Today we’re announcing that YC companies will now have exclusive access to a Science Exchange marketplace where they can instantly order experimental services from a network of over 2,500 qualified scientific service providers, all with pre-established contracts that protect companies’ IP and confidentiality.
Science Exchange (YC S11), is the world’s leading marketplace for outsourced research and development. We think this partnership will help YC companies compete on an equal footing with global pharmaceutical and biotechnology companies. More specifically, it will help:
1. Expand access to qualified service providers.
Life science and biotech entrepreneurs must balance the need to access new, innovative service providers with the time-consuming process required to vet each potential service provider for quality and capability. Science Exchange streamlines this process with a network of over 2,500 service providers that have been pre-qualified through a ISO 9001-certified evaluation process that includes metrics tied to performance on past projects. Science Exchange can also recommend the best service providers for each scope of work, further minimizing the risks inherent in outsourcing.
2. Eliminate administrative overhead
Each service provider relationship typically requires a standalone contract that may take months to negotiate and implement. Under the partnership, all service providers on the YC-Science Exchange network are available under a single contract that protects IP and confidentiality. Science Exchange also eliminates the need for YC companies to conduct costly and time-consuming regulatory audits of service providers. Science Exchange’s in-house audit team conducts on-site inspections of service providers and facilities to ensure regulatory compliance, ensuring that contracted service providers possess necessary certifications, licenses, informed consent of subjects, and data security.
3. Save money
The marketplace enables companies to quickly identify cost-competitive options and provides access to special offers exclusive to YC companies.
We’re excited to partner with Science Exchange to offer these benefits to our companies who have brilliant ideas and are meeting urgent market demands, but need the administrative and cost barriers removed so they can focus on their innovations.