BioInnovation Institute is announcing the new flagship program: BII Venture Lab. The program will combine business acceleration, scientific development and team development and is designed to help newly established start-ups in the early phases.
BII Venture Lab is for companies who have yet to conduct the critical experiments, make a business plan and set a team that will allow them to apply for programs such as BII’s Creation House. For 12 months, the BII Venture Lab teams will relocate to BII’s offices and labs in Copenhagen and work with three dedicated anchors on the three program pillars: Science, business and team.
The program comes with a EUR 500K risk-free convertible loan, a milestone plan to conduct critical experiments and access to a global network of experts and VC’s.
We asked Senior Business Developer at BII, Christian Brix Tillegreen, three questions about the program.
What does BII offer in the program?
From experience, we see that early-stage start-ups in life science need three things: Scientific development, business development and team development. We have combined the three in a 12-month long program with a convertible loan of EUR 500K that allows the start-ups to conduct a critical experiment. Many accelerator programs are very intense and leave little time to focus on science while building the business. In Venture Lab, the start-ups concentrate on both.
What is it like to be part of the program?
BII is a life science incubator with tons of early projects and start-ups at different maturity. In the BII Venture Lab program, the accepted start-ups will relocate to Copenhagen to be part of this environment and follow the business development workshops on topics such as strategy, fundraising, pitch training and visual identity. The teams will work closely with a scientific anchor, an anchor from the BII Business Development team and leadership coach each of whom are selected to match the start-ups’ needs and scientific area.
Where will the program take the start-ups?
Our focus is to get the companies ready for the seed investment stage. That requires a solid business plan, a good data package and professional management. Many investors are focused on team competencies, which is why we help with the recruitment of entrepreneurial profiles or with team development while the companies are incubated at BII. By the end of the Venture Lab program, the start-ups can apply for the BII Creation House program with EUR 1.3M in funding to further develop towards a Series A investment.
Read more about BII Venture Lab
The open call for BII Venture Lab is expected in early 2021. If you want to receive notifications about the program and when it opens, click here to contact Senior Business Developer Christian Brix Tillegreen.