Option: 1

March 26, 2020 – 

Kris Vaddi, Ph.D., is not a native Delawarean, but in many respects, his exceptional career was born here. Vaddi is the founder and CEO of Prelude Therapeutics, an early stage biopharmaceutical company. Previously, he was the vice president of Incyte Corporation. Both are based in Wilmington, Delaware.

Since its launch in 2016, Prelude has outgrown its space two times. That pace is expected to continue. In 2019, the Council on Development Finance approved Prelude for a total of $834,090 in grants. (The company received nearly $500,000 from the state in 2017.)

The recent grants, which come from the Delaware Strategic Fund, are contingent upon Prelude meeting hiring goals by 2022. Currently, there are about 50 employees. “I could easily see adding another 50 people,” Vaddi says.

New hires will include scientists and skilled associates researching the drivers of cancer cell growth and survival, as well as treatment resistance. Prelude has two clinical trials in progress. Sites include the Helen F. Graham Cancer Center in Newark, Delaware, which is part of ChristianaCare, and Thomas Jefferson University Hospital in Philadelphia.

It is easy to see why Prelude Therapeutics was named to the Fierce BioTech’s 2019 “Fierce 15.” “It is a big deal—a badge of honor,” Vaddi says of the recognition. “It attracts investors willing to help a company grow.”

For Vaddi, Prelude Therapeutics is a dream come true. “I always wanted to start a company,” he says. “I wanted to create something that would reflect how I think about the world—but I didn’t want to just jump into it.” Instead, he patiently accumulated experience.

Vaddi—who earned doctorate degrees from Acharya N.G. Ranga Agricultural University in India and the University of Florida—joined DuPont Merck in 1993 as a post-doctorate fellow. He was particularly interested in studying white blood cells, which protect the body against infectious disease and foreign invaders. A proliferation indicates a disorder.

When the fellowship was complete, he moved to a company in Cambridge, Massachusetts. Then a job opened up with DuPont Pharmaceuticals in 1999. “It was a very exciting opportunity to come back to Delaware,” he says. “And I’ve not left.”

In 2001, after Bristol-Myers Squibb acquired DuPont Pharmaceuticals, Vaddi and his colleagues began seeking other prospects. Enter Incyte, a genomics company based in Palo Alto, California.

Incyte, already a public company, had the capital and a pressing need to change direction. Pharmaceutical companies were no longer interested in paying top dollar for genomic databases. Incyte needed a fresh infusion of ideas, and the former DuPont employees had them.

“It was an opportunity to reinvent Incyte, and we said we would do it, if we could do it in Delaware,” Vaddi recalls. “We were a very, very small team—just a handful of people.”

The reinvention resulted in Jakafi, the first federally approved medication for two bone marrow disorders: myelofibrosis and polycythemia vera.

By 2014, Vaddi had gone part time to explore interests that he’d “put on the back burner,” including not-for-profit initiatives. “I still consider Incyte my baby,” he says. “Many of my good friends still work there.”

In early 2016, however, investors felt the time was right for Vaddi to start his own company. At the same time, there was available lab space on the University of Delaware STAR Campus. “The stars aligned,” says Vaddi, who opened Prelude with $5 million in seed funding. In 2017, the company moved to the Delaware Innovation Space, which was previously the DuPont Experimental Station.

Vaddi was back in the Delaware labs where he’d started.

The experimental station was designed to hold labs, not corporate offices. To accommodate Prelude’s growth, the company rented 5,000 square feet of space a few miles away. The year 2020 is a pivotal one for the company, which will need to expand again. Ideally, any new offices would be in the Wilmington, Delaware, area.

“I’ve developed good relationships with many people in Delaware,” Vaddi says. “I work very closely with the University of Delaware—I mentor students there.”

He also values the quality of life.

Indeed, the state has been “amazing in every respect,” he continues. “I love the proximity to Philadelphia and the ease with which I can travel to New York, where my investors are.”

Delaware is surrounded by universities with hirable talent, biotech companies and the contract research organizations that support early stage companies, he says. The Delaware Innovation Space is a nurturing incubator that gives small companies a sense of community, as well as cutting-edge equipment.

If you need further proof that Delaware is a hospitable place for business, look at the success of Incyte. Prelude seems on track to follow in that company’s success. And, no doubt, that is because Vaddi is at the helm.

Stay Up To Date With Delaware

COVID-19 is rapidly reshaping the business landscape throughout Delaware, the nation and the world. Conditions are changing on a day-to-day, hour-by-hour basis, and Delaware’s government, healthcare, business and nonprofit sectors are working around the clock to help contain COVID-19 and support Delawareans.

Throughout the pandemic, Delaware Prosperity Partnership remains open for business. Virtual meetings are being scheduled both to maintain momentum on future development and to assist with response and the eagerly awaited recovery in the aftermath of COVID-19.

Here are resources to assist you as we move forward.

Governor Carney Lifts COVID-19 State of Emergency — Governor John Carney on Tuesday signed an order that lifts the COVID-19 State of Emergency effective at 6:00 p.m. on Tuesday, March 1. Click here to learn more.

Governor Carney on Thursday announced a new State of Emergency Declaration and Public Health Emergency –  In order to combat the winter surge of COVID-19 cases and hospitalizations, the State of Emergency will take effect January 3, 2022. Visit this link to learn more. Click here for Governor Carney’s Public Health Emergency extension.

Governor Carney, Lt. Governor Hall-Long Announce Community Investment Recovery Fund for Delaware Nonprofits
Recovery Fund will provide funding for one-time capital projects in communities hard hit by COVID-19; Application for funding now available. Click here to learn more.

Governor Carney, Lt. Governor Hall-Long Announce $50M American Rescue Plan (ARPA) Investment in Jobs Training. Investments will expand Forward Delaware, and fund Pathways 2.0, which will expand the Pathways program to reach more than 6,000 Delaware middle school students and 80 percent of Delaware high school students. Click here to learn more.

