An Initiative of the City of Akron

Akron Bioinvestments Fund II Applicant Company Selection Criteria 

Any domestic or international company may apply for ABF II funding if the company satisfies all of the following Selection Criteria. 

1. Basic General Requirements. (a) have at least one working prototype; (b) identify a proven market need; (c) have a defined and partially validated value proposition; (d) have some intellectual property; (e) have some management expertise in place. 

2. Meet the ABF II definition of a “Life Science Company" Specifically a Life Science Company means any corporation, partnership, limited liability company, organization, or other association with a focus on traditional life sciences, medical IT, bio-agriculture, clean water, and/or clean technology. Life Science Company does not include pure pharmaceutical companies. 

3. Be consistent with ABF II Goals.  The Goals of ABF II are: (a) to support the commercialization of high potential demonstration and market entry stage Life Science Companies; (b) to support the attraction of national and international Life Science Companies into Akron, thereby enhancing cluster development; (c) funding the acceleration of job creation in Akron, with a specific focus on the Biomedical Corridor; (d) strive for a return on investment for AFB II stakeholders consistent with a community-based impact investing model that also attempts to meet the ABF II goal to create economic development. 

4. Investment Awards must be consistent with the stage of company development. Specifically, Product Development Awards may be awarded to companies in the late incubation- early demonstration stage of development. Rapid Commercialization Awards may be awarded to companies in the late demonstration or early market entry stage of development. Market Entry Award may be awarded to companies in the later market entry stage of development. 

5. Complete an ABF II Application, including the Application Terms and Conditions. To view the application, click here