conference 油 ≒ 6 油November, 油2013 油@ 油Omni 油Hotel, 油LA 油 ≒ h^p://www.socalbio.org/ 油 Keiretsu 油Forum 油San 油Diego 油 ≒ h^p://www.keiretsuforum.com/global-足chapters/san-足diego/ 油 Beer 油& 油 油Partners 油 ≒ Investment 油Fair, 油London, 油UK 油(Spring 油and 油Fall) 油 ≒ h^p://www.beerandpartners.com/ 油 Biotrinity, 油UK 油 ≒ May 油2014, 油London, 油UK 油 ≒ www.obn.org.uk 油 Bright 油Bu鍖alo 油Niagara 油Venture 油Forum 油 油 ≒ h^ps://gust.com/r/sessions/via_group/25737 油
  • 9. Angels: 油 油GUST 油home 油page 油
  • 10. GUST 油Experience 油 油 Searchable 油internet 油portal 油to 油access 油angels: 油 h^p://gust.com/ 油 Need 油to 油load 油detailed 油informa=on 油 Video 油helps 油 Business 油plan 油helps 油 Detailed 油鍖nancials 油help 油 Requires 油e鍖ort 油to 油be 油useful 油 Entrepreneur 油needs 油to 油drive 油the 油process 油 Not 油everyone 油responds 油 Use 油by 油spam 油organiza=ons 油to 油mine 油for 油start-足ups 油
  • 12. Angel 油Funding 油Process 油 ≒ Many 油groups 油have 油their 油own 油applica=on 油 format 油in 油addi=on 油to 油GUST 油 Time 油consuming 油 ≒ Angel 油groups 油like 油to 油provide 油mentoring 油for 油 pitch 油 Time 油consuming 油and 油not 油always 油helpful 油 ≒ Angel 油groups 油due 油diligence 油can 油involve 油 considerable 油educa=on 油on 油your 油area 油 Time 油consuming 油
  • 13. Angels: 油Third-足Party 油Finders 油 Professional 油鍖nders 油 ≒ Upfront 油fees 油+ 油expenses 油 ≒ Fees 油to 油present 油at 油conferences 油 ≒ Success 油fee 油(Cash 油and 油Warrants/Op=ons) 油 ≒ East 油Coast 油Group 油 $17,000 油fees 油 2 油Conferences, 油Stamford 油and 油New 油York, 油USA 油 ≒ No 油personal 油commitment 油 ≒ For 油PlantForm: 油No 油investment 油 Ad 油hoc 油鍖nders 油(investors) 油 ≒ No 油upfront 油fee, 油pay 油expenses 油 ≒ Success 油fee 油(5-足7% 油 油Cash, 油5-足7% 油Op=ons) 油 油 ≒ Well-足connected 油individuals 油do 油groundwork, 油organize 油groups 油in 油a 油home 油or 油 restaurant 油 ≒ Prospec=ve 油investors 油want 油to 油meet 油CEO 油 ≒ For 油PlantForm: 油4 油events 油= 油$500,000 油investment 油
  • 15. 則р Objec=ve: 油obtain 油non-足dilu=ve 油funding 油 -足 Pharmaceu=cal, 油Agricultural 油and 油Biotechnology 油Companies 油 -足 Government 油contracts 油and 油grants 油 -足 Founda=ons 油 則р Core 油project 油support 油 -足 Directly 油advances 油companies 油objec=ves 油 則р Non-足core 油project 油support 油 -足 Reduces 油burn 油rate 油 -足 Increases 油cri=cal 油mass 油in 油organiza=on 油 -足 Can 油advance 油IP 油por4olio 油 則р Must 油have 油demonstrate 油capability 油 -足 Lab 油opera=ons 油 -足 Equipment 油 -足 Personnel 油 Market-足driven 油Development 油Contracts 油
  • 16. 則р United 油States 油 ≒ DARPA, 油$1.8 油million 油R&D 油Contract 油 ≒ www.so.gov 油 ≒ h^p://www.darpa.mil/Opportuni=es/Solicita=ons/ DARPA_Solicita=ons.aspx 油 ≒ h^ps://www.dtrasubmission.net/SignIn.asp 油 ≒ h^p://www.grants.gov/ 油 ≒ Gates 油Founda=on, 油$750,000 油Development 油Contract 油 油 ≒ h^p://www.iavi.org/ 油 ≒ h^p://www.gatesfounda=on.org/ 油 則р Canada 油 ≒ Undisclosed 油>$1 油million 油contract 油 ≒ h^p://www.merx.com 油 PlantForm 油Development 油Contracts 油