Governor Carney Announces Vaccine or Testing Requirement for Educators. Governor John Carney, the Delaware Division of Public Health (DPH), and the Delaware Department of Education (DOE) announced on Tuesday that educators, school staff, contractors, and volunteers who work in K-12 public and private schools must get vaccinated for COVID-19 or undergo weekly testing. Click here to learn more.

Division of Small Business Announces Market Pressure Relief Fund Available for State Contractors. The  Market Pressure Relief Fund is designed to assist state contractors facing increased costs for construction materials due to the pandemic. Beginning Monday, July 19, contractors can download the application for the Market Pressure Relief Fund on the Division of Small Business’ website at www.delbiz.com. The deadline to apply for funding is September 30, 2021. Additional information and eligibility requirements for the relief fund can be found at www.delbiz.com.

Governor Carney and Dr. Rattay on Delaware Reaching 70 Percent Vaccination Goal. Governor John Carney and Dr. Karyl Rattay, Director of the Delaware Division of Public Health (DPH), released the following statements on Delaware reaching 70 percent of adults with at least one shot of the COVID-19 vaccine. Click here to read the full announcement.

Governor Carney, DPH, DEMA Announce Community COVID-19 Testing Sites. The list of community testing sites includes pop-up and Curative trailer sites, as well as community sites hosted by New Castle County and Henrietta Johnson Medical Center. Click here to read the full announcement.

Governor Carney Signs 29th Modification, Eliminates Distancing and Mask Mandate. Effective May 21st, Delaware modifies social distancing requirements and removes Delaware’s mask mandate. Delawareans, visitors, and Delaware businesses should follow social distancing and masking guidance for fully vaccinated individuals. Click here to read the full announcement.

Governor Carney, DPH Announce  Major Changes to COVID-19 Restrictions. Effective May 21, most capacity restrictions lifted; Delawareans should follow CDC mask guidance outdoors; larger events still require plan approval from DPH. Click here to read the announcement.

Governor Carney Announces  COVID-19 Vaccination Program Fully Open. Medical providers, hospital systems may vaccinate Delawareans 16+ without high-risk medical conditions. To view details of the Delaware COVID-19 vaccination program visit   de.gov/covidvaccine.

Delaware Governor John Carney Announces Pop-Up Testing Locations for COVID-19 Vaccinations. DEMA has coordinated community sites this week in addition to sites at Walgreens and at various hospitals and health care locations. Delawareans can view a full list of COVID-19 testing locations at de.gov/gettested.   

Delaware Governor John Carney COVID-19 Vaccination Program Open to Delawareans 16+ with Delaware having administered 502,927 doses of COVID-19 vaccine as of Monday, April 5, 2021.  Click here to view details.

Governor Carney, DPH, DEMA announce Community COVID-19 Testing Sites listing community testing sites throughout Delaware next week. Testing locations include pop-up and Curative trailer sites, as well as community sites hosted by New Castle County and Henrietta Johnson Medical Center. Click here to view details.

Governor Carney and DSHA Announce Reopening of COVID-19 Rental Assistance Program with $200 million in financial assistance available to Delawareans struggling to pay rent due to COVID-19 crisis. Click here to learn more.

Governor Carney and the Delaware Division on Public Health (DPH) announced an expansion of Delaware’s COVID-19 vaccination program to Delawareans 50+ or 16+ with high- and moderate-risk medical conditions. Click here to learn more. 

Governor Carney Announces COVID-19 Emergency Declaration update on Occupancy Limits Increase in restaurants, retail; tournaments can resume with a plan. Click here to view details.

DE Relief Grants Application Portal to Reopen on Jan. 19 – Repayment forgiveness program announced for grantees that did not experience reduced revenue in 2020. Click here to view details.

Governor Carney Announces Additional Relief Funding for Small Businesses, Arts Organization (December 21, 2020). Click here to view details.

Governor Carney and DPH announce Delaware Begins COVID-19 Vaccinations in Long-Term Care Facilities (December 16, 2020). Click here to view details.

Governor John Carney Issues an Omnibus Modification to the State of Emergency Declaration combining all active COVID-19 restrictions into a single order. Click here to view the order. 

Governor John Carney Announces Stay-at-Home Advisory, Universal Indoor Mask Order. Click here to read the message from Governor Carney on COVID-19.

Governor John Carney, the Delaware Division of Public Health (DPH), and the Delaware Emergency Management Agency (DEMA) announced the list of community testing sites throughout Delaware this week. For a full calendar of testing sites in Delaware go to: https://de.gov/gettested

Forward Delaware, a new statewide rapid retraining program created in the wake of the COVID-19 pandemic, will prepare workers for new careers or new skills in IT, healthcare, transportation, logistics and construction via short-term certification studies. Learn more here.  

Round 2 of DE State Relief Grant funding of up to $100,000 is open to applications from Delaware small businesses and nonprofits affected by COVID-19. Details are at https://business.delaware.gov/relief/.

The Pandemic Resurgence Advisory Committee Report, which will inform the effort to plan for a potentially dangerous resurgence of COVID-19, has been delivered to Governor John Carney by PRAC co-chairs Lieutenant Governor Bethany Hall-Long and Secretary of State Jeff Bullock. Read the report at https://governor.delaware.gov/wp-content/uploads/sites/24/2020/09/Pandemic-Resurgence-Advisory-Committee-Final-Report_-09302020.pdf.

State of Delaware Announces School Testing Locations – Governor John Carney on Friday, October 2, 2020, announced pop-up school testing locations as many schools prepare to return to school for in-person learning as part of their hybrid return-to-school plan.

• View calendar of pop-up testing locations for students and families.
• View calendar of current pop-up, permanent and other available testing locations.

CORRECTION: The DE Relief Grants HelpLine phone number is 302-672-6816.  The portal opens at 10 AM on October 1, 2020, for the second round of DE Relief Grants applications. 

