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Training program for future Bioentrepreneurs

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Learning how to start up a business

A training programme was funded by the EU to foster entrepreneurial activity in the life sciences sector.

Health

Training in the field of biosciences seldom involves education on business start-up and management issues. The biotechnology industry, however, is dependent on investment capital and the commercialisation of scientific results. Scientists, therefore, need to be trained on how to efficiently exploit their research results, draw up business plans and raise the necessary funds to establish new companies. The main aim of the EU ‘Training program for future Bioentrepreneurs’ (Biobiz 4) was to train European scientists on how to start up new companies. The project organised pilot workshops throughout Europe with special emphasis on Eastern European Candidate Countries. Over 300 scientists participated in these workshops and were taught how to build a business plan and gain access to capital investors. This resulted in the start-up of 30 new companies and helped to raise funds for many others. Overall, the Biobiz 4 project demonstrated the need for training on new business development across Europe. It provided scientists with the necessary knowledge and tools to foster the formation of new sustainable companies in the biotechnology sector.

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