  • 17. 則р Government 油and 油Founda=on 油proposal 油process: 油 -足 Funding 油cycle 油or 油open 油=meframes 油 -足 Speci鍖c 油topics 油or 油white 油paper 油proposals 油 -足 General 油stages 油of 油applica=on 油process: 油 ≒ LOI 油> 油Summary 油> 油Full 油Proposal 油 則р Pharma, 油Ag 油and 油Biotech 油proposal 油process 油 -足 Website 油applica=on, 油ini=al 油review 油of 油interest 油 ≒ Syngenta 油(www.syngentathoughtseeders.com) 油 -足 Network 油Contacts 油 -足 Industry 油associa=ons 油support 油 ≒ MaRS, 油Toronto 油(www.marsdd.com) 油 Securing 油Development 油Contracts 油
  • 18. Conferences: 油 則р Examples 油 -足 BIO, 油San 油Diego 油2014 油(conven=on.bio.org) 油 ≒ One-足On-足One 油Partnering 油a 油must 油 -足 Bio-足Europe, 油Vienna, 油Nov 油2013 油(www.ebdgroup.com/bioeurope) 油 -足 Bio-足Europe 油Spring, 油March 油2014, 油Turin 油(www.ebdgroup.com/bes) 油 -足 BioPharm 油America, 油Sept 油2013, 油Boston 油(www.ebdgroup.com/bpa) 油 -足 Sachs 油and 油Associates 油Forums 油(www.sachsforum.com) 油 -足 Conference 油strategy 油(advance 油research/game 油plan) 油 則р Approach 油 -足 Extensive 油use 油of 油partnering 油systems 油 -足 Set 油up 油other 油mee=ngs 油prior 油to 油conference 油 -足 Take 油advantage 油of 油networking 油events 油 Securing 油Development 油Contracts 油
  • 19. 則р Networking 油with 油Contacts 油 則р Trade 油Commissions 油 則р Industry 油Associa=ons 油 則р SBIR/STTR 油(www.sbir.gov) 油 -足 SBIR: 油 油support 油Small 油Businesses 油to 油engage 油in 油Federal 油R&D 油with 油 commercial 油poten=al 油 -足 STTR: 油 油support 油coopera=ve 油R&D 油between 油Small 油Business 油and 油 Research 油Ins=tu=ons 油for 油project 油with 油commercial 油poten=al 油 -足 Phase 油I, 油the 油startup 油phase, 油makes 油awards 油of 油"up 油to 油$150,000 油for 油 approximately 油6 油months 油support 油for 油explora=on 油of 油the 油technical 油 merit 油or 油feasibility 油of 油an 油idea 油or 油technology." 油 -足 Phase 油II 油awards 油grants 油of 油"up 油to 油$1 油million, 油for 油as 油many 油as 油2 油years 油in 油 order 油to 油facilitate 油expansion 油of 油Phase 油I 油results. 油 油 Securing 油Development 油Contracts 油
  • 20. Securing 油Development 油Contracts 油 Government 油support 油 ≒ Canada 油 h^p://www.tradecommissioner.gc.ca 油 (Not 油the 油same 油as 油US 油FTC) 油 ≒ Cheryl 油Rogers, 油San 油Diego; 油Chris=ne 油Sarkisian, 油Boston 油 ≒ Benjamin 油Eliasoph, 油Technology 油Partnering 油O鍖cer, 油DC 油 Connected 油PlantForm 油to 油partners 油in 油Italy, 油USA, 油Australia 油 油 ≒ USA 油 Organiza=ons 油such 油as 油Interna=onal 油Trade 油Center 油(www.intracen.org) 油 Missions 油 ≒ States 油 Establish 油a 油presence 油in 油other 油countries 油 ≒ North 油Carolina 油Biotechnology 油Center 油(www.ncbiotech.org) 油 Missions 油
  • 21. Development 油Contract 油Issues 油 則р Cau=on 油 則р You 油are 油sharing 油data 油and 油ideas 油with 油your 油compe==on 油 則р Mi=ga=on 油 則р Must 油have 油a 油Non-足Disclosure 油Agreements 油 則р Must 油track 油and 油record 油all 油informa=on 油provided 油 則р Use 油secure 油data 油rooms 油on 油internet 油 則р Control 油who 油views 油 則р Record 油of 油what 油was 油viewed 油 則р Use 油to 油gauge 油interest 油level 油
