Frequently Asked Questions (FAQs)

GENERAL

Q: What is the XSeed Award?

A: The XSeed Award is focused on advancing transformational science to address compelling unmet medical needs and advancing an environment of diversity and inclusion. Each year the award will focus on a particular area of interest.The annual award program, with up to five awards funded, will provide grant money to a diverse population of the most talented researchers and entrepreneurs in New York City. It will help address a critical funding gap, bridging promising translational research to marketplace and commercial success.



PROJECT SUBMISSION

Q: Who is eligible to apply?

A: Entrepreneurs and Principal Investigators whose full-time employer is located within New York City or who have an academic appointment at a NYC-based Institution are eligible to apply.

Q: How can I apply?

A: To submit an application, please visit the Proposal Submission Page to begin.

Q: Can I submit more than one proposal?

A: Applicants are limited to one proposal submission per cycle.

Q: Does the XSeed award have a therapeutic area of interest?

A: Each year the therapeutic area of interest will change. The 2020-2021 application cycle is currently focused on Infectious Disease. The Committee will consider diagnostic technologies, vaccines, and anti-infective therapeutics.

Q: How many application cycles are there in a year?

A: There will be one application cycle per year.



PROJECT SELECTION

Q: How are applications selected?

A: The Committee Members will select five teams that will receive up to $100,000 each. Finalists will have an opportunity to present their startups to a panel of Committee Members.

Q: Who will be reviewing my proposal?

A: The applications will be reviewed by a Committee which includes the following members as of 2021: Claire Pomeroy, MD, President and CEO of the Albert and Mary Lasker Foundation; Nancy Thornberry, CEO at Kallyope, Inc.; James E. Flynn, Managing Partner of Deerfield; Elise Wang, Partner at Deerfield; Joseph Pearlberg, Vice President of Scientific Affairs at Deerfield and one additional member.

Q: What are the contents of the Letter of Intent/Application?

A: The Letter of Intent/Application is located on the submission portal. Applicants can access by creating a profile and beginning the process by visiting – apply.xseedaward.com. The application will ask you to address the following:

In addition, applicants will be required to attach a one-page summary that outlines three key areas listed below:
  1. What is the problem you are hoping to address and the advantages of your approach?
  2. What is the unmet clinical need and disadvantages of current approaches?
  3. The hypothesis and biologic rationale, and why your team is the best to accomplish your research goal.
Finalists selected will be asked to present their project to a panel of Committee members, summarizing all points in their application and highlighting the specific aims of their research. Selected finalists will be notified through email at least one week prior to the presentation date.

Q: What does project acceptance include?

A: In addition to receiving award funding, the winning teams will join a two-year cohort of their fellow awardees. The teams will have access to peer-learning, and office hours with leading investors, entrepreneurs, and business experts. Through the XSeed Award cohort, it is anticipated that these startups will bolster their network and significantly raise their visibility. Graduates of each cohort will in turn serve as mentors and coaches for future cohorts, further strengthening the entrepreneurial community in New York City.