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 sanofi-aventis. For ten years the mission of the Science4Life team has been to bring new ideas to entrepreneurial success.

Science4Life is focused on the annual competition of business plans specializing 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 science expert-network to give them opportunity to exchange information and 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.

Coaches and experts from over 100 institutions are supporting the initiative. The spectrum of partners covers all areas which are essential for new innovative entrepreneurs on their way to establish a new company. It covers experts such as lawyers, consultants, managing directors of biotech companies as well as top researchers from the pharmaceutical industry. The exchange of information with these experienced professionals helps to prevent possible 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

• addresses people having a business idea 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 with their start into professional independence free of charge.

The dates for the 14th round of competition September 1st 2010 Kick-off

01/13/2012	Closing date for the conceptual phase
03/15/2012	Interim award in Berlin
04/13/2012	Closing date for the business plan phase
06/18/2012	Final award in Frankfurt am Main

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FAQ

What is Science4Life?

Science4Life is a society which is supporting 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 and by sanofi-aventis as well as by more than 100 companies and institutions. Science4Life was started in 1998. Since then the Science4Life Venture cup, the business plan contest, has been conducted yearly. The 14th round started September 1st, 2011.

What is so special about Science4Life?

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

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

Everyone having a business idea in the field of life sciences or chemistry can participate. At the start of Science4Life Venture cup young companies must not be older than one year. The foundation of the company should therefore not have been earlier than September 1st, 2010.

How much does the participation cost?

The 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 winner team came from Austria.

How do I apply for the competition?

The registration is possible under www.science4life.de.

How many levels are there in the business plan competition?

There are three levels: conceptual phase, business plan phase and founder workshop.

Can I apply for the competition after the conceptual phase?

It is possible to skip the first level. However, participation in the founder workshop is just open for the five entrepreneur teams who came out on top in the business plan phase.

Why does participation pay off for me?

Every participant receives the participation manual; workshops and seminars can be attended. Coaches from industry and science are assisting throughout the competition. After each level every participant receives a written feedback by an experienced team of consultants. And one can meet a lot of 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 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.

Started in 1998, the Science4Life Venture Cup is conducted annually and has been an important tool for helping young entrepreneurs get started. Since the beginning, the organizer has been the Science4Life e.V. association.

The most important information in review:

• The federal competition addresses students, postgraduates, scientific assistants as well as employees and young entrepreneurs in the branches of life science and chemistry
• The competition is separated into three phases
• Sponsores are the provincial government of Hesse and sanofi-aventis
• Voluntary support of 100 companies
• Participation and consultation are free of charge

Phase 1: Your business concept

The first level of the competition, the conceptual phase, is used to come up with a brief, concise description of your future business. Evaluated are your business idea, your company’s representation as well as a forecasting market evaluation. A convincing executive summary is the key part

Final date phase I: 01/13/2012

Awards:

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

Phase 2: Your business plan

In the second phase of the competition you establish your complete business plan with the help of seminars and workshops with 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.

Final dates of phase 2: 04/13/2012

Awards:

1st – 5th place	participation in phase 3 (founders’ workshop)
6th –10th place	€ 2,000 each

Phase 3: The Founders’ Workshop

In the third and last phase of the Science4Life Venture Cup, you optimize your business plan by working together with our experts in a founders’ workshop lasting several days. The main goal is to convincingly present the quality of your business idea, the qualification of management and your market chances.

Individual coaching as well as intensive presentation training prepares you for the final presentation in front of a top-class jury. At the same time, this will be your dress rehearsal for your appearance in front of potential investors and business partners.

Awards:

1st place	€ 30,000
2nd place	€ 15,000
3rd place	€ 5,000
4th place	€ 3,000
5th place	€ 3,000

All winners also participate in Seed4Money, an investment forum for life sciences and chemistry. This involves a presentation in front of external sources and industrial companies in the sector of life sciences.

What makes Science4Life so special?

Science4Life is based on an interdisciplinary information network accessible throughout Germany. Coaches and evaluators from over 100 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, managing directors of biotech companies, as well as top 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 a business 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 participate in your company should have been established on or after September 1, 2010.