  • 22. Development 油Contract 油Issues 油 則р Pros 油 Provide 油non-足dilu=ve 油funding 油 Advance 油companies 油products 油or 油core 油technology 油 則р Cons 油 Not 油necessarily 油aligned 油with 油primary 油corporate 油direc=on 油 油 Requires 油signi鍖cant 油use 油of 油resources 油 May 油require 油addi=onal 油non-足core 油hires 油(project 油or 油customer 油 rela=onship 油management) 油
  • 23. Partnerships 油to 油advance 油business 油development/鍖nancing: 油 則р Objec=ve: 油Secure 油$7 油million 油project 油cost 油to 油next 油signi鍖cant 油 鍖nancing 油milestone 油 則р Summary 油diagram 油 Crea=ve 油Financing 油Partnerships 油 Cash 油investment 油 Contract 油manufacturing 油 油 Preclinical 油services 油 Clinical 油Services 油 Government 油Grants 油 Government 油Loans 油
  • 24. $7 油million 油project 油cost 油 則р Equity 油 $2,000,000 油from 油Angels 油and/or 油Service 油Providers 油 則р Upstream 油Greenhouse 油services 油 50% 油of 油cost 油(not 油disclosed) 油 Business 油synergy 油 則р Downstream 油Puri鍖ca=on 油services 油 50% 油of 油cost 油(not 油disclosed) 油 油 Business 油synergy 油 則р Preclinical 油 100% 油as 油equity, 油Technomark 油Lifesciences 油 www.technomarkls.com 油 則р Phase 油I 油clinical 油 20% 油as 油equity, 油Cato 油Bioventures 油 www.catobioventures.com 油 Crea=ve 油Financing 油Partnerships 油
  • 25. Blended 油Funding 油Model 油 Project 油 Poten5al 油External 油Funding 油 Ac5vity 油 Cost 油 Source 油 %age 油 Amount 油 Manufacturing 油Process 油Scale-足up 油 $696,051 油 Service 油providers 油 50% 油 $348,025 油 Manufacturing 油3x 油GLP 油Processes 油 $1,392,102 油 Service 油providers 油 50% 油 $696,051 油 Manufacturing 油1x 油GMP 油Process 油 $696,051 油 Service 油providers 油 50% 油 $348,025 油 GLP 油Mouse 油E鍖cacy 油Study 油 $139,210 油 GLP 油Pk 油Study 油 $69,605 油 Technomark, 油Equity 油 100% 油 $69,605 油 Safety 油and 油Toxicity 油Rodent 油Study 油 $278,420 油 Technomark, 油Equity 油 100% 油 $278,420 油 Safety 油and 油Toxicity 油Monkey 油Study 油 $1,113,682 油 Technomark, 油Equity 油 100% 油 $1,113,682 油 Safety 油and 油Toxicity 油Other 油Studies 油 $139,210 油 Technomark, 油Equity 油 100% 油 $139,210 油 Characteriza=on 油Studies 油 $500,000 油 Ontario 油program, 油Loan 油 100% 油 $500,000 油 Stability 油Study 油 $250,000 油 Ontario 油program, 油Loan 油 100% 油 $250,000 油 IND 油Submission 油 $100,000 油 Ontario 油program, 油Loan 油 100% 油 $100,000 油 (Grant) 油 $0 油 Ontario 油Program, 油Loan 油 100% 油 $650,000 油 Phase 油I 油Clinical 油Trial 油 $1,392,102 油 Cato 油Bioventures, 油Equity 油20% 油 $278,420 油 TOTAL 油PROJECT 油COST 油 $6,766,433 油 SUB-足TOTAL 油EXTERNAL 油 $4,771,440 油 EQUITY 油RAISE 油 $2,000,000 油
  • 26. Summary 油of 油issues 油 ≒ Pros 油 Access 油to 油investment 油in 油a 油=ght 油money 油market 油 No 油change 油in 油control 油of 油the 油Company 油 ≒ Cons 油 Hard 油to 油鍖nd 油opportuni=es 油 Large 油amount 油of 油due 油diligence 油 Di鍖cult 油to 油bring 油di鍖erent 油par=es 油together 油at 油the 油same 油=me 油 Crea=ve 油Financing 油Partnerships 油
  • 28. Financing 油from 油the 油Middle 油East 油
  • 29. Financing 油from 油the 油Middle 油East 油
