Opportunity
Despite operating the only bioscience-specific incubator in Oregon, a Portland-based non-profit was dependent upon funding from the state to sustain its operations. Pepper Foster Consulting was asked to help this non-profit find alternate sources of funding through corporate partnerships, thus reducing their reliance on state funding and diversifying their revenue stream. Pepper Foster was engaged to deliver a list of organizations which the client’s newly hired Associate Director could approach to discuss prospective, mutually beneficial partnerships.
Solution
A Pepper Foster consultant conducted a series of interviews with the non-profit’s Executive Director and the Board’s Diversify Funding subcommittee to understand their expectations and begin to formulate criteria for an ideal corporate partner. The consultant researched best practices to identify what types of partnerships comparable bioscience firms across the country were forging, and how those partnerships had come to fruition. They then helped the client hone in on a list of industry segments and corresponding value propositions that aligned with the client’s vision, and provided insight into the value of corporate sponsorships. After validating this list and initial findings with the Diversify Funding subcommittee, the Pepper Foster consultant proceeded to develop and curate a list of organizations in each industry segment; making recommendations for organizations who would best align with the client’s criteria and prioritizing them accordingly.
Outcome
The final, curated list of prospective partners and a summary of best practices and other recommendations was delivered to the client on-schedule and in alignment with the client’s ask. This list served as the foundation for the client to begin building the non-profit’s corporate partnership program in 2021 and beyond.