2017 Life Sciences Start-Up Competition Details

Full details of 2017 Life Sciences Start-Up Competition are:

Awards:

1st place: $1,500
2nd place: $1,000
3rd place: $500

Additional funds if the team starts a company by August 31, 2017:

1st place: $3,500
2nd place: $2,000
3rd place: $1,500

This money will go to cover the company costs such as incorporation/IP expenses, space rental, etc…

Competition Timeline:

  • January 5, noon – deadline to indicate whether your team is interested in a mentor.
  • February 13, midnight – deadline to submit a business plan (3 pages, in this template. Please follow instructions in the footnotes).
    Business plans will be sent to judges for grading. 10 top-ranked teams will be invited to pitch at the final event on February 23.
  • February 17 – announcing which 10 teams were selected to pitch.
  • February 22, midnight – deadline to submit pitch presentations (in both Power Point and pdf formats). Each team with have 3 minutes for a pitch.
  • February 23, 3 – 5pm – competition and awards ceremony.
    Invite your friends, mentors and academic supervisors.

The 3 winning teams will be identified and announced, and the prices will be awarded at the celebration ceremony, all on February 23.

Winner Selection Criteria

Participant Eligibility: Teams with at least one member who is a UBC student, Post doc and / or Research Associates. If more than 10 teams register, priority will be given to teams with members from the Life Sciences Institute and on the first come first serve basis.

Qualifying Ideas: Life Sciences / Medical / Bioinformatics fields, ranging from new drugs and diagnostics to medical devices, to health management platforms, to monitoring environmental ecosystems.

Business Plan Outline (Download Word template and instructions for submission here)  

1. Executive Summary (1-2 paragraphs to describe the ultimate goal of your project)
2. Market Analysis
2.1. Problem
2.2. Market Need (who are the customers)
2.3. Market Size (people impacted and costs)
3. Competition
3.1. How are Customer Needs Addressed Today
3.2. Environmental Scan (main competitors)
3.3. Competitive Advantage (what sets your approach apart, how long will it take to get there, how much value can be gained while advantage lasts)
4. Commercialization Plan:
4.1. Science / Technology Overview
4.2. Growth Strategy (IP / product development/ partnerships / contracts)
4.3. Milestones (deliverables / resources / costs and timelines for each)
5. Financial Plan
5.1. Financial Needs and Justification (as per milestones – how much will it cost to execute your commercialization plan)
5.2. Fundraising plan
5.3. Exit (out-licensing, contracts, M&A, IPO – how will your investor get their money back)
6. Team (composition, expertise, plans for expansion / hiring / advisors)

Reference materials to help you get started on your business plan:

What to include in a business plan for a biotech company 

The Entrepreneur’s Guide to a Biotech Startup

Advice for Starting a Biotech Company from a Grad Student turned Entrepreneur

Patent search websites:

WIPO – International and National Patent Collections

Google Patent Search

USPTO – United States Patent and Trademark Office

Financial information on publicly traded companies (for competitive analysis and financial planning):

SEC (US Securities and Exchange Commission) – filings by publicly traded companies

CSA (Canadian Securities Administrators) – securities documents and information filed by publicly traded companies

CAROL (Company Annual Reports On-Line) – financial pages of listed companies in Europe and the USA

Crunchbase – information about private companies

Market research databases available through UBC library