BioInnovation Institute (BII) will promote collaborative, interdisciplinary, research-based innovation in the life sciences and help build viable start-up companies with the necessary skills to ensure such innovations become widely available solutions for the benefit of human welfare and society.
The BII Business Acceleration Academy (BAA) Program accelerates the commercialization of novel life sciences companies that have obtained technical proof of concept within biomedicine, medical technology and biotechnology in Denmark.
The BII BAA Program is an accelerator grant provided as a three-month full-time program, starting at the beginning of March 2019 on the premises of BII where participating companies are expected to be present physically (Copenhagen). The program provides hands-on company development where early life science companies are scoped and a solid initial business plan is established; including commercial aspects such as product/market strategy, IP/legal, business model, organization and finance.
AREAS OF SUPPORT
The BII BAA Program supports novel, Danish research innovation companies that have obtained technical proof of concept.
Support is provided for very early life sciences companies (CVR registered in Denmark) with a clear commercial focus and ambitions of bringing new discoveries within biomedicine, medical technology and biotechnology to the market.
It is expected that one or more of the company owners have obtained a master's degree in the field of life science research or equivalent qualification at the time of application.
The applying project must establish a company CVR registered in Denmark. Company owners could be current or previous faculty members, researchers and employees based at Universities, hospitals, life science start-ups and spin-outs, life science incubators or other research institutes in Denmark.
Companies applying for the BII BAA Program should have obtained technical proof of concept and are about to step into the non-scientific fields of commercialization.
Only one application is allowed per company. Simultaneous applications for other BII programs (Proof of Concept grants or Incubation convertible loans) are not accepted. If a company submits the same (or a very similar) application in two consecutive application rounds without being granted funding, the company will be quarantined from applying for BAA grants for a year, except if the company changes to a very different character and focus.
The grant can cover expenses related to participation in the BII BAA Program at a maximum of DKK 0.6 million over a period of 3 months.
The BII BAA Program is a focused, integrated acceleration and development program for companies that request support to speed up their commercial process. The Program is individually customized based on maturity, industry and needs of the participating companies.
The grant can be used to cover expenses for activities such as:
- Salary for staff
- Consultancy cost
- Relocation and project related travel
Funding cannot be used for
- Overhead (e.g. insurance, telephone or utilities)
- Conferences (incl. travel to conferences)
Applicants are encouraged to seek additional soft and non-dilutive funding from other institutions to support the company’s acceleration.
The application should be completed and submitted using the electronic application system, which can be accessed from this link:
It is important that applicants carefully read ”Information and Guidelines for Applicants”, before initiating the application process, as this document contains the complete call as well as detailed instructions for the application process.
The BII BAA Program application of max. 5,000 characters (supplementary slide-deck of max. 10 slides) must cover but is not limited to the following areas:
- Overview of the project team and their scientific and commercial competencies
- Demonstration of scientific excellence of research (PoC, feasibility)
- Description of the unmet market need of the discovery
- Evaluation of the market potential of the discovery
- Approach for translation of research into commercial opportunity, i.e. key assumptions for ability to commercialize the research
- Risk identification and mitigation plan for the commercial opportunity
- Overview of IPR/legal aspects
In addition to the application, we ask for a budget submission in the system. Please also upload CVs for all company owners as well as a list of relevant publications.
The BioInnovation Institute’s BAA selection committee will evaluate the applications and base their assessment and recommendation on the following criteria.
- The qualifications of the applying project team and their commitment and ability to further progress the company
- Commercial potential
- Significance and originality of the idea
- The IPR and legal situation for the research findings behind the company
- The suggested approach for further development