Science4Life has been organizing the business plan competition for life sciences, chemistry, and energy for more than 25 years. In three competition phases, the startup initiative supports startups from the business idea to the concept and business plan to the launch of their entrepreneurial venture. The new competition round, with the idea phase, has been running for a few days. Those interested in starting a business as well as startups from the life sciences and chemistry sectors can submit their business idea online and participate in the Science4Life Venture Cup. Energy teams submit their business idea to the Science4Life Energy Cup. In addition to prize money totaling €77,000, the participating teams receive access to the Science4Life network, which consists of more than 300 industry experts, as well as online seminars on various startup-related topics and diverse training materials.
Anyone who would like to participate in the idea phase can already Register now and submit a three-page idea sketch online by 14 October 2024. Science4Life will also assist in developing the idea sketch Sample templateEach team receives detailed written feedback from the Science4Life experts, highlighting the strengths and weaknesses of their business idea. The best teams from the ideation phase are invited to the digital Science4Life Academy Day, where they receive individual coaching and have the opportunity to discuss and further develop their ideas in one-on-one meetings with industry experts.
Idea phase, concept phase, business plan phase – this is how the competition works
To ensure that all teams receive targeted support according to their respective phase of founding, the business plan competition is divided into three phases. In the first phase, the idea phase, the focus is on the business idea and its market potential. This allows startups to identify opportunities early on and adapt their strategies accordingly. In the second phase, the concept phase, the business model is developed and discussed in detail in close collaboration with the experts. In the final phase, the business plan phase, the business venture is planned in detail and documented in an investor-ready business plan in the form of a read deck. The teams can then start founding their own company. Startups and prospective founding teams have the option of participating in all or just individual phases. Participation in previous phases is therefore not a prerequisite for participation in later phases.
All further information about Science4Life can be found here.