ChristianaCare service gives employers workplace confidence with its CareVio program. Learn more here: https://delawarebusinesstimes.com/news/christianacare-carevio/

State of Delaware Launches COVID Alert DE Mobile App: Free app uses Google/Apple platform and protects user privacy

Governor John Carney, the Delaware Division of Public Health (DPH), and the Delaware Emergency Management Agency (DEMA) on Friday announced updates to the State of Delaware’s testing strategy, expanding access to free COVID-19 statewide and providing consistent options for Delawareans to get tested. 

The State of Delaware will shift COVID-19 testing from mobile to fixed sites beginning Monday, September 14, 2020.  The transition to more permanent, fixed testing sites will expand testing opportunities and provide more testing locations across the state. 

Testing sites will be located in several areas throughout Delaware, and include eight (8) drive-through Walgreens locations (five of them newly added), five (5) State Service Center sites; and six (6) Public Health clinics. Testing services will be offered five to seven days per week, depending on the location.  

View the new fixed testing site locations by county.

Find COVID-19 testing sites statewide.

Small businesses and nonprofits planning to apply for DE Relief Grants are invited to attend county-specific information webinars on the program hosted by the Delaware Division of Small Business on August 26. Click here for the Zoom links.

Delaware Small Business Relief Grant Program, a joint initiative of the State of Delaware and New Castle County funded by the Coronavirus Aid, Relief and Economic Security (CARES) Act, will provide least $100 million to more than 3,000 Delaware small businesses and nonprofit organizations affected by the COVID-19 crisis. Grants will range from $30,000 to $100,000 and be administered by the Division of Small Business, which will begin accepting applications in early September. 

Governor John Carney announces the reopening of the Delaware Housing Assistance Program, which provides financial help to renters affected by COVID-19, and an emergency mortgage assistance program for homeowners who have missed payments due to the pandemic.  Click here to view Governor Carney’s Announcement on COVID-19 Housing Assistance Programs 

To view details on the Delaware Housing Assistance Program (DE HAP) visit this link:  Delaware State Housing Authority (DSHA)

Governor John Carney Creates Workforce Development Program for Unemployed and Underemployed Delawareans  – Click here to read Governor Carney’s Executive Order #43.

Governor Makes 24th Modification to COVID-19 State of Emergency Declaration

Delaware Department of Labor Issues Guidelines for Employers and Employees Regarding Returning to Work announcement

Return to Work Guidelines During COVID-19 document

UPDATED – COVID-19 Testing Events in Delaware

Delaware Phase 2 Guidelines 

Delaware Division of Tourism Business Marketing Academy (Code: DiscoverDE)

Delaware Division of Small Business printable signs for reopening

Delaware Division of Small Business Customer Protection Standards

Creating a Comeback Plan for Your Restaurant: Preparing for a Strong Opening

Delaware’s Reopening PHASE 1 Guidelines

ChristianaCare’s COVID-19 Employee Symptom Monitoring and Virtual Care Program

Steps the self-employed and independent contractors should take to register for Pandemic Unemployment Assistance benefits in Delaware

State of Delaware Official Coronavirus Website

The State of Delaware Resources for Business page may be accessed here.

Information about and an application for the Delaware Hospitality Emergency Loan Program (HELP) are here.

Delaware has been approved for U.S. Small Business Administration Economic Injury Disaster Loans. A fact sheet is here, and application details are here.

The Delaware Division of Small Business chart “Which loan program is right for my business?” is here.

Details about the Main Street Lending Program of the Federal Reserve, which will enhance support for small and mid-sized businesses by offering four-year loans to companies employing up to 10,000 workers or with revenues of less than $2.5 billion, are here.

The State of Delaware Essential and Non-Essential Businesses Spreadsheet is here.

The Delaware Division of Health and Social Services Division of Public Health “Coronavirus Business Briefing” is here.

Access the Delaware Division of Small Business website’s COVID-19 page here.

FINANTA, a Philadelphia-based nonprofit that serves all three counties in Delaware, is offering emergency loans of $5,000 to $15,000. Access FINANTA’s website here.

The Delaware Division of Unemployment Insurance‘s COVID-19 FAQs are available here.

Delaware Joblink, a service of the Delaware Department of Labor, is offering a special COVID-19 job-search portal here.

Details about the Delaware State Housing Authority‘s Renter Assistance Program are here and its Housing Assistance Program are here.

Information about the steps Delmarva Power is taking to support customers are here.

The Delaware Restaurant Association has formed the Restaurant Industry Emergency Action Trust to provide immediate funding to hospitality workers displaced by statewide shutdowns. Donate or apply for help here. 

Read about the list of products and services needed from suppliers to aid in combating the COVID-19 outbreak that is being developed by World Trade Center Delaware here.

The Delaware Manufacturing Extension Partnership‘s “Solutions for Manufacturing Companies, Healthcare & Service Providers and Government” page may be accessed here.

The Medical Society of Delaware brief “Delaware Unemployment Guidance During COVID-19” may be accessed here.

United Way of Delaware and Delaware Health and Human Services sponsors Delaware 2-1-1, a free, confidential referral and information site that connects people to essential financial, domestic, health and disaster-related resources. Access the website here and a brief on specific COVID-19 food, utilities and health assistance here.

The Delaware Division of Small Business has prepared a map showing businesses in New Castle, Kent and Sussex counties that the public can patronize during the statewide COVID-19 stay-home order. To add your business to the map, email the business name and physical address to the Division.

Anchor Security Team is offering free phishing training throughout the COVID-19 outbreak to help protect the community, businesses and individuals from the skyrocketing number of phishing attacks that have occurred since the pandemic started.

A list of the eight free outside Wi-Fi hotspots being made available to those without in-home internet access by New Castle County, Verizon and Assurance Media is available here.

A list of the five free outside Wi-Fi hotspots being made available to those without in-home internet access in Wilmington thanks to WhyFly and the City of Wilmington is available here.

Tech Impact is offering free remote work training webinars on topics such as nonprofit communications, tech committees, donor management software and online survey tools and techniques. Details are here.

A list of Delaware Department of Education student nutrition sites is available here.