  • 30. Financing 油from 油the 油Middle 油East 油 則р Sources 油 -足 Sovereign 油Funds 油 ≒ >$500 油million 油 -足 Investment 油Funds 油 ≒ >$100 油million 油 -足 Private 油Funds 油 ≒ >$10 油million 油 -足 Zakat 油Funds 油 ≒ >$10 油million 油 -足 Strategic 油Investors 油 ≒ $10-足30 油million 油 -足 Private 油Banking 油 ≒ $4-足6 油million 油and 油$1 油million 油 則р Total 油ask 油and 油tranches 油larger 油than 油in 油USA 油 -足 ENBD 油minimum 油$30 油mm 油for 油Series 油A 油
  • 31. Financing 油from 油the 油Middle 油East 油 Issues 油 則р Funds 油for 油鍖nancing 油are 油available 油 -足 Abu 油Dhabi 油GDP 油 油$248 油billion 油in 油2012, 油largely 油from 油oil 油 -足 Qatar 油GDP 油$189 油billion 油in 油2012, 油largely 油from 油natural 油gas 油 ≒ Abu 油Dhabi 油Investment 油Authority, 油ADIA 油(www.adia.ae) 油 ≒ Abu 油Dhabi 油Investment 油Council, 油ADIC(www.adcouncil.ae) 油 ≒ Qatar 油Investment 油Authority, 油QIA 油(www.qia.qa) 油 ≒ Ras 油Al 油Khaimah 油Investment 油Authority, 油RAKIA 油(www.rak-足ia.com) 油 則р Sophis=cated 油investors 油with 油general 油knowledge 油base 油 則р Commitment 油to 油partnerships 油 則р Interest 油in 油investments 油that 油commit 油to 油local 油ac=vi=es 油 -足 Job 油crea=on 油 -足 Facility 油builds 油 則р Tawazun 油Holding, 油an 油o鍖sets 油program 油which 油can 油be 油used 油to 油assist 油 with 油鍖nancing 油(www.tawazun.ae) 油
  • 32. Financing 油from 油the 油Middle 油East 油 Issues 油 則р Synergy 油with 油Government 油objec=ves 油in 油diversi鍖ca=on 油 -足 United 油Arab 油Emirates 油Vision 油2021 油 ≒ 油(www.vision2021.ae) 油 ≒ UAE 油drives 油toward 油economic 油diversi鍖ca=on 油less 油reliant 油on 油oil. 油 Expanding 油new 油strategic 油sectors 油to 油build 油long-足term 油compe==ve 油 advantages. 油 -足 Abu 油Dhabi 油Economic 油Vision 油2030 油 ≒ (gsec.abudhabi.ae/Sites/GSEC/Naviga=on/EN/publica=ons,did=131400) 油 ≒ Comprehensive 油plan 油for 油the 油diversi鍖ca=on 油of 油the 油Emirates 油 economy 油and 油a 油signi鍖cant 油increase 油in 油the 油non-足oil 油sectors 油 contribu=on 油to 油GDP 油by 油the 油year 油2030. 油
  • 33. Financing 油from 油the 油Middle 油East 油 則р Man 油on 油the 油ground 油 -足 Important 油to 油have 油a 油knowledgable 油and 油locally 油experienced 油contact 油 -足 PlantForms 油contact 油is 油a 油Canadian 油who 油operates 油a 油management 油 consul=ng 油business 油in 油Dubai 油 油 則р C-足level 油presence 油on 油the 油ground 油 -足 CEO 油must 油be 油on 油the 油ground, 油supported 油by 油CFO 油and 油other 油C-足level 油sta鍖 油 -足 PlantForm 油aims 油to 油be 油in 油the 油region 油every 油month 油 -足 This 油takes 油=me 油and 油resources 油away 油from 油other 油ac=vi=es 油 則р Embassy/Trade 油commission 油support 油 -足 Useful 油for 油general 油connec=ons 油and 油trade 油missions 油 -足 Embassy 油of 油Canada 油to 油United 油Arab 油Emirates 油 ≒ h^p://www.canadainterna=onal.gc.ca/uae-足eau 油 -足 Embassy 油of 油the 油United 油States 油to 油United 油Arab 油Emirates 油 ≒ abudhabi.usembassy.gov 油
