We are thrilled to announce the official launch of the application portal for the inaugural Timothy P. Walbert Entrepreneurship Impact Award Competition. This prestigious award competition, organized by iBIO, is a tribute to Timothy P. Walbert’s unwavering commitment to patients, community, and business success. The award is designed to annually recognize an outstanding Illinois entrepreneur who has shown remarkable innovation and leadership in the pharmaceutical or medical device/diagnostic industry. 

The award competition is set to be a significant milestone in the entrepreneurial journey of the participating companies. Not only does it provide a platform for the companies to showcase their innovations, but it also brings them under the radar of investors, providers, and senior executives from world-class biosciences companies. These individuals will serve as the judges for the pitch event, providing a unique opportunity for the participants to network and gain valuable insights from industry leaders. 

The winning company will be rewarded with a SAFE award of $50,000 with an opportunity for another $50,000 match. In addition, the winner will also receive additional services and sponsorships, providing a significant boost to their operations and future growth prospects. 

The award finals are scheduled to be hosted at 400 N Aberdeen on June 20, 2024. Up to ten companies will be selected to participate in the finals, where they will be required to provide a 10-minute pitch, followed by a 5-minute Q&A session. This showcase promises to highlight the most innovative companies in sector-based sessions, moderated by leading corporate executives and investors.

Eligibility & Requirements

To ensure a fair and competitive environment, iBIO has set forth specific eligibility criteria for the companies wishing to participate in the Timothy P. Walbert Entrepreneurship Impact Award Competition. 

  1. Participating companies must be operating in the pharmaceutical or medical device/diagnostic industry and must be FDA regulated.
  2. Companies must be located in Illinois, with more than 51% of their employees living in the state.
  3. Lastly, to encourage and provide opportunities for emerging companies, the competition is only open to those who have not yet received venture capital funding.