BioInnovation Institute offers a new funding opportunity, the PreSeed program, for research projects and start-ups. The program funds each accepted project with up to DKK 3.5M, which is given as a grant to research projects or as a convertible loan to start-ups.
The program has a strong technical focus. The purpose it to help early projects further establish the proof of concept of their research and generate strong preclinical results.
In addition to support for the scientific development, BII will also support the teams on some commercial topics such as team development, market landscape, and investor introductions. By the end of the program, the projects are expected to reach a technical inflection point that can lead to further investments from the life science eco-system.
“The PreSeed program is a unique funding opportunity focused on addressing key areas of technical validation that are necessary to secure onwards investments for early-stage projects or start-up companies. Our goal is to stimulate world-class life science innovation that drives development of a healthy and sustainable society, and we expect this funding opportunity will accelerate more early-stage projects and start-ups towards the market,” says Bobby Soni, Chief Business Officer at BioInnovation Institute.
During the 18 months’ long PreSeed program, the university projects will continue their work at their current institutions while accepted start-ups will have the opportunity to relocate to BII to use the lab- and office facilities on market terms.
The projects will work with a milestone plan and the grant or convertible loan will be paid in tranches as the projects progress. The call closes on June 4 and BII will be funding up to seven projects in the call.
This will be the only opportunity to apply for the PreSeed program as BII will develop new funding opportunities in 2021.
“While we outline and develop funding opportunities for next year, we wish to nurture early-stage projects to create a deal pipeline offering innovative solutions that will be interesting not only for further development in BII but also to international life science investors,” says Bobby Soni about the one-time opportunity.
Read more about the PreSeed program and apply on www.bioinnovationinstitute.com/preseed
About the PreSeed program
The PreSeed program has prior to the call at BioInnovation Institute been anchored with the life science investor Novo Seeds. During the years, successful companies such as Orphazyme, Galecto, STipe Therapeutics and NMD Pharma have been funded in the program by Novo Seeds.
Currently, one project from Lund University and two projects from Aarhus University, have been accepted in the program and granted DKK 3.5M. The projects will carry out their work at their current institutions with full support from BioInnovation Institute.