Philanthropy Delaware‘s page of links to funding programs and other resources for nonprofit organizations and creative and performing arts individuals and organizations is here.

The Women’s Leadership Initiative of the University of Delaware‘s Alfred Lerner College of Business and Economics is offering the free webinar series “Leadership in Times of Crisis.” Details and registration are here.

Third Extension – Declaration of a State of Emergency – Delaware.gov, June 6,2020

Businesses begin slow process of reopening – DelawareLive, June 4, 2020

Phase I: Most Delaware business can reopen with restrictions – 6ABC, June 1, 2020

Ready to roll: Delaware businesses begin Phase 1 opening – Delaware State News, May 31, 2020

New business will clean and sanitize your outdoor trash cans – WDEL, May 31, 2020

Phase 1: Retail gets green light with some restrictions, but not everyone will be opening at once – News Journal / DelawareOnline, May 29, 2020

As Delaware reopens, here’s what’s open and the rules – News Journal / DelawareOnline, May 28, 2020

Newark based biopharma institute gets $8.9 million coronavirus grant – Delaware Business Now, May 28, 2020

AstraZenaca receives $1B to advance COVID-19 vaccine – Delaware Business Times, May 27, 2020

NIIMBL gets $1M to lead expansion of COVID-19 testing, diagnostics – Delaware Business Times, May 26, 2020

Coronavirus update: Delaware hotels can reopen, outdoor gatherings up to 250 permitted – WHYY, May 26, 2020

Coronavirus update: Carney ready to reopen Delaware’s economy gradually – WHYY, May 25, 2020

Applications now being taken for coronavirus contact tracing positions, Delaware Business Now, May 24, 2020

Wilmington teams up with local nonprofits to give free reusable face masks Saturday – News Journal / DelawareOnline, May 23, 2020

State launches COVID-19 education for beachgoers, Delaware Business Now, May 22, 2020

Boy Scouts partner with Highmark Blue Cross Blue Shield on coronavirus victory gardens – Coastal Point, May 21, 2020

$67 million federal laboratory grant aims to improve Delaware’s coronavirus response – Delaware Business Now, May 21, 2020

Bayhealth begins return to pre-COVID-19 operations – Milford Live, May 21, 2020

Delaware loosens coronavirus restrictions on retailers – NBC10, May 20, 2020

How coronavirus is hitting Delaware’s farmers – News Journal / DelawareOnline, May 20, 2020

Wilmington mayor optimistic city can survive economic impact of coronavirus crisis – Delaware Public Media, May 19, 2020

Retailers in Delaware can open by appointment, in addition to curbside pickup, starting Wednesday – News Journal / DelawareOnline, May 19, 2020

Coronavirus update: Delaware issues Phase 1 reopening guidelines – WHYY, May 15, 2020

Dine in restaurant openings coming sooner rather than later – Delaware Business Now, May 13, 2020

Back to Basics offers free educational resources – Delaware Business Now, May 13, 2020

Gene-editing tech CRISPR could be used to test for coronavirus and find who is most at-risk – Delaware Public Media, May 13, 2020

University of Delaware’s ‘new normal’ to look a lot different – WDEL, May 12, 2020

Coronavirus Delaware: Rehoboth Beach to reopen beach, boardwalk with limitations Friday – CBS3, May 12, 2020

Delaware to reopen farmers markets with new safety measures – The Newark Post, May 12, 2020

200 to be hired for Delaware coronavirus contact tracing program – Delaware Business Now, May 11, 2020

Delaware farmers markets to open under new COVID-19 protocols – News.Delaware.gov, May 11, 2020

Delaware takes first steps toward reopening – Cape Gazette, May 8, 2020

Super-sanitized Delaware hair salon serves grateful customers – WHYY, May 8, 2020

Fully reopening dental offices is like pulling teeth – Delaware Business Times, May 8, 2020

Delaware Prosperity Partnership president optimistic about first step toward reopening – Delaware Public Media, May 7, 2020

Self-employed, independent contractors can file for unemployment this week – News Journal / DelawareOnline, May 7, 2020

Clock ticking for many businesses facing steep sales declines – Delaware Business Now, May 7, 2020

City of Wilmington to distribute masks to some residents – Delaware Public Media, May 6, 2020 

KeepUsOpen.com uses crowdfunding to help small businesses, with a twist – Technical.ly, May 4, 2020

Labware rolling out test kit to address nationwide data collection gaps – Delaware Business Times, May 4, 2020

ACME Foundation donates $10K to Salvation Army COVID-19 relief efforts – The Dover Post, May 1, 2020 

Building it better together: Finding a job in Delaware – 6ABC, April 30, 2020

Dept. of Insurance helps Delawareans connect with COVID-19 auto breaks – Delaware Public Media, April 29, 2020

Amish families donate 3,000 hand-sewn masks to Nemours Hospital for Children – News Journal / DelawareOnline.com, April 28, 2020

Delaware business owners face uncertainty about reopening – Associated Press, April 28, 2020

ILC Dover adding up to 50 people to meet soaring demand for respirator – Delaware Business Times, April 23, 2020

WhyFly is helping Wilmington provide free Wi-Fi hotspots for students – Technical.ly, April 22, 2020

Incyte approved to test Jafaki as COVID-19 treatment – Delaware Public Media, April 20, 2020

State’s H.E.L.P. loan program raises annual sales ceiling for restaurants to $15 million – Delaware Business Now, April 16, 2020

Meet Delaware’s voice for businesses in the Eastern governors COVID-19 task force – Technical.ly, April 14, 2020

There’s $9M in funds available for Downtown Development District projects – Technical.ly, April 14, 2020

State announces plans for additional alternate care site – Coastal Point, April 14, 2020

How NASCAR tracks are helping during COVID-19 pandemic – Yahoo! News, April 14, 2020

Delaware to work with regional states on how to reopen in midst of coronavirus pandemic – News Journal / delawareonline.com, April 14, 2020

