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Page5ofdirectorsofthecompanysaidPerelman.Ialsolookfortechnologythatmakessensetomeasanon-scientist.WhencompaniesarepitchingtoinvestorsinthelifesciencesindustryitsallaboutthesciencesaidFiorentino.WewouldallliketobelieveweareinvestinginthenextCelgeneorBiogen.Whenentrepreneursarepitchingtoinvestorstheyshouldbringalongthoseonthemanage-mentteamthataddresspotentialweaknessesofthefounder.Therearesomestatisticsouttherethatover40percentofbiotechinvestorssustainfullorpartiallossessoyoureallyhavetohaveateamthatcanshowthattheyareconfidentinthetechnologysaidFiorentino.Thetrackrecordandpedigreeofmanagementcantbeunderesti-mated.Thecompaniesneedtoshowusthattheirteamcangetthecompanytothenextlevel.Theyalsoneedtogivetheinvestorthesensethattheintellectualpropertyiswellprotected.Andtheyneedtodemonstratethatthemoneywillbeusedefficiently.IInvestorInvolvementintheCompanyTheamountofinvolvementthatinvestorshaveinthecompaniesinwhichtheyinvestdependsonthelevelofsophisticationoftheinvestorandthemanagementteam.ThereisnoonesizefitsallsaidFiorentino.AsmoreandmoreVCstendtode-riskandtrytosyndicatewithotherfirmsthereisalwaystheconcernoftoomanycooksinthekitchen.Iwouldrecommendthatentrepreneursconnectwithonemajorleadinginvestorthatcancomplementthemanagementteamandhavethelevelofsophisticationtogetthemthroughseveralfundingrounds.EditorsNoteBothPerelmanandFiorentinomakeinvestmentsindependentoftheirrolesatFriedmanLLPtheyhavenopersonalaccountingrelationshipwiththecompaniesinwhichtheyinvest.RutgersFoodInnovationCenterNewestSoftLandingsIncubatorTheNationalBusinessIncubationAssociationhasawardedtheNBIASoftLandingsInternationalIncu-batordesignationtotheRutgersFoodInnovationCenter.ThroughitsSoftLandingsprogramNBIArecognizesbusinessincubationprogramsthatareespeciallycapableofhelpingnondomesticcompaniesentertheincubatorsdomesticmarket.TheFoodInnovationCenterwasselectedbecauseofitsbusinessservicesfornondomesticfirmsanditsdemonstratedsuccessathelpingthesefirmsentertheU.S.marketsaidRandyMorrisNBIAdirectorofmemberservices.BusinessincubationprogramsliketheFoodInnova-tionCentercatalyzetheprocessofstartingandgrowingcompaniesbyprovidingentrepreneurswiththeexpertisenetworksandtoolstheyneedtobesuccessful.Incubatingnondomesticfirmstakesmorethanthestandardsetofincubationserviceshowever.TheSoftLandingsdesignationrecognizesanincubatorsfocusonwelcomingnondomesticfirmsintoitsdomesticmarketwithtranslationserviceshelpcuttingthroughgovernmentalredtapeaccesstocapitaldomesticmarketresearchandotherprogramsMorrissaid..NBIAsSoftLandingsdesignationsareeffectivefortwoyearsprogramsmustreapplybienniallyforcontinuingdesignation.Thereisnocaponthenumberofdesignationsavailableinagivenyearorovertime.TheFoodInnovationCenterjoinsjust25otherbusinessincubationprogramsfromaroundtheworldincludingtheEnterpriseDevelopmentCenteranNJBINmember.TheNationalBusinessIncubationAssociationistheworldsleadingorganizationadvancingbusinessincubationandentrepreneursupport.Formoreinfor-mationabouttheNBIASoftLandingsprogramvisitwww.nbia.orgmember_servicessoft_landings.JonathanE.PerelmanCPAPFSMST