Life Science Champ EGC Among 135 NC Inc. 5000 Companies
Among the fastest-growing young companies in America, 135 of them can be found right here in North Carolina, according to the latest Inc. 5000 list. And Raleigh life science consulting firm Eva Garland Consulting is on the list again, at spot 928, against all odds.
In the ranking of the fastest-growing privately held companies, many have seen growth exceeding 1,000% in 2019. But life science-related companies are rare among these listings, because they're not built for speed. Companies developing new life science technologies have vastly more hurdles to clear than IT developers or other neighbors in the nation's incubators.
EGC has broken the mould, hitting the Inc. spotlight for the second year in a row for its growth based on its expertise in identifying and managing grant funding for emerging life science companies. EGC helps its clients tap into federal agencies that distribute billions of dollars of grant money to support their innovative technologies. The National Institutes of Health, Department of Defense and National Science Foundation provide capital that can be critical for entrepreneurs. EGC makes it worthwhile for entrepreneurs to go after that funding.
“There are thousands of different types of grants available, ranging from small grants for very early-stage projects, to multi-million-dollar grants for clinical trials,” says Garland.
One popular federal program is the Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) program. Each year, the program awards more than $2 billion to support cutting-edge technologies. But landing one of these grants can be a time-consuming and overwhelming task.
“The process of identifying, applying for and managing grants is complex, so many eligible companies don’t benefit from the available grant funding sources,” says Garland, who has experience as a research scientist and life science entrepreneur. “Also, entrepreneurs need to focus on running their companies and typically do not have the time required to prepare high-quality grant proposals.”
EGC’s team helps entrepreneurs navigate the grant-funding process, providing assistance with strategic planning, proposal preparation, accounting and grant compliance. In addition, all of its grant writers hold Ph.D.s and have held faculty positions at prestigious academic institutions or have entrepreneurial and industry experience.
Heading the 2019 Inc. list for North Carolina, in rank 34 overall, is Limited Run Games of Apex. Limited's potentially unlimited run started low enough to hit growth of 6,388%, reporting revenue of $20.8 million. Three other North Carolina companies made the top 100: TradePending, Pendo, and Powerhome Solar.
Not surprisingly, software dominates the top of the state’s list, but there is no shortage of variety among companies in North Carolina. Construction measures out to be one-fifth of the most successful companies, attesting to the growth of industry and population.
EGC was recognized in the "business products and services industry" category, which is bustling to meet and support the needs of rapid industry growth. EGC and Proforma Springboard Promotions top the list for that category.
This year, EGC led the National Cancer Institute’s Pilot Assistance Program. This gives underrepresented groups a chance at filing more applications for SBIR/STTR funding.
“We are very grateful for the partnerships we have established with government, university, and non-profit organizations to provide an ecosystem for advancing early stage science and technology, said company founder and CEO Eva Garland, Ph.D. "It is particularly gratifying that each time one of our clients succeeds, and their science is advanced to commercialization, the benefits are felt throughout society.”