Bayhealth on front lines of COVID-19 crisis – Milford Live, April 13, 2020

‘The house is still on fire’: Delaware joining regional task force to address reopening states post COVID-19 – WDEL, April 13, 2020

Delaware to work with group of Northeast states to plan reopening economy – Delaware Public Media, April 13, 2020

Businesses considering a move to Delaware can still look — virtually – Technical.ly, April 13, 2020

Commentary: Energy grants can empower Delaware communities – Delaware State News, April 13, 2020

Governor Carney and five governors announce multi-state council to get people back to work and restore the economy – news.delaware.gov, April 13, 2020

Grants awarded from two community COVID-19 funds – Delaware Business Times, April 12, 2020

Wesley offers Easter food baskets to Bayhealth employees – Delaware State News, April 12, 2020

Stepping up in the COVID-19 war: CyberStreets, WSFS, Bloom Energy, Columbus Inn/Charcoal Pit – Delaware Business Now, April 12, 2020

Coronavirus Delaware: Disaster recovery company expands business operations to cleaning vehicles to fight COVID-19 – CBS 3 Philly, April 11, 2020

Business survey provides snapshot of layoffs, closures as COVID-19 shutdown bites harder – WDDE Delaware Public Media, April 10, 2020

Opinion: Craft-Brewed Hand Sanitizer – New York Times, April 8, 2020

Millions of dollars flow to Delaware medical research amid coronavirus pandemic – News Journal, April 4, 2020

Highmark Delaware commits $200,000 to Delaware COVID-19 initiative – Delaware State Chamber of Commerce, April 3, 2020

Chesapeake Utilities Corporation donating $200,000 to support communities during coronavirus response – Nasdaq.com, April 2, 2020

Demand will be higher than anticipated for biopharmaceutical manufacturing talent – NIMBL.Force.com, March 31, 2020

DRBA donates 4,000 N95 respirator masks and 2,000 pair nitrile disposable gloves in Delaware and New Jersey – dscc.com, March 30, 2020

How I Work (from Home): Investment portfolio manager and futurist Jim Lee, Technical.ly, March 30, 2020

Supporting Delaware’s Small Businesses through COVID-19 – First State Insights podcast, March 28, 2020

FMC donates 165,000 masks to Philadelphia-area hospitals – Philadelphia Business Journal, March 27, 2020

Brandywine High students using 3D printers to help meet need for mask in coronavirus fight, The News Journal, March 27, 2020

DuPont expediting production of hazmat suits for health care workers – nbcnews.com, March 26, 2020

Gov. Carney announces request for assistance from vendors: State requests private-sector assistance to supply products and services to assist with COVID-19 response – news.delaware.gov, March 25, 2020

Keep calm … and small business on – Delaware Business Times, March 24, 2020

The critical time is this week: Why we must follow Carney’s order to stay home (Opinion) – The News Journal, March 23, 2020

Sharing critical supplies: UD donates gloves, masks and other personal protective equipment – UDaily.com, March 23, 2020

Can’t find hand sanitizer? Delaware distilleries might be here to help – Delaware Today, March 20, 2020

Del. farmers see growth amid pandemic – Delaware Business Times, March 19, 2020

Small business owners: Keep an eye out for possible coronavirus loan scams – business.delaware.gov, March 19, 2020

Del. Department of Labor adjusts unemployment rules for hospitality workers amid coronavirus outbreak – business.delaware.gov, March 18, 2020

How to set up online gift cards for your small business – business.delaware.gov, March 17, 2020

Google My Business tips to keep customers informed – visitdelaware.com, March 2020

INFORMATION

U.S. Small Business Administration Economic Injury Disaster Loans

U.S. Small Business Administration Paycheck Protection Program

U.S. Senate Committee on Small Business & Entrepreneurship Guide to the CARES Act

U.S. Department of Agriculture Measures to Help Rural Residents, Businesses and Communities Affected by COVID-19

FDIC Coronavirus (COVID-19) Resources for Bankers and Customers

America’s SBDC COVID-19 Small Business Resources

U.S. Chamber of Commerce Resources to Help Your Small Business Survive the Coronavirus

U.S. Department of Labor Families First Coronavirus Response Act: Employer Paid Leave Requirements

International Economic Development Council COVID-19 Stimulus Bill Summary

Restaurant Opportunities Center United Relief

Restaurant Workers’ Community Foundation COVID-19 Crisis Relief Fund

DoorDash COVID-19 Financial Assistance Program

United States Bartenders Guild Bartender Emergency Assistance Program

U.S. Centers for Disease Control and Prevention Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19)

CDC Foundation Emergency Relief Fund

U.S. Department of Transportation National Emergency Declaration for Commercial Vehicles Delivering Relief in Response to the Coronavirus Outbreak

Federal Motor Carrier Safety Administration CDL Waiver

American Trucking Associations COVID-19 Update Hub

U.S. Food and Drug Administration Food Safety and the Coronavirus Disease 2019 (COVID-19) Page

U.S. Department of the Treasury Coronavirus Page

World Health Organization

National Science Foundation

SSTI (State Science and Technology Institute) Resources for Small Businesses Dealing with COVID-19

Understanding the Paycheck Protection Program

RESOURCES

The Lonely Entrepreneur’s free survival guide for volatile economic times

These 5 tech companies are providing free remote working tools during the coronavirus outbreak

Facebook announces $100 million program for smalls businesses impacted by coronavirus (Sign up for updates until the application period opens at Facebook Small Business Grants Program)

JPMorgan Chase makes $50 million philanthropic investment to help address immediate and long-term impacts of COVID-19 (including $8 million to assist small businesses)

Help wanted: Grocery stores, pizza chains and Amazon are hiring

ADVICE

Video: “How to Network Virtually When You Can’t in Person” with Brooke Miles of Delaware ShoutOut

The best ways to professionally network while socially distancing during coronavirus

How to survive working from home — when the kids are home, too

Try these tips to keep your cool at home

Top tech tools to keep your team connected during coronavirus

Stay Up To Date With Delaware

Option: 1

March 2020 

Delaware’s Division of Small Business has a special one-stop resource for small businesses dealing with COVID-19.  If you are a small business and want the latest, click here.

