PTRME Founders’ Journey focuses on entrepreneurs in ‘fireside chat’
This article originally appeared via NCBiotech's blog
The Piedmont Triad Regenerative Medicine Engine (PTRME) presented its first large-scale workshop, The Founders’ Journey, on April 14 and 15 to support biotech researchers, founders, and entrepreneurs.
“PTRME’s top goal is to create a cooperative ecosystem in which researchers can commercialize their biotechnology and regenerative medicine solutions, create jobs and impact economic development—and that begins by establishing a strong entrepreneurial foundation,” said Tim Bertram, CEO of PTRME. “We have the unique opportunity to build an industrial-academic ecosystem focused on regenerative medicine commercialization that does not exist anywhere else in the world.”
Hosted at nonprofit incubator and accelerator Winston Starts, The Founders’ Journey focused on venture-backed biotechnology businesses, with sessions that covered topics from idea validation to team building. The first day culminated in a “fireside chat” panel with local biotech CEOs and state officials.
Nancy Johnston, executive director of the Piedmont Triad office for the North Carolina Biotechnology Center, moderated the panel and explained the economic impacts of the life sciences in N.C.
“It’s an $82 billion impact, over 100,000 jobs, and our employment growth is second only to Massachusetts,” Johnston said. “We have outpaced national industry growth. And, relevant to this panel, is that North Carolina life sciences establishments grew 43 percent, from 2019 to 2023.”
The panel included Carrie DiMarzio, CEO of BMI OrganBank; AJ Mellott, CEO of Ronawk; Mike Carnes, vice president of Emerging Company Development at NCBiotech; and John Hardin, executive director of the N.C. Board of Science, Technology, and Innovation.
Carnes from NCBiotech spoke about some success factors for emerging companies.
“As a startup company spinning out of a university or academic research, there are a number of predictive factors that will contribute to the success of the company,” Carnes said. “One of those is taking advantage of the resources and the network that you have around you. It’s really critical to find the right advisors, the folks who’ve done this before and can lend advice so you can start putting together a critical story and strategy.”
Watch a recording of the fireside chat here.
On the second day, attendees participated in ‘office hours,’ sitting down one-on-one for tailored mentoring and advice with industry experts.
The Founders’ Journey was underwritten by the National Science Foundation and The Builder Platform, an organization dedicated to supporting the growth of the NSF’s Regional Economic Engines. Funded by the CHIPS and Science Act of 2022, the NSF awarded its inaugural cohort of Regional Economic Engines in early 2024. PTRME initially received $15 million and is eligible, upon meeting certain standards and criteria, to receive total funding of $160 million over the coming decade.
“Regenerative medicine solutions are being advanced frequently. Decisions on how to commercialize these technologies so they can have the most impact on lives are important for our global community. With the Piedmont Triad Regenerative Medicine Engine, we know that our region will be well-positioned to take advantage of this emerging field,” said Dr. Anthony Atala, director of the Wake Forest Institute for Regenerative Medicine.
PTRME supports economic development in a 16-county region of central North Carolina through use-inspired research, technology translation, and workforce development at WFIRM, Winston-Salem State University, North Carolina Agricultural and Technical State University, and Forsyth Technical Community College.
By fostering innovation in regenerative medicine, PTRME supports the development of new technologies, the creation of new jobs, and the attraction of investment to the region. The initiative unites academia, industry, and government to accelerate commercialization, provide resources to startups, and train a skilled workforce, thereby cementing central North Carolina as the leading location for the rapidly growing regenerative medicine industry.
