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Training program for future Bioentrepreneurs

Final Report Summary - BIOBIZ 4 (Training program for future Bioentrepreneurs)

The goal of BIOBIZ 4 was to continue to train European scientists and to foster entrepreneurship in life sciences, ease their access to capital through better business planning, thus increasing the number of successful start-up companies in Europe. The BIOBIZ initiative was successfully run in the Fourth Framework Programme (FP4) as part of 'Advanced practical workshop biotechnology', and is ongoing in Fifth Framework Programme (FP5) as part 'The cell dactory' as an accompanying measure.

At the end of February 2003, 306 scientists were trained, which generated the start-up of 30 new companies and helped several successful rounds of fund raising for others. The feedback from participants and controllers from the European Commission in the first workshops has been excellent. Some examples are Dr Luca Benatti from Milan, Italy, founder and CEO of Newron. Dr Jean Chatellier, founder of Avidis(F, UK), wrote an article for the summer 2000 issue of MCFA News. He confirmed that BIOBIZ was the basis of the business planning for Avidis. What he learned during the workshop further helped him raise the necessary funds to start the company.

Based on these elements, Eurobiobiz delivered 30 BIOBIZ workshops over 36 months and trained 248 European scientists on the method and tools to build the business plan of their future company, thereby facilitating their access to capital investors. Eurobiobiz conducted these workshops throughout European, associated and candidate countries, with additional emphasis placed (10 workshops) on the Eastern European candidate countries. Furthermore, it held two in the United States for European nationals wishing to return to Europe to start their business.

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