Read about Gov. John Carney’s Hospitality Emergency Loan Program initiative here.

The United States Small Business Administration’s “Small Business Guidance and Loan Resources” page is here.

Stay Up To Date With Delaware

March 2020 

Prosperity & Purpose: Year in Review 2019 is DPP’s first annual report. For a snapshot of the DPP team’s accomplishments, please click on the image to view a flipbook. Comments or questions? We want to hear from you — please email scoulby@choosedelaware.com.

To download a PDF copy of the Report, please click this link: Prosperity & Purpose: Year in Review 2019 (PDF).

Stay Up To Date With Delaware

Option: 1

March 5, 2020 –

With a legacy of innovation that dates back to the early 19th century, Delaware is a microcosm of global trends in the chemical industry, said Kurt Foreman, president and CEO of the Delaware Prosperity Partnership (DPP), which leads the state’s economic development efforts.

Delaware is home to some of the world’s largest and most respected chemical, biochemical, advanced materials and agriscience companies. As a result, it was an ideal setting for ChemTech Conference 2020, a two-day event on the Wilmington Riverfront. “We are positioned to be a leader in chemtech going forward,” Foreman told the attendees.

Organized by the Delaware Sustainable Chemistry Alliance (DESCA) and sponsored in part by DPP, the conference attracted heavy hitters such as DuPont, Agilent and Siemens. However, the 130 registrants came from all over the United States.

Dr. Bryan Tracy, CEO of White Dog Labs and chairman of the DESCA board, set the tone in his opening remarks. “The chemical industry is no longer about making more plants,” he said. “It’s about selling more products in a precise fashion.” Companies are looking to work faster and reduce the cost of innovation while influencing customer habits and better connecting with them through social media. And, of course, they are concerned about cybersecurity.

Artificial intelligence, the Internet of Things (IoT), advanced analytics, machine learning and blockchain are transforming the way companies do business. They are critical to the future of the chemical and bioscience industries, the conference speakers agreed.

From Baby Steps to Giant Leaps

The chemical industry prioritized digitalization long after many industries, said keynote speaker Dr. Frank Jenner, global chemical industry leader for EY (Ernst & Young). That’s changed, according to the survey “DigiChem SurvEY 2019.”

The study, which involved interviews with 101 top management members and executives of medium- and large-sized businesses, found that many respondents are now focused on increasing efficiencies in the supply chain, reducing costs and improving customer interfaces. Consequently, about half have realized faster lead times, improved market and customer access, and overall cost reductions.

Nearly 50 percent of the cohort felt digitalization could improve data analysis the most, followed by automation and the improvement and integration of data management.

However, there is a considerable discrepancy between the expected digital revolution and the actual progress of implementation. “There is still a huge potential to improve beyond what many have done thus far in process automation,” Jenner said.

To succeed, companies must get leadership’s support — including the CEO — to create stable and secure digital solutions and digitalize across corporate functions. Not surprisingly, barriers include a lack of qualified staff, the technical infrastructure and security concerns.

Collaboration and Co-innovation

Jenner stressed the need for collaboration, and Anthony DiPrinzio agreed. DiPrinzio is the digital innovation manager and head of the blockchain lab for BASF, a Germany-based chemical company.

Collaboration isn’t confined to employees. Open innovation means that multiple partners — such as government entities, suppliers and customers — can provide input to develop new products.

Blockchain technology can facilitate the process. The underlying technology behind the cryptocurrency Bitcoin, blockchain is a distributed — versus a central — database. Blockchains can facilitate data transfers between suppliers or even competitors.

“The really important thing is that blockchain is not controlled by any central agency,”DiPrinzio noted. “It’s a method of storing data among multiple parties that ensures data integrity. Data that is committed to the blockchain can’t be changed.”

Each year, BASF runs an idea-thon that uses a blockchain system with videos and interactive modules to help users flesh out ideas and validate them. Some of the program committee members who review the submissions come from outside BASF.

“By engaging in open innovation, not only will you get expertise from external collaborators, but you can also find other markets,” DiPrinzio said.

Attendees at the conference included companies that facilitate the digital transformation process. Anne Froble, sales director in the Microsoft Northeast Region, discussed how change often comes from customer demand or dissatisfaction.

Carlsberg Beer upped its need to deliver new flavors by digitizing the input of employees outside R&D. The company also put IoT sensors on lab equipment to create flavor-profile models that reflect the trends. Carlsberg used bots — software applications that run automated tasks over the internet — to enhance collaboration.

IoT sensors on espresso machines helped Starbucks track the maintenance issues that disrupted service. With trends in hand, Starbucks could schedule preventative maintenance.

Microsoft technology also lets companies create “digital twins.” When Unilever wanted to improve consistency and quality, for instance, it made a digital replica of a manufacturing facility. Simulating a change produced virtual results. The technology can also help with disaster planning.

What about a human? Forbes showed a video of the vice president of marketing for Azure, Microsoft’s cloud computing service, whose digital twin delivered a keynote address in perfect Japanese — although the vice president does not speak it.

The ChemTech Conference also featured workshops, roundtable discussions and networking. No matter the event, conversations often turned to the need for talent, cybersecurity, blockchain and collaboration.

“It crossed industry, regardless of whether you were in ag, bioscience or advanced manufacturing,” said Dora Cheatham, executive director of DESCA. “The challenges are similar. We were excited about the level of the people who attended. They are digital transformation leaders.”

Based on feedback, DESCA plans to conduct another ChemTech Conference 2021 next year.

For more information on DESCA, visit desustainablechem.org.

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FEBRUARY 25, 2020 | BY ERICA NEMSER

There may be no better place on Earth to start a chemtech company than Delaware. Delaware has great raw materials – from talent to legacy and new infrastructure – but this doesn’t mean that these raw materials can be easily synthesized into the next generation of great businesses. It takes more.

