Science Venture Studio

Nonprofit & Forprofit | Entrepreneurship and Innovation

Retainer client since May 2020

 

“Our clients feel supported during this pivotal, yet sometimes solitary, time of growth. Due to the company's successes, SVS continues to grow and provide in the trenches support for pre-seed science and technology companies. As we continue to grow, Gray Ink has grown with us.”

Katie Thompson, Director

Science Venture Studio (SVS) is a startup studio and accelerator in Northwest Arkansas focused on finding and supporting scientists and entrepreneurs with innovations in need of testing and commercialization.

Gray Ink started to work with SVS in early 2020, when they were in their initial negotiations to secure funding for a pilot initiative supporting small, innovative companies looking to find grants to accelerate their technology research and development. But they felt unsure how to navigate the negotiations or what to request from the funder. Over the course of a couple months, Gray Ink coached them through their negotiations, eventually securing twice the initial funding they were expecting.

Once the pilot funding was secured, we partnered with SVS to build out a robust support system for companies in Northwest Arkansas pursuing funding.

Client Goals

  • Support the development and submission of high quality innovation proposals to secure and increase funding for technology research and development

  • Diversify and strengthen the funding for SVS’ operations

  • Strengthen the operational and financial systems of SVS

How We Support

  • Identify and qualify funding opportunities for both technology clients and SVS operations

  • Build cultivation strategies and provide coaching to support execution

  • Work with companies to understand, develop, and submit non-dilutive innovation proposals

  • Build program and organizational budgets and coach teams through the process

  • Support the creation and management of financial systems, including tracking, reporting, and cash flow analysis

  • Build internal systems and support operational implementation

  • Provide executive coaching to organizational leadership

Achievements

  • Secure initial $500,000 for pilot launch in 2020. Developed the strategy and supported negotiation to secure an additional $1.8M for operation following the pilot.

  • Supported businesses and scientists to secure $10.9M in non-dilutive innovation funding, winning 50% of proposals submitted.

  • Increased federal funding awards for Northwest Arkansas-based companies by 40% in the first two years.