BioInnovation Institute (BII), an international commercial non-profit foundation incubating and accelerating world-class life science research, today announces the latest cohort of participants in its Venture Lab acceleration program for early-stage companies. The eight ventures are strategically aligned with BII’s focus, developing ground-breaking scientific initiatives across three specialist areas – therapeutics, bioindustrials and health tech.
Designed to help build research-based ideas with high-growth commercial potential into viable start-ups, BII’s 12-month Venture Lab program supports business acceleration, scientific and team development, and provides a risk-free convertible loan of EUR 0.5 million-plus access to labs and offices at BII’s entrepreneurial ecosystem in the center of Copenhagen. Since its inception in 2018, BII has supported 71 start-ups and projects with EUR 44 million in funding.
Commenting on today’s launch, Bobby Soni, Chief Business Officer at BioInnovation Institute, said:
“Following the launch of our Venture Lab program last year and an initial intake of exciting new companies, BII has continued to receive a stream of promising applications. We are delighted to announce the next cohort of start-up initiatives accepted onto the program and we look forward to supporting them with the many aspects of development needed to deliver first-in-class science that will positively impact global health and the environment.”
Each start-up will be supported in undertaking the necessary steps 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, these new ventures will be guided in developing a detailed milestone plan and will be provided assistance in overcoming the challenges of growing a business.
BII’s start-ups have in total raised more than EUR 147 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 stage of growth. Recent company successes include Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Chromologics.