Meanwhile, Delaware seems to be hotbed of science-based companies starting up right now, and I get asked a lot of questions about building companies in chemtech. In the hope of accelerating the development of more successful upstarts, I want to take an opportunity to share some perspectives that might not be obvious to the great scientists that populate the state.

So, what does it take to build a great science-based company? Some ideas to factor into your thinking:

1. Great science.
   No surprise here. Most scientists and engineers would agree. Everyone in Delaware believes this (at least most of them do).

Now I am going to go a little rogue on the science-driven idea and science-driven company. And maybe even say something heretical for the scientists in Delaware

Message 1:  If you just have great science, you don’t have anything yet. You will need to turn your science into:

• A great technology and a great product (e.g., easy to use, 5x better than any alternative, serves an unmet need)

The skills to manage this process are very different from those of being a great, brilliant scientist or engineer.  These are process managers, designers, people leaders and agile translators of customer needs and desires into development programs. They are visionary, practical and ruthless prioritizers focused on the end game

For commercial success, you will need:

• Market penetration: A big market, strong value proposition, early adopters, defensible position.

Once again, a different group entirely. These are folks that are close to the customer, skilled at business development, capable of market sizing and adept at the finance of taking risks and placing bets to build market adoption. Like scientists, they have the skills of experimentation, but deployed in an entirely different way. 

Message 2:  Having a specialized, diversified team (not similar people with different titles) is a team mix that can drive to a successful outcome. Finding these people early and building the team from the ground up strengthens the learning and institutional knowledge as the company grows. Yes, everyone will need to be a Swiss Army knife to some degree – pulling on different skills for a variety of different tasks – and each person will wear many hats when the team is small. But a breadth of expertise and experience will help the company to see around corners and accomplish more faster with fewer missteps

What I have seen is that a team of all scientist and engineers is not effective (even if some have titles like CEO) because it is focused on narrow set of technical challenges – and not a complete set. Such a team is unlikely to be successful because it lacks a breadth and depth of experience in critical areas. It will be slow as everyone has to learn, it will be painful as the team and company make mistakes and moves in fits and starts, and, in five years, a science-driven team is likely to still be in the lab pivoting on ideas, because it lacks key commercial inputs.

Message 3:  It’s not a linear process. You can’t do the science, then the technology, product, market, partners, customers in that order. It’s a parallel kickoff, then circular process of learning and iteration. Customer insight from the start guides the priorities in the lab. Remember that you are building a product for a customer in the market – not for people like you. Similarly, the company needs market insight, long-term partners (at least to be on their radar) and manufacturing insights from the get-go in order to build your product and value proposition. Then you iterate on all of them.

So, my parting thoughts – my message to the founder scientist:

Message 4:  Go get the rest of your specialized team RIGHT NOW. Don’t let the tyranny of whatever urgent task you have get in the way of the important task of building your team. And remember: the people you are looking for won’t be like you (and, no, a scientist who took a finance class doesn’t count). That is the idea: they will know different things, come from different industries and think differently. They will fill in your gaps. They will make you a better scientist – believe it or not. Their insights will shape your thinking and your work for the better. And you will have a better product and a better company.

Message 5:  (OK, it’s a bonus message) Scientists: Think hard before you decide to be the CEO of your company. It is a rare person with the skill and passion to make the transition from expert, best-in-class scientist to expert, best-in-class CEO. (If you are now listing names, it’s validating how short the list is.) Your company, your shareholders, your products and your customers are probably better served by you using your existing scientific expertise 100 percent of your time. Guide the ship as the scientist and leverage someone else’s expert powers in the CEO seat.

And remember, no matter what happens: It’s never as good or as bad as you first think. Good luck!

Kurt Foreman

PRESIDENT & CEO

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Facing the Future on a Solid Foundation

When Air Liquide was founded in 1902, the company was firmly focused on innovation. More than a century later, that is still the case. For proof, consider the Paris-based company’s Innovation Campus Delaware, located in Newark, Delaware.

“Here in Newark, we develop new technologies around our core R&D platforms: life science, materials, process engineering and combustion, advanced fabrication, fine chemistry for electronics and data science,” says Serban Cantacuzene, vice president of research and development, Americas, at Air Liquide.

The groundbreaking “disruptions” have led to the evolution of both the global business and the Delaware location. The choice to come to Delaware, Cantacuzene says, was “visionary.”

Air Liquide Fast-Tracks Growth

Based in Paris, Air Liquide’s roots go back to the relationship between a savvy entrepreneur, Paul Delorme, the company’s first president, and Georges Claude, who invented a process of producing oxygen from liquid air. Since gas is challenging to transport, Air Liquide quickly built an international presence by opening production units in Europe (1906), Japan (1907), Canada (1911) and the United States (1916). Today, Air Liquide is in 80 countries.

The company, which has 66,000 employees, is a recognized leader in gases, technologies and services for industry and health. Targeted sectors include chemical, steel, glass, pharma, food, metal fabrication, electronics and health care.

“Our ambition is to lead our industry, deliver long-term performance and contribute to sustainability,” says Cantacuzene, who joined Air Liquide in 1995 as a research scientist. “By leveraging the physical and chemical properties of the gases we offer, we improve the lives of patients at hospitals or at home, and we help our industrial customers produce better, faster and more efficiently while helping to lower the emissions of pollutants.”

During Cantacuzene’s nearly 25 years with Air Liquide, he’s worked in Tokyo, Tunisia, Montreal, Houston, Atlanta and Paris. He’s had positions in R&D, marketing, operations and general management. In 2018, after being in Japan, he headed back to the U.S. and the Innovation Campus Delaware.

Building an R&D Hub in Delaware

An Air Liquide subsidiary, Medal, was already present in Delaware when the company considered the Newark area for a research-and-development center that would employ nearly 120 engineers, chemists and physicists.

“Many reasons contributed to choosing the site, among which is the proximity to major universities on the East Coast, the availability of land, the proximity to major chemical partners and the support of the Delaware government,” Cantacuzene says.

