Case Study
WTCSD, EDC support Nano PharmaSolutions in securing $17K in grants, FTE, and global connectivity
ServiceStrategic Partnerships
ServiceMarketing/Visibility
ServiceTalent Pipeline Development
ServiceExport/Logistics Consulting
AUGUST 2024
Nano PharmaSolutions (NPS) is a woman-owned innovative drug solutions provider that turns insoluble drug molecules into nanoparticles to increase their bioavailability to the human body.
A small San Diego-based business founded in 2019, NPS had proven its technology and was looking to scale both domestically and globally, with a focus on the Korean market. Additionally, the company aimed to facilitate its growth with additional staff.
COMPANY
NANO PHARMASOLUTIONS’ CHALLENGE
NPS had proven its nanotechnology could improve solubility and bioavailability for pharmaceuticals, and was looking to commercialize the technology with manufacturing partners.
To grow domestically and internationally, this life sciences company needed support accessing capital, partnering with pharmaceutical companies for co-development projects, and building relationships in European and Asian markets. As a startup team, NPS had limited staff hours to train technical talent and facilitate international growth.
EDC SOLUTION AND SUPPORT PROVIDED
NPS applied to World Trade Center San Diego (WTCSD)’s export accelerator MetroConnect and, through a competitive application process, was named among 15 growing companies accepted into its sixth cohort in 2022.
As the company planned to go global, NPS leveraged MetroConnect’s resources, including:
- $5,000 MetroConnect grant to fund three international trips (Korea and the Netherlands)
- SYSTRAN translation software for international patent language translation into Chinese and Japanese
- STEP grant consulting to offset foreign patent application fees
The WTCSD team also invited NPS’ co-founder & CEO Kay Olmstead, PhD, to join its 2022 Netherlands trade mission, where she pitched to university and industry partners in Leiden as well as its 2023 South Korea trade mission, where the company connected with a broad array of private sector leaders and investors.
Finally, NPS also had the opportunity to participate in EDC’s Advancing San Diego internship program, which helped the company hire a San Diego State University biology student as a paid intern at no cost.
VALUE DERIVED
Following its initial $5,000 MetroConnect grant, NPS won $12,450 in three STEP grants with the help from WTCSD’s international advisors. The combined funds helped the company join WTCSD’s South Korea trade mission to meet with potential investors and grow its network abroad.
Throughout the MetroConnect program, NPS submitted international patents in eight international regions including China, Japan, Korea, and Europe.
Through the Advancing San Diego program, NPS’ paid intern worked for approximately 230 hours at no cost to the company, and was later hired on as a full-time employee, having provided invaluable support in the lab. To date, EDC’s Advancing San Diego program has placed 474 student interns in local businesses and has paid more than $3 million in total wages and support services.
“Since we were introduced to EDC and WTCSD just a few years ago, Nano PharmaSolutions has made critical connections and secured sizable investments, grants, and partnerships. Even more, we’ve accessed skilled talent and strategic foreign markets to drive job growth back at home. The team’s support, counsel, and camaraderie has been integral to NPS’s growth in San Diego and abroad.”
—Kay Olmstead, founder & CEO, Nano PharmaSolutions
CONNECT WITH NANO PHARMASOLUTIONS
- Website: Nano PharmaSolutions
- Social media: LinkedIn