Tenant Selection Criteria

Lakeshore Advantage BioBusiness Accelerator at the MSU Bioeconomy Institute, Holland, MI

Qualified companies that desire to lease laboratory and/or office space at the MSU Bioeconomy Institute may simultaneously apply for participation in the BioBusiness Accelerator programs administered by Lakeshore Advantage. Companies will be required to submit a completed admission application and also demonstrate an acceptable level of business planning, management capability, and financial stability. The business plan should include, at a minimum, a description of the nature of the business, the business model, proprietary products and technologies, a market analysis, description of the organization and management qualifications, an operational plan and budget, development timeline and significant milestones, capitalization/funding requirements and 5-year financial projections. 

Acceptance into the BioBusiness Accelerator program will be based upon the admission committee’s evaluation of the company’s conformance to several additional considerations. It is desired that prospective companies would:

• be incorporated as for-profit, Michigan entities with valid tax ID numbers.
• be early-stage companies with high growth potential that are operating in areas of technology or service relevant to Michigan’s developing bioeconomy. 
• have some technological aspect to its character that would be enhanced by establishing a working relationship with one or more of the University’s academic units. The Company should have a clear need for the equipment, facilities, and services available at the Institute. 
• be needful of, and receptive to, the business assistance and council available through the BioBusiness Accelerator and Lakeshore Advantage.
• consider internships, co-op student programs, and on-site collaborative research as part of their operational strategy. 
• be willing to abide by the operating guidelines established by the BioBusiness Accelerator and MSU.

Note: The facilities at the MSU Bioeconomy Institute will naturally support small to medium scale production activities, and limited operations of this nature may be permitted. However, sustained access to the pilot plant equipment should incorporate a strong technical component such as product design, R&D, or advanced engineering and manufacturing technology.