Wednesday 21 January 2015Print this page
Life Sciences & Health Venture Challenge
In two 3-day workshops, you are challenged to focus your business idea to create optimal customer value and to improve your ‘pitch’. The team with the best venture plan and pitch takes home a money prize.
How it works!
The Venture Challenge consists of three stages as illustrated below and takes around five months from start to finish.
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The very first thing you have to do is to submit your proposal via an Venture Proposal Form. As this is your ticket to entry into the Challenge, make sure to complete the form as well as you can. Once we receive your Venture Proposal Form, we will assess whether you can benefit sufficiently from the workshops and the coaching programme.
Venture Proposal Stage
If your Venture Proposal looks promising, you will be invited for a team presentation. In this process, we will confirm whether your proposal have enough potential and whether you will benefit from our workshops and coaching. Before entering the Venture Plan Stage, you will be asked to sign a Confidentiality Agreement, which protects all parties.
Venture Plan Stage
This final phase, the true hands-on stage, consists of two 3-day workshop sessions and a venture plan evaluation. With our tailor-made workshops and coaching, you and the other teams invited will work on producing a Venture Plan that comprises enough technical and commercial detail to justify a presentation to potential customers, seed investors and/or any other finance organisations.
During the workshops seasoned entrepreneurs and venture capitalists are involved, providing expert input and hands-on coaching on specific topics.
A typical Venture Plan contains the following information: Customer identification; Customer value proposition; Vision; Roadmap; Competitive landscape and essential partnerships; High-level financial model; Key hypotheses and corresponding validity tests; Risks; Detailed plan and resource requirements for subsequent business plan stage.
The Venture Challe Programme explained
Finals: After the workshops you will present your Pitch to the Venture Challenge jury, consisting of several entrepreneurs and investors, which will then decide who takes home a money prize. At the final Challenge session representatives of all relevant seed-funds are invited to provide optimal investor exposure for the participating teams.
Expertise: The Venture Challenge programme is organised by Chretien Herben, former Head of Valorisation for NGI, now part of Topsector LifeSciences & Health. The Venture Challenge program is run by seasoned business coaches and Life sciences experts.
Sponsoring: The first Venture Challenge was held in fall 2008. Eleven editions were sponsored by the Netherlands Genomics Initiative (NGI). Since 2014 the Venture Challenge is sponsored by the Ministry of Economic Affairs, the topsector Life Sciences & Health and BioGeneration Vent
For more infromation, please go to: http://www.lifesciencesatwork.nl/activities/venture-challenge/