20 Jan Early-stage life science ventures invited to apply for specialist support ahead of investment rounds
25 January 2021, NOTTINGHAM.
BioCity, the pioneering life science incubator and business collective, Innovate UK, the National Institute for Health Research, NHS England and NHS Improvement’s SBRI Healthcare programme today announced a new partnership to support early-stage life science ventures within the UK to get investment ready.
Working in collaboration, the organisations are launching a new Investment Readiness Programme specifically designed for MedTech, Diagnostic and Digital Health ventures seeking to raise seed or series A following-on funding.
Offered exclusively for entrepreneurs who have previously been awarded funding through Innovate UK, SBRI Healthcare, NIHR i4i or an AI in Health and Care Award (phases 1-4, managed by the Accelerated Access Collaborative in partnership with NHSX and NIHR), the programme will support those looking for investment between £100k and £2M.
The Investment Readiness programme, which launches on 25 January 2021 will encompass a series of one-to-one sessions and workshops, culminating in an online investment showcase to an elite audience of specialist investors from within the BioCity Network.
A limited number of successful applicants will be offered a place on the programme to gain an in-depth understanding of the different sources of risk capital available and the implications of each type of finance at various stages of company development. How to build the strongest investment case possible, where to find potential investors and how to select the right investors.
The programme also provides one-to-one sessions with coaches from BioCity, to evaluate the current proposition of each venture and offer personalised guidance to improve their existing investment offering.
The Investment Readiness Programme will draw to a close with an online showcase providing entrepreneurs with the opportunity to practice their pitch with seasoned investors who represent future target investors, and the opportunity to build new relationships.
Colin Roberts, BioCity Director of Venture Development said, “Although many entrepreneurs will have experience with family & friends or pre-seed rounds, follow-on rounds come with unique challenges. Getting those decisions right is crucial to a businesses’ trajectory.
“The programme has been specially designed to support MedTech, Diagnostic and Digital Health, including service delivery, ventures to successfully engage investors needed to support their future growth, commercialise scientific discovery and solve global health and environmental challenges. If the last twelve months have taught us anything it is that solutions to many of our current problems are within the hands of the scientific community. Our ultimate aim is to help them make sure those solutions make it out of the lab and into the world”.
Richard Hebdon, Innovate UK’s Interim Deputy Director – Health & Life Sciences said: “The UK life sciences sector is world class and is underpinned by thriving small and medium enterprises. Innovate UK is playing a key role in nurturing this lively ecosystem with initiatives such as this investment readiness programme. By connecting entrepreneurs with ideas and investment we can all drive growth in this vital sector.”
Director of NIHR’s Invention for Innovation (i4i) programme Martin Hunt said: “The life sciences sector is one of the UK’s greatest assets. The Investment Readiness Programme provides an important gathering of innovators, investors and other stakeholders – working collaboratively across funders towards de-risking disruptive technologies, to accelerate innovation into the NHS and the wider market for increased patient benefit.”
Manjul Rathee, CEO of BfB Labs, an SBRI Healthcare awarded company, attended a previous iteration of the Investment Readiness Programme held last year and said: “The health investment showcase is a great platform for us to run the final test for our product as it asks experienced investors the big question of how investable the product or company is at this point in time.
“It has helped us refine our value proposition, do a sense check on finances, understand the value we are able to offer to buyers and quantifying it – and being able to tell a good story about our product.”
Applications for the Investment Readiness programme are now open and will close on Monday 22nd February 2021. Full programme content, eligibility and application criteria can be found at biocity.co.uk/event/investment-readiness-programme/