Biotech startups are still winning federal grants, accelerator founder says — but the money is taking longer to trickle in
HiveBio, a local accelerator program that aims to support underrepresented founders in the life sciences space, recently received a $250,000 grant from Knight Foundation to support its startup programming, which includes connecting companies with lucrative federal funding opportunities.
So far, in the face of the chaos, those awards are still being made, according to program founder Tia Lyles-Williams.
'We're not hearing things being denied,' Lyles-Williams told reporter Sarah Huffman on Technical.ly Speaking, a monthly segment on WURD Radio's 'Reality Check' hosted by Tonya Pendleton, 'We're hearing things being slowed down to be paid out or slowed down to be reviewed'
The 'secret sauce' of HiveBio is its focus on helping founders find those funding sources, she said. It connects them to agencies like the National Institutes of Health and the National Science Foundation to find grant opportunities that fit their missions. Startups in the program typically get around $250,000 from those efforts, and have raised as much as $400,000, per Lyles-Williams.
It's not just the funding bottlenecks adding a layer of complexity to HiveBio's work.
As the Trump administration promotes derogatory rhetoric around diversity, equity and inclusion programming, the program's mission to support underrepresented founders has become increasingly controversial.
'Underrepresented founders just don't have that chance,' Lyles-Williams said. 'It was not only because of necessarily racism, but also due to some of the issues that they're addressing with their startup may not be something prevalent or something known by the venture capital world.'
The accelerator program is hoping the science speaks for itself, she added, explaining that while language in the grant proposals may change, the work carries undeniable impact.
Lyles-Williams urged private sector investors to step up. While federal opportunities remain, now's the time for venture capitalists to offer more support for underrepresented founders.
'The federal government is not the only opportunity for funding for our founders,' Lyles-Williams said. 'If you are a VC, a venture capitalist firm, if you are an angel investor … [it's] extremely helpful to help put those products to market.'
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