Looking for research funding? AusHealth’s business development manager shares six golden rules for making the perfect pitch.
Dr Tina Lavranos manages a multi-million-dollar portfolio of research projects being funded by medical research charity, AusHealth. Tina knows how hard it is to pitch for money — in the 1990s, she was a young post-doc seeking funding from the federal government. Now she’s on the other side of the table, and it’s her job to know the difference between ‘pitch perfect’ and ‘pitch poor’.
Here are her six golden rules to consider before trying to persuade a funding body to part with their cash…
1. Practise your elevator pitch. It works in Hollywood and it works in medical research, too! Get us excited with something short, smart and persuasive. And don’t underestimate the power of curiosity – leave us wanting more.
2. Before your interview, watch a few episodes of Shark Tank. Because the truth is, regardless of whether you’re sitting in front of a government funding body, a charity or a private funding body, they’re not ‘funding you’, they’re investing in you. Not unrelated, a little homework on the institution will go a long way…
3. Know the things we love. We love energy (excitement for the research you’re doing and the space you’re working in). We love clarity (be a champion for your project, not a science-bore). And we love vision – give us a sense of where this thing could go…
4. You’ll need to have your science sorted, but we’re more interested in your value proposition. Yes, your research project is taking us all somewhere new, but how is it different from the rest? If it’s advancement on an existing technology or therapy, how is it better? And at the end of the day, how will it benefit patients?
5. Research for the sake of research? Not so much… If you can see a clear pathway to getting your research from the bench to the bedside, tell us about it! Outline the size of potential markets, point up some IP possibilities and make sure we’re aware of any partnerships or synergies.
6. Be realistic. You’d be amazed how many times I’ve run up against eager young scientists asking for heaven, earth and ten per cent on top. It doesn’t inspire confidence (or make for a good introduction) when applicants come with inflated numbers. Trust us – while we appreciate the value of science, we know the cost of research.
Dr Tina Lavranos is Business Development and Commercialisation Manager for AusHealth. She was a panellist at @MTPConnect (Adelaide Intermediary Program), which took place in April; the session, ‘Preparing for Partnership’, was a workshop to help researchers improve their pitching.
More information: Research – AusHealth