From our own experience, we can confirm how important it is for a young start-up to have the right advice at hand. We are therefore very happy to introduce the start-up initiative Science4Life to our community.
Expert network, further training and feedback on the business model - this is how Science4Life supports start-ups
Building a successful start-up is a challenge for every founder - especially if you have no experience in the start-up scene. It takes a lot of endurance, even more self-confidence and a lot of conviction about your own product. Especially in the life sciences sector, start-up teams expect very special requirements and industry-specific obstacles. The good news: start-ups don't have to go this route alone - a well-developed network in the industry, experience from other founders and tips on all start-up-related issues - with the Science4Life Venture Cup, the start-up initiative Science4Life is organizing a business plan competition specifically for this area Life Sciences and Chemistry.
Successful founding - this is where life sciences start-ups find support
The life sciences industry in particular offers great potential for founders to successfully implement innovative ideas. In order to navigate purposefully through all the requirements of the industry and ultimately to realize a practical business model, it takes more than a good idea alone.
A well-developed network, the right financing and learning from the experience of experienced founders help to find the right path.
With the Science4Life Venture Cup, the start-up initiative Science4Life e.V. has set itself the task of lending a helping hand to founders and supporting them on their way to their own start-up. The Science4Life Academy offers a wide range of advanced training courses, in the form of workshops and webinars, constructive feedback on your own business idea and access to a network of over 300 industry experts from a wide variety of fields.
From the idea to the final business plan
The Science4Life Venture Cup is divided into three phases: the ideas phase, the concept phase and the business plan phase.
Science4Life thus maps the different phases of a company foundation, which begins with the development of a product or service and extends through the development of a business model to concrete planning for the first few business years. So if your start-up initially only has one idea that it wants to put into practice, then your team is in good hands during the idea phase. A three-page sketch describing your business idea and the resulting product is sufficient to participate in the competition. On this basis, the Science4Life experts examine the idea with regard to its feasibility in the market.
In the second phase - the concept phase - the industry experts support the teams with word and deed in formulating the business concept. This gives the teams the opportunity to get immediate feedback on their business project and to adjust their own strategy in good time.
The third and most important phase is the business plan phase. In this phase of the competition, each founding team draws up a professional business plan. In addition to the description of the business idea and the entrepreneurial team, the focus here is on marketing, the implementation plan and financing. After each of these phases, the teams receive individual feedback and suggestions for improvement for your business project.
How Science4Life supports Start-ups
Science4Life Venture Cup participants automatically receive access to the Science4Life Academy. In regular webinars, founders learn everything about questions of patent law, market analysis or marketing and sales. The teams with the best business ideas, concepts and business plans receive individual coaching from various experts from the industry in the multi-day Academy Days - the ideal opportunity to shed light on the business model and to clarify open questions with experienced experts.
Access to the expert network is also particularly valuable. It consists of more than 300 experts from public law organizations, corporations, banks, venture capital firms, law firms, accounting firms, universities and colleges, research institutes and former participants. A total of around 85,000 euros will be awarded. Participation in the three phases is free for start-ups. Founders can enter the competition at any time - regardless of whether they have already participated in the previous phase or not.
The Science4Life Venture Cup is currently in the business plan phase. Founders can already register to participate and submit their business plan online by April 23, 2021.
We are really impressed by the concept of Science4Life and proud to work together with such a great start-up initiative.
This Initiative sounds interesting for you?
Than register now as a participate for the Science4Life Venture Cup!