Science4Life, the business plan competition for the future-oriented sectors of life sciences, chemistry, and energy, offers aspiring entrepreneurs the opportunity to make their business ideas marketable and supports them on their journey to establishing their own company. In addition to prize money totaling €85,000, participants benefit from exclusive workshops, access to a network of over 300 industry experts, online seminars, digital events, and much more.
"In times of Corona, it became clear how important innovations are for society. Only in this way can we respond quickly to global challenges,"
explains Science4Life project manager Peter Wonerow.
Science4Life: Competition in three phases
The competition consists of three phases: In the ideation phase, which now begins, startups describe their technology, present their business idea, and assess its market viability. They then receive detailed written feedback outlining the strengths and weaknesses of their business idea. Startups from the life sciences and chemicals sectors can apply starting September 1. on-line for the Science4Life Venture Cup, and energy founders for the Science4Life Energy Cup. The registration deadline is October 23, 2020. The best teams will be invited to the Science4Life Academy Days in Frankfurt am Main. There, they will have the opportunity to discuss and further develop their business idea with experts. The best ideas will receive prize money of €500.
In the subsequent concept phase, participants focus on defining the target market, developing and formulating the business concept, and reviewing market opportunities. The teams also receive individual coaching and workshops tailored to their specific needs.
In the business plan phase, startups then create a complete business plan outlining their business venture. They also refine their corporate strategy and plan their market entry. Each phase of the competition is open to new participants, so startups don't have to be there from the start to win.
Winning teams from Munich
Munich-based startups are also regularly among the winners of Science4Life. For example, Deoxy, Dermagnostix and Pioneering power Dermagnostix had already been successful in the idea phase. But Munich-based start-ups such as Kumovis, Inveox or ScintHealth have already been awarded by Science4Life.
