We asked Hervør Lykke Olsen, senior scientific business developer at BioInnovation Institute, what the 18-month long Creation House program offers life science start-ups in medtech, biotech and pharma. The short answer is a bulletproof development plan, investor traction and infrastructure.
What does BII offer the start-ups in Creation House?
Besides a very founder-friendly convertible loan of up to DKK 10M, we offer them investor traction and massive visibility in the eco-system in Denmark and also internationally. At BII, we have a strong team of business developers as well as a network that is ever increasing and we offer the compiled knowledge, expertise and visibility to all our in-house start-ups. Great science and greats products don’t have any value if they are not seen by the big pharma companies, investors and potential partners.
Why do the start-ups relocate to BII?
The start-ups all relocate to our offices and labs because it is a huge benefit in several ways. Here, they are close to the BII team and surrounded by other start-ups with similar challenges. They are also close to the eco-system in general because we host both small and big events such as Talks at the Square and Demo Day that attract a large audience to BII. In addition to that, the start-ups don’t have the burden of finding offices, equipping labs or any of the many administrative things that come with starting a business. Instead, they can focus 100 percent on their business and BII has a professional setting for them to bring partners and investors in to.
What do the 18 months look like for a start-up?
Once a start-up is accepted in the program, we make a thorough and very detailed development plan for the next 18 months. They already have a business plan when they join the program and together with the start-up, we set clear milestones and goals for the company and make a full gap-analysis to find weak spots where BII can support with experts. Based on those, we roll out a development plan with every little step needed to reach the milestones on drug development, good manufacturing practice, regulatory strategy and so on. The BII team is always available and help with anything they might need to progress according to the plan. That could be finding experts, material for conferences, feedback on pitch and presentations and anything in between.
If your team is looking for a unique opportunity to develop your business, reach out to learn more and apply here.
We accept applications from Nordic start-ups and it is a prerequisite that the company has not received any commercial funding.