A total of 78 teams submitted their ideas from the fields of life sciences, chemistry, and energy to the concept phase of the Science4Life business plan competition. Thirteen of them, including three startups from Munich, can now look forward to receiving an award and €1,000 each. Due to the COVID-19 pandemic, the awards ceremony was held online.
The Science4Life business plan competition consists of three phases: In the ideation phase, startups describe their technology, present their business idea, and assess its market feasibility. In the award-winning concept phase, participants focus on defining their target market, developing and formulating their business concept, and reviewing market opportunities. During the Academy Days, the teams receive support from Science4Life experts in fine-tuning their concepts. They also receive individual coaching and workshops tailored to their specific needs. Due to the coronavirus pandemic, the Academy Days took place online this year.
In the business plan phase, startups finally create a complete business plan outlining their business venture. They also refine their corporate strategy and plan their market entry. Startups can enter and win in all three phases. Applications for the business plan phase are still possible until April 17. The winning teams from each phase qualify for selected workshops during the Academy Days. A total of approximately €85,000 in prize money will be awarded as part of the business plan competition.
Deoxy and Dermagnostix honored in the Science4Life Venture Cup
A total of 10 young companies were honored in the Science4Life Venture Cup, including the Munich-based startups Deoxy and Dermagnostix. The Venture Cup is specifically geared to the needs of the life sciences and chemical industries. The team from Deoxy uses DNA nanoparticles to quantify gene activity within thousands of individual cells and provide precise, personalized diagnoses for cancer therapy. The founders of Dermagnostix In dermatology, they bridge the gap between highly effective therapeutics and outdated diagnostic procedures. A molecular diagnostic point-of-care device is used to differentiate psoriasis from eczema.
The Science4Life Energy Cup is open exclusively to startup teams or young companies that are developing or already offering products, services, or digital business models in the energy sector. Three teams received awards in the concept phase, including the Munich-based Pioneering powerTheir solution makes it possible to share self-generated renewable energy from photovoltaic systems with neighboring households.
The Founder initiative Science4Life is an initiative of the Hessian state government and the healthcare company Sanofi. Once a year, it hosts a nationwide business plan competition for the life sciences, chemicals, and energy sectors. Since its founding in 1998, more than 7,000 people have participated in the competition, and over 2,000 business ideas have been submitted and evaluated. The startup initiative consists of a network of industry experts from more than 200 companies who share their expertise and experience with the competition participants. Over 1,000 companies have been successfully founded.