  • 35. PlantForm 油Timeline 油in 油the 油Middle 油East 油 Year 油 Month 油 Ac5vity 油 2011 油 October 油 Healthcare 油conference 油in 油Abu 油Dhabi 油 November 油 3 油mee=ngs 油with 油investment 油group 油 2012 油 January 油 Term 油Sheet 油presented 油by 油Investor 油($10 油mm) 油 February 油 油March 油 Due 油Diligence 油and 油discussion 油 April 油 Investor 油withdraws 油(lost 油$170 油mm 油on 油another 油deal 油in 油USA) 油 May 油 Investor 油introduces 油Company 油to 油Emirates 油NBD 油Bank, 油Dubai 油 June 油 油October 油 3 油Dubai 油visits 油with 油ENBD, 油developing 油understanding 油at 油bank, 油 securing 油posi=ve 油opinion 油from 油risk 油group 油 November 油 Mee=ngs 油with 油10 油poten=al 油investor 油groups, 油Abu 油Dhabi, 油Dubai, 油 Qatar 油to 油test 油waters 油 December 油 Execute 油Mandate 油agreement 油with 油ENBD 油 Con=nued. 油
  • 36. PlantForm 油Timeline 油in 油the 油Middle 油East 油 Year 油 Month 油 Ac5vity 油 2013 油 January 油 Mee=ngs 油in 油Dubai 油 Selec=on 油of 油lawyers, 油Dubai 油 Due 油diligence 油by 油ENBD 油and 油Lawyers 油 February 油 Mee=ngs 油in 油Dubai 油 Company 油posi=on 油papers 油wri^en 油 Market 油evalua=on 油by 油consultant 油 March 油 Mee=ngs 油in 油Dubai 油 Consultant 油review 油of 油drug 油product 油 Consultant 油reviews 油(2) 油of 油animal 油studies 油 Presenta=on 油materials 油dra~ed 油 April 油 Mee=ngs 油in 油Dubai 油 Final 油O鍖ering 油Memorandum 油and 油Term 油Sheet 油 Final 油Presenta=ons 油(15 油and 油80 油slide 油versions) 油 Con=nued. 油
  • 37. PlantForm 油Timeline 油in 油the 油Middle 油East 油 Year 油 Month 油 Ac5vity 油 2013 油 May 油 Introduc=on 油of 油project 油to 油marke=ng 油to 油ENDB 油 Investment 油Banking 油 Investment 油Banking 油ini=ate 油marke=ng 油 June 油 Mee=ngs 油in 油Dubai 油 Introduc=on 油of 油project 油to 油marke=ng 油to 油ENBD 油 Private 油Banking 油Rela=onship 油Managers 油 Private 油Banking 油ini=ate 油marke=ng 油 Mee=ngs 油with 油Investors 油in 油Abu 油Dhabi, 油Dubai, 油 Ras 油Al 油Khaimah 油& 油London 油UK 油 July 油 Ongoing 油marke=ng 油
  • 38. Financing 油from 油the 油Middle 油East 油 Summary 油of 油issues 油 ≒ Posi=ves 油 Financing 油available 油 Tranches 油much 油larger 油than 油in 油US 油 English 油language 油in 油the 油business 油and 油social 油environments 油 UK 油law 油for 油business 油 ≒ Issues 油to 油address 油 Time 油required 油on 油the 油ground 油to 油generate 油and 油advance 油 leads 油 Need 油to 油understand 油local 油business 油culture 油 Need 油to 油be 油鍖exible 油and 油use 油locally 油accepted 油business 油 prac=ces 油
  • 39. Which 油Road 油to 油Travel 油 Where 油would 油PlantForm 油focus 油for 油early 油鍖nancing 油 knowing 油what 油we 油now 油know.. 油 1. Founda=ons 油and 油Family 油O鍖ces 油($500-足$2,000,000) 油 1. Project 油鍖nancing 油 2. Milestone 油driven 油 3. Do 油not 油want 油control 油 2. Individual 油Angels 油($25-足100,000) 油 1. Day 油to 油day 油funding 油 2. Steady 油in鍖ux 油of 油capital 油 3. Can 油make 油a 油special 油drive 油for 油an 油intermediate 油milestone 油 3. Middle 油East 油($10 油million 油plus) 油 1. Signi鍖cant 油capital 油depth 油 2. Increasing 油interest 油in 油diversifying 油investment 油por4olios 油 3. Board 油presence/shareholder 油control 油but 油opera=onal 油control 油remains 油with 油 Company 油 油
  • 40. Discussion 油 Don 油Stewart, 油PhD 油 President 油& 油CEO 油 PlantForm 油Corpora4on 油 Toronto, 油Canada 油 don.stewart@plan4ormcorp.com 油