BioInnovation Institute (BII), an international commercial foundation with a non-profit objective incubating and accelerating world-class life science research, today announces the first cohort of participants in the Venture Lab acceleration program for early-stage companies. Comprising a pan-European spread of start-up initiatives and university research projects, the seven ventures are developing revolutionary science across BII’s three sector specialised areas – therapeutics, bioindustrials and health tech.
Designed to help build research-based ideas with high-growth commercial potential into viable start-up companies, BII’s 12 month Venture Lab program supports business acceleration, scientific development and team development, and provides a risk-free convertible loan of EUR 500.000 plus access to labs and offices at BII’s entrepreneurial ecosystem in the center of Copenhagen.
Commenting on the launch, Bobby Soni, Chief Business Officer at BioInnovation Institute, said:
“BII’s Venture Lab program offers a platform for bringing ground-breaking science and research ideas to life and will be instrumental in enabling scientists and entrepreneurs to tap into a wealth of expertise and support. We continue to receive many high-quality applications and are delighted to have selected a cohort of first-class initiatives consistent with our ambition to support innovation that will positively impact global health and the environment.”
Each start-up will be supported in conducting key experiments to reach initial proof of concept, to make a business plan and to set up a team. Assisted by a dedicated scientific advisor, a leadership coach and a BII business development expert, start-up companies will be guided in developing a detailed milestone plan and will be helped to overcome challenges.
Since inception in 2018, BII has supported 68 start-ups and projects with EUR 35 million in funding. BII’s start-ups have in total raised more than EUR 112 million from local and international investors. Its diverse team brings venture capital, pharma and business expertise together to help early stage companies accelerate to the next level. Recent portfolio / incubated company successes include Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio and Chromologics.