22 January 2013 -- Venture capital firm SR One has launched “OneStart,” its first business plan competition, in association with Oxbridge Biotech Roundtable and Stevenage Bioscience Catalyst. OneStart is 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.
Applications are being accepted online as of today. 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 members.” Information about the competition, including the online application, is available at:
http://www.oxbridgebiotech.com/onestart/
About SR One
SR One is the independent corporate venture capital arm of GlaxoSmithKline. The firm invests globally in emerging life science companies that are pursuing innovative science which will significantly impact medical care. Since 1985, SR One has invested in more than 140 companies, and its current portfolio includes approximately 30 private and public companies. For more information, visit: www.srone.com
About Oxbridge Biotech Roundtable
Oxbridge Biotech Roundtable is the largest student-led entrepreneurial organization in the UK devoted to the life-sciences. OBR’s mission is to move ideas forward and to that end seeks to spark an on-campus conversation between academics and industry professionals about the health-care and life sciences industry. Since its founding in 2011, it has expanded to well over 6,000 members and includes chapters in Oxford, Cambridge, London, Manchester, and San Diego. For more information visit: www.oxbridgebiotech.com
About Stevenage Bioscience Catalyst
Stevenage Bioscience Catalyst is the UK’s first open innovation bioscience campus, pioneering a unique culture to drive early stage bioscience technology and company development, and building a thriving community. 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. Consisting of an Incubator, an Accelerator and a Hub, covering 60,000 sq ft of laboratory, office and networking space, the independent facility houses a range of companies, from virtual and start-up firms to those which are more established, as well as other organisations. Located on the GlaxoSmithKline Stevenage site, Stevenage Bioscience Catalyst is in the unique position of operating in proximity to the expertise and resources of a major pharmaceutical company, close to both London and Cambridge. For more information, please visit: www.stevenagecatalyst.com
Media queries:
Melinda Stubbee
+1 919 483 2510 (North Carolina)
