Do you have a brilliant business idea that you're convinced could be the next big thing in the life sciences sector? Could you benefit from a massive business boosting prize package, expert coaching and tailored business support?
Over August, The University of Birmingham's business incubator, BizzInn, launched the Entrepreneurs Challenge to find the next big health innovation with the potential to have a significant impact on the life sciences sector. The deadline for applications is Wednesday 30th September.
A substantial prize is on offer to the winner worth over £15,000 which comprises of a full package of business support designed to help accelerate their business. The prize includes:
The Entrepreneurs Challenge has been specifically designed to help entrepreneurs to assess their business idea and to develop a credible exploitation plan which will help to launch their new product, service or innovation.
The Challenge is open to entrepreneurs, start-ups and SMEs in the West Midlands, that have the next big idea with the potential to impact the medical/biotech or overall life sciences sector.
Entrepreneurs selected at the first stage of the competitions process will all benefit from a full day’s business support workshop delivered by expert business strategists, such as intellectual property specialists HGF; in conjunction with the University of Birmingham's Enterprise Acceleration team.
The workshop will cover a range of topics including IP, analysing and articulating markets and competition, understanding and communicating the customer offer, developing and presenting business models and financial plans, and identifying capabilities and building a skilled team. The workshop will also cover preparing and presenting a pitch.
David Coleman, The University of Birmingham's Head of Enterprise Acceleration, said:
"Bringing a new innovation to market can be a daunting experience, particularly to those who are just starting out. These workshops will help participants, whatever their previous experience, understand how they can engage and work with their potential customer base, to validate their ideas, and develop a credible business strategy".
Chris Moore, Partner at HGF, said:
"We are pleased to be able to contribute to this fantastic opportunity for early stage businesses. It is at the commencement of any innovation cycle that pre-revenue businesses need to decide how best to position themselves commercially and consider appropriate protection, but such considerations are often missed or downplayed. The workshops should certainly help to provide the participants with a useful framework to help bring their ideas to fruition commercially."
There will be no cost to those eligible to participate, each of whom will benefit from the ERDF-funded business support of BizzInn.
The BizzInn Incubator
BizzInn is located at Birmingham Research Park and has been set up by the University of Birmingham to help new innovative businesses grow. It provides a number of services to individuals or teams of entrepreneurs in the West Midlands, whether or not they have incorporated a company. It helps to validate and refine their offerings and kick-start their operations, in a supportive environment which minimizes start-up costs. BizzInn is a key provider of support for the new £6.8m BioHub Birmingham part-funded by the European Development Fund (ERDF). The BioHub is a brand new, fully serviced biomedical laboratory specifically designed to provide entrepreneurs and innovative start-ups with access to affordable laboratory facilities and shared equipment. The BioHub is the first purpose-built facility of its kind in the UK, and benefits from the unique location of Edgbaston Medical Quarter, perfect for high growth Life Sciences businesses.
The Entrepreneurs Challenge is open to entrepreneurs, start-ups and SME companies (with a maximum of 5 employees) which are either pre-start or trading in the West Midlands. Participants are invited to complete a simple application form which will need to be submitted by Wednesday 30th September.
For more information about the BizzInn Entrepreneurs Challenge, please contact Andrew Cruxton on either 0121 414 6132 or firstname.lastname@example.org