Laboratory Management Course

On October 26 - 28, 2009, Ryan Goldstein, President/CEO, attended a three-day laboratory management course, offered by Smart Consulting Group, LLC.

A successful lab is at the heart of any thriving pharmaceutical or biotech company. But running a successful lab in the 21st century requires a complex skill set. You have to have deep technical understanding and project management expertise. You also have to juggle the many personalities of researchers, regulators, and organizational hierarchy. You must develop a clear and focused vision, be ruthlessly efficient with your resources, and be disciplined in your execution.

Nigel Smart of Smart Consulting Group, LLC

The fascinating topics covered ranged from laboratory organization and communication to bio-terrorism. ChronoWake has benefited greatly from this training course, increasing laboratory efficiency and maintaining compliance with regulatory requirements.

This workshop was also an excellent networking opportunity, connecting ChronoWake with high-level employees of global pharmaceutical and biotechnology corporations, potentially paving the way toward a future partnership or acquisition.

Normally priced at $900, Ryan was able to participate for free, courtesy of grants from the Delaware Valley Innovation Network and the US Department of Labor. We would like to thank these agencies for providing this opportunity at no cost to our company.

A Sacramento, CA native, Joshua is a second-year undergraduate at the University of Pennsylvania. He has experience in both business and the life sciences as a member of the Vagelos Program in Life Sciences and Management. He will conduct sleep research and serve as a liaison between the science-oriented and business-educated members of the team.

Joshua's work at ChronoWake will be subsidized entirely by the University of Pennsylvania's Vagelos Program in Life Sciences and Management, as a part of the LSM Summer Internship portion of his curriculum.

We appreciate the support of the Vagelos Program in paying for Joshua's employment, and we look forward to working with him over the summer and beyond.

ChronoWake will be presenting from 3:20 PM - 3:40 PM. A reception, with food and refreshments, will be held from 3:45 PM - 5:00 PM. The Awards Ceremony will take place from 5:00 PM - 6:00 PM.

Please attend and help support ChronoWake! The team with the best ratings wins the $500 Audience Choice Award, and each audience member who submits a rating is entered in a raffle to win a Nintendo Wii! We hope to see you there.

The Wharton Venture Award is the largest of all of the awards provided by Wharton Entrepreneurial Programs. As with all funding and support received to date, no equity position will be taken, meaning that ChronoWake management still retains 100% ownership of the company.

In the announcement of WVA winners, ChronoWake was featured on the homepage of Wharton Entrepreneurial Programs, pictured below.

Wharton Entrepreneurial Programs Homepage

This site receives over 1,500,000 visitors each month according to TrafficEstimate.com. Being featured on the WEP homepage has significantly increased our already substantial publicity and exposure.

We want to extend our most sincere appreciation to Wharton Entrepreneurial Programs, and especially to the Heller Family Foundation, for providing this seed funding and associated publicity to help support our venture.

Congratulations! You have made the final round for PennVention. Our judges felt that your idea was one of the best submitted. Looking forward, the next round will consist of your team giving a 'pitch' of your idea to judges and a live audience on Friday, April 10th.

We would like to thank the Weiss Tech House and the PennVention Committee and Judges for the distinction of being selected a PennVention finalist. In addition to the prizes, selection as a finalist certainly enhances our reputation and eminence among not only Philadelphia's entrepreneurial community, but also on a national and global scale.

So far, ChronoWake management has not had to concede any equity in the company (the founders are retaining 100% ownership). We are very enthusiastic about, and thankful for, the valuable services and support provided to us without cash or equity in return. We avidly anticipate a mutually beneficial partnership with this firm.

ChronoWake is honored to have been selected as a finalist for this prestigious award. We would like to greatly thank Wharton Entrepreneurial Programs and the Wharton Venture Award Selection Committee for such an exceptional distinction.

*UPDATE* We won the Wharton Venture Award!

View the video at YouTube, or download it directly.

Alumni ventures from this program include Crederity, First Flavor, MicroMRI, BoxMyDorm, Fodius, Humanistic Robotics, TicketLeap, LT Technologies, and more.

Current VIP ventures include Solixia (rang the NASDAQ closing bell), FlyBy, Crave Mobile, YourCampus360, WallStreetOasis.com, and more.

In Phase I, Wharton VIP assists in transitioning from the business overview stage to a fully-developed executive summary or business plan. Through workshops, group advising with an accomplished professional, the use of VIP workspace, and various networking contacts, Wharton VIP helps to hone venture concepts, explore venture viability, and prepare for venture implementation. In Phase II, the ventures are developed further, implementation begins, a post-VIP venture strategy is devised, and seed capital of $2,500 is provided. Acceptance into this exclusive program is a huge step forward for ChronoWake.