SR One launches £100,000 competition for young medtech entrepreneurs
28 January 2012
Venture capital firm SR One has launched a £100,000
competition to encourage young biotechnology and medical technology
entrepreneurs in Europe. It is being run in association with Oxbridge
Biotech Roundtable and Stevenage Bioscience Catalyst,
The competition, called OneStart, is a business plan competition
designed to inspire and encourage its participants to become the
next generation of European bio-entrepreneurs. The £100,000
winner-takes-all prize will be the largest of its kind in the world.
Uniquely, OneStart will actively connect individuals from a range of
institutions and backgrounds.
OneStart is open to aspiring life science entrepreneurs age 35
and younger who are studying or working in Europe. The competition
will be run in stages and cover four tracks: drug discovery, medical
devices, diagnostics and health information technology. The
competition will team up those who have developed a technology or
idea, such as academics, with individuals who have complementary
backgrounds and skills, e.g. business school students, or young
professionals from pharma or biotech.
A semi-final workshop day will be run on March 16, at which teams
will be given access to mentors and other resources and have the
opportunity to network with leading pharmaceutical companies,
venture capitalists, advisory firms and each other. A judging panel
of experts will select the ultimate winner from a shortlist of
finalists in May. The prize will be awarded to the most commercially
compelling business plan with the potential to impact the lives of
patients through innovation in medical care.
The prize money will be used to fund further development of the
winning plan towards a value inflection point, at which it will be
better placed to raise further funding from financial investors. The
winner will also be offered a support package provided by Stevenage
Bioscience Catalyst, which includes access to laboratory space.
Additional financial support is provided by GlaxoSmithKline, Roche
and Covington & Burling LLP.
"We believe that there is a significant opportunity to unlock
more commercial potential from the world-leading science currently
being developed in Europe," said Jens Eckstein, president of SR One.
"Business school students represent another large untapped resource
for life science entrepreneurship. Linking them directly with
academics will provide a broader range of complementary skills and
an opportunity for valuable knowledge transfer between team
Information about the competition, including the online
application, is available at:
SR One is the independent corporate venture capital arm of
Oxbridge Biotech Roundtable is the largest student-led
entrepreneurial organization in the UK devoted to the life-sciences:
Stevenage Bioscience Catalyst is the UK's first open innovation
bioscience campus. It is backed by £38m of funding from its founding
partners: GlaxoSmithKline, the Wellcome Trust, the Department for
Business, Innovation and Skills, the Technology Strategy Board and
the former East of England Development Agency: