BioInnovation Institute is now opening for calls for the new BII Venture Lab program and the Creation House program. The deadline for applications is February 23, 2021.
The two programs are for start-ups in therapeutics, bioindustrials and health tech with a science-based discovery that can be developed into a commercially viable product for the benefit of people and society.
The two programs offer labs and office space, business development, a global network and funding for the accepted start-ups, but the programs are designed for different levels of maturity. It is a requirement for both programs that the applying start-up has not received any commercial investments.
BII Venture Lab is for companies that have evidence-based ideas and must conduct key experiments to reach initial proof of concept, make a business plan and set a team that will allow them to apply for programs such as BII’s Creation House. During the 12-months long program, the start-ups will each have a scientific advisor, a leadership coach and a BII anchor-person that will closely follow the company’s development. BII will fund up to five companies in the program with a risk-free convertible loan of EUR 500K.
Creation House is for companies with a solid, initial business plan. In the therapeutic area, a cellular proof of concept with chemical or biological tool compounds is required. In bioindustrials, a proof of concept on MVP is required and in health tech, a scale-up ready MVP is required.
In collaboration with the BII team and our network of experts, the companies will each make a gap-analysis to find weak spots and roll out a development plan, with every little step needed to reach the milestones on drug development, good manufacturing practice, regulatory strategy et cetera. The purpose of the 18-months long program is to build a case that can attract substantial funding. BII will fund up to seven companies in the program with a risk-free convertible loan of EUR 1.3M.
Want to know more about BioInnovation Institute? Check out this short video.