What is Science4Life

What is Science4Life?
 
 

Science4Life is a German initiative to support founders of start-up companies in the field of Life Sciences and Chemistry.

This initiative is supported by the Government of the State of Hesse and by the global healthcare leader Sanofi. For fourteen years the mission of the Science4Life team has been to bring new ideas to entrepreneurial success.

Science4Life is focused on the annual business plan competition specialized in Life Sciences and Chemistry – the Science4Life Venture Cup. The initiative is based on the concept of bringing young entrepreneurs into contact with professionals of the Life Sciences expert-network to give them opportunities to exchange information as well as experiences and to give them a head start when founding new start-up companies. The main objective is the creation of new companies, which will have sustained economic success.
More than 230 expert advisers from over 160 institutions are supporting the initiative by acting as coaches. The spectrum of partners covers all areas that are essential for new innovative entrepreneurs on their way to establish a new company. It covers experts such as lawyers, consultants and managing directors of biotech companies, as well as renowned researchers from academia and from the pharmaceutical industry. The exchange of information with these experienced professionals helps to highlight potential problems at an early stage and to find solutions to them. Both partners benefit from these early contacts. The participants get easy access to economic, scientific and legal information. The coaches meet people who are on the cutting edge of science and get a feeling for the newest trends in the field.

The business plan competition

  • The business plan competition
  • encourages individuals with ideas in the field of Life Sciences or Chemistry.
  • supports the participants in the development of an idea into a business plan.
  • offers all participants a platform to help them commence their professional independence, free of charge.

The dates for the 18th round of competition

09/01/2015Kick-off
10/23/2015Deadline for submission of ideas
11/27/2015One-Day-Workshop for best ideas in Frankfurt am Main (Germany)
01/08/2016Deadline for submission of business concepts
02/29/2016Two-Day-Workshop for best business concepts in Berlin
03/01/2016Concept award ceremony in Berlin
04/29/2016Deadline for submission of business plans
07/08/2016Three-Day-Workshop in Rüdesheim
07/11/2016Final award ceremony in Frankfurt am Main

FAQ

What is Science4Life?

Science4Life is a society that supports founders and young entrepreneurs in the field of Life Sciences and Chemistry. It is supported by the Government of the State of Hesse in Germany, by the global healthcare leader sanofi and by more than 150 companies and institutions. Science4Life was was established in 1998. Since then the Science4Life Venture cup, the business plan contest, has been conducted annually. The th round started on September 1st, .

What is so special about Science4Life?

Science4Life is based on an interdisciplinary information network which covers the whole of Germany. The spectrum of the partners covers all areas which are relevant for a successful realisation of a business idea.

My company has not been founded yet, can I participate in Science4Life Venture Cup, the business plan competition?

Anyone having an idea in the field of Life Sciences or Chemistry can participate. Young companies entering the Science4Life Venture cup contest must not be older than one year. The foundation of the company should therefore not have been earlier than September 1st, .

How much does the participation cost?

Participation is free of charge.

Are there regional limitations to the competition?

Participation is not restricted to Germany. Participants have come from West and East European countries and also from the USA. In 2003, the winning team came from Austria.

How do I apply for the competition?

Registration is possible under www.science4life.de. Participation is strictly confidential.

How many levels are there in the business plan competition?

There are three levels: Idea phase (Phase I), conceptual phase (Phase II), business plan phase (Phase III).

Can I apply for the competition after the idea or conceptual phase?

It is possible to skip the first and or second level.

Why does participation pay off for me?

Every participant receives the participation manual and is invited to attend workshops and seminars. Coaches from industry and science will assist throughout the competition. After each level every participant will receive feedback written by an experienced team of consultants. Participants will have opportunities to meet many former participants and successful founders, who are happy to pass on their personal experience, from one entrepreneur to another.

The Nationwide Business Plan Competition Science4Life Venture Cup

The idea is as easy as it is successful: The initiative Science4Life gets young entrepreneurs together with experts in the fields of Life Sciences and Chemistry.
Its aim is to first review written ideas, business concepts and then to finish a complete business plan. Experts from many sectors essential for the establishment of a new company — lawyers, bankers, researchers, marketing experts — act as coaches and evaluators.
Established in 1998, by the Science4Life e.V. association, the Science4Life Venture Cup is awarded annually and has been an important tool for helping young entrepreneurs get started.

The most important information in review:
  • The federal competition addresses students, postgraduates and scientific assistants, as well as employees and young entrepreneurs in the branches of Life Science and Chemistry.
  • The competition is separated into three phases: idea phase (Phase I), conceptual phase (Phase II), businessplan phase (Phase III).
  • The competition is sponsored by the provincial government of Hesse and sanofi
  • The competition is supported voluntarily by more than 150 companies
  • Participation and consultation is free of charge


Phase 1: Your idea

The first level of the competition, the idea phase, is to generate a brief, concise description of your idea and of potential customers. Your ideas are evaluated by scientists and economists. You will receive written feedback by mail.

Final date phase I: 10/23/2015

Awards:
30 x participation in one-day-workshop with experts from the Science4Life network
3 x inauguration at the conceptual phase ceremony in Berlin

Phase 2: Your business concept

The second level of the competition, the conceptual phase, is to generate a brief, concise description of your future business. Your business idea is evaluated, along with your company’s representation and a forecasting market evaluation. A convincing executive summary is the key part. You will receive written feedback by mail.

Final date phase II: 01/08/2016

Awards:
10 x € 1,000
20 x two-day workshop with individual coaching by experts of the Science4Life network

Phase 3: Your business plan

In the third phase of the competition you establish your complete business plan with the help of seminars and workshops given by experts of the Science4Life network. After finishing your business plan, it will be evaluated by our panel of experts. You will then receive written feedback by mail. Ten winners are selected.

Final date phase III: 04/29/2016

Awards:
1st – 5th place participation four-day-workshop (founders’ workshop)
1st place € 25,000
2nd place € 10,000
3rd place € 5,000
4th and 5th places € 3,000
6th –10th place € 2,000 each

> registration
> participant manual
> confidentiality

What makes Science4Life so special?

Science4Life is based on an interdisciplinary information network accessible throughout Germany. Coaches and evaluators from over 150 institutions support the initiative. The spectrum of partners covers all areas relevant to the successful realization of business ideas and essential to establishing a new company. It includes experts from various sectors: lawyers, consultants and managing directors of biotech companies, as well as renowned researchers from the pharmaceutical industry. Both partners benefit from these early contacts. Participants get easy access to economic, scientific and legal information while coaches get the opportunity to meet a variety of interesting people on their way to starting their own companies.

My company has not yet been founded. Can I participate in the Science4Life Venture Cup?

Everyone who has an idea in the field of Life Sciences or Chemistry can participate. At the start of the competition young companies should not be older than one year. This means that to be eligible to participate, your company should have been established on or after September 1st, 2014.
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