BioUpper, the Italian training and acceleration platform for startup biotech promoted by Fondazione Cariplo e Novartis is reopening. It is not a contest or a competition with cash prizes, but a structured means of support for young people who want to create or develop a startup in the life sciences sector. The latest update of the programme, announced in Milan on 29th March, is aimed to those who dream of translating an idea into a real business that can overcome the bottleneck encountered in the first implementation phase of a new product. New this year is the giant IBM’s entry to the platform.
The initiative has been very successful in the past two years. In the first phase of development it has supported more than 250 projects. Out of the finalists from the first two editions of BioUpper, 70% have picked up funds totalling 2.2 million euro from grants, private investors and venture capitalists; 55% of the team have founded a company, while 45% are continuing the phase of product development. Of the participants, 65% have formed business and co-development partnerships.
Among the changes for the third edition – which will accept applications of ideas until 5th June 2018 – is the expansion of the programme to companies which are already operating in the market: The Bid for Range will represent a growth opportunity for companies in a more advanced stage of development. The three winning projects will each receive the Bid for Ideas award of up to 180 thousand euros in services, to be invested for the development of the project in the marketplace, while the winners of the Bid for Range will have the opportunity to explore potential business partners and to access the network of accelerators and incubators throughout the country.
Startups selected at the end of the Bid for Range will have the opportunity to present themselves to a technical-scientific committee composed of Novartis, Fondazione Cariplo, Ibm and Cariplo. Those judged to have the highest potential will have one-to-one support and will have access to the Match-Making Programme, a path that will bring startups to interact with key players in the market to build business opportunities.
To participate: www.bioupper.com