The mission of AZAdvances™ is to provide entrepreneurial education and support, including grants and mission related investments into Arizona life science companies, that help to advance life changing and life saving products and services along the path from discovery to development to delivery.
Who We Are
AZAdvances is a division of the Opportunity Through Entrepreneurship Foundation (OTEF). An Arizona-based 501c3 public charity, OTEF was established in 2005 and provides entrepreneurial education, mentoring and support to individuals and organizations based in Arizona.
Donations and other funding received for AZAdvances are maintained as separate accounts within OTEF.
AZAdvances is designed so that it can to make an impact today and for generations to come.
Arizona life science innovators are discovering, developing and delivering new products and services that will help to keep us healthy and help our physicians care for us when we need it.
Today, Arizona lacks sufficient funding to support our early-stage life science companies and to keep them growing here in our state. AZAdvances was created to specifically designed to address this need.
Once capitalized, the AZAdvances Today Fund™ will provide support to Arizona-based life science innovators (grants to nonprofits and loans or equity investment to early stage life science companies) while the AZAdvances Legacy Endowment™ will grow the core capital over time so that as the need for future funding grows, so does our capacity to meet it.
Arizona’s Bioscience Roadmap has been the guide for our community as it has grown to become one of the top emerging bioscience states. We have made significant progress in every area except one – access to early stage capital.
The concept of AZAdvances was developed by Arizona leaders specifically to fill this gap in a way that is both strategic and sustainable.
Support for AZAdvances is currently provided by OTEF thanks to community donations and the Arizona Bioindustry Association (AZBio). Beginning is January, 2019, AZBio is supported by a grant from the The Arizona Bioindustry Association (AZBio) today announced that it has been awarded a $299,750 grant from the U.S. Economic Development Administration’s (EDA) 2018 Regional Innovation Strategies (RIS) program competition to support the creation of a sustainable seed fund for life science innovation in Arizona. In addition to the federal contribution to the project, AZBio and its partners will provide matching support in excess of $500,000 over the three-year term of the project. These resources support the seed fund capital campaign, structure and operations as well as programs designed to help Arizona life science companies prepare for the investment process. Neither the federal funds or the matching funds may be used to capitalize the fund itself or for direct investment into individual companies. (View the EDA Grant Award)