Air Liquide develops new technologies with the help of a “large ecosystem” of universities, government-sponsored labs and industrial partners, he explains. The goal is to improve the competitiveness of American industries and support their growth.

The opening of the $35 million Newark center in 2007 followed the closing of a Chicago facility. Today, the Innovation Campus Delaware is one of five Air Liquide research-and-development facilities around the world. (The others are in Paris, Frankfurt, Shanghai and Tokyo.)

Air Liquide Poised for Expansion

Over the past decade, the Newark center has evolved. There are now 140 people working on the site, which has expanded the fine chemicals lab space and added indoor platforms for advanced fabrication and outdoor platforms for combustion. Air Liquide is currently building a new outdoor platform for full-scale testing of new membrane solutions.

The company has expanded in other respects. In 2016, Air Liquide acquired Airgas in Radnor, Pennsylvania, which like Newark is in the Greater Philadelphia region.

“The proximity of the Newark site to the Airgas teams enabled a close collaboration around welding and manufacturing, which lead to the launch of the Advanced Manufacturing Center within the campus in 2018,” Cantacuzene says.

The Advanced Manufacturing Center helps industrial customers adopt the latest technologies and practices. (Manufacturing makes up about 20 percent of the company’s business.) At the center, customers can view a “cobot” that welds with a robotic arm via an app.

Meanwhile, Air Liquide’s membrane manufacturing site in Wilmington, Delaware, has directly benefited from the products and technologies that were developed in nearby Newark, he notes.

Delaware’s elected officials have been supportive of the Innovation Campus Delaware’s growth, Cantacuzene says. “They are in constant contact, and they visit to understand our local needs.”

The company works with Delaware’s U. S. senators on legislative issues involving energy transition, materials and membrane innovation, CO2 separation for sequestration and new mobility issues, such as hydrogen energy.

Researchers at the Innovation Campus Delaware come from 20 nations, which makes the campus a melting pot of some very creative minds.

“Our goal is to improve human life and to lower our impact on the environment through our innovative gas processes,” Cantacuzene concludes.

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Option: 1

January 31, 2020 – 

Few savvy investors trust their gut. Instead, they rely on sound research and experience. But what if there was an even better way to mitigate risk and increase the reward? That was the question that two University of Delaware graduate students set out to answer.

Anthony Rossi and Duanyi Wei were not in a business class, however. They were working side by side in the robotics lab when they wondered if they could apply some of the same principles to the financial world.

“Think of us as merging the world of robotics engineering and financial decision-making, if you will,” Rossi explains. “Essentially, we are creating the autopilot for asset management.”

If you’re picturing C-3PO, the droid from Star Wars, in a pinstripe suit, think again. The field of robotics involves more than hardware. Robots navigate around an uncertain environment, such as the moon’s surface. They need to “make decisions” when faced with obstacles, much like the mechanical systems on a commercial airliner make adjustments.

The partners wanted to create a platform that could evaluate risk and make choices in the potentially volatile financial market. “There’s no human emotion involved,” Wei says. “We factored out those distractions, so it’s consistent and systematic.”

In 2017, the partners started Lyapunov Technologies in honor of Russian mathematician Aleksandr Lyapunov whose work laid a foundation for risk management in robotics and inspired the duo to explore and create novel applications in the financial market. The fintech company is an example of a new wave in financial technology.

Beyond Bitcoin

In the news, financial technology—or fintech for short—is often linked with blockchain or cryptocurrencies. But it’s much more, Rossi says. “There is a wide range of technologies—typically software-related—that streamline processes, improve existing financial services and, in some cases, create new markets.”

Rossi and Wei wanted to create one of those new markets. So, they did their research. At UD, Rossi got a Lerner MBA. Wei, who earned a Master of Science in mechanical engineering from UD, also audited business classes. They turned to UD’s Horn Entrepreneurship Venture Development Center and joined the Summer Founders program. They were also finalists in four pitch Competitions, including the Southeastern Hedge Fund Competition, where they won third place. (They beat teams from MIT and Duke.)

After graduating in 2018, the founders hit the ground running. Lyapunov Technologies, which is headquartered at 1313 Innovation in downtown Wilmington, has targeted hedge funds, banks and insurance companies. Retirement accounts and pension funds will be a main emphasis in the future.

The company is not focused on beating others to a hot investment. Instead, their unique engineering-derived approach seeks to make sound investment decisions  based on systematic risk management framework that has proven in other high-risk engineering applications. The platform, as a result of more than three years of research and development of the team, can not only make the decisions behind the scene, but it can automate and execute the orders. Next up: The founders will roll out a registered investment (RIA) and commodity trading advisory (CTA) business.

“We know from the ground up how all the technology works, so it’s easier to create value as a sub-advisor to others rather than licensing it,” Rossi says. The advisory division will have a different name than Lyapunov Technologies.

Fabulous for a Fintech Company

Rossi, a lifelong Delawarean, says the area has been a perfect incubator, and not only because of the University of Delaware’s resources. The partners appreciate the quality of life and Delaware’s proximity to mountains and oceans, as well as major urban hubs on the East Coast. Wei, who lived in Indiana while going to Purdue University, likes Delaware’s lack of a sales tax.

The state benefits a fintech business. “For fintech, you need to be able to pull the right resources together to navigate both the business and regulatory landscape,” Wei says. “Delaware is uniquely positioned to foster fintech innovation.  As a startup, we can get into rooms with state legislators and decision-makers relatively quickly. There’s a lot of agility when it comes to getting the right people together.”

Rossi believes that the fintech sector is still in the early stages. “There is a lot of opportunity to improve efficiencies and increase access, as well as create new markets and products,” he says. “There will likely be a lot of partnerships with fintech companies and large financial institutions. The large firms want to be a part of the up-and-coming technologies, and this can create excellent synergy between startups and financial institutions.”

In Delaware, Lyapunov Technologies is poised to capitalize on the trend. Says Rossi: “There is a tremendous pool of talent, ideas and world-renowned financial firms in the area.”

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