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GenerationS contest received 323 application in BioTechMed category

25.07.2014

GenerationS contest received 323 application in BioTechMed category

On July 20 was the final date of acceptance of applications for participation in BioTechMed track of GenerationS Federal contest accelerator. 323 projects in medicine, pharmaceuticals and biotechnology will take part in the selection process. Geography of applications for BioTechMed covers 62 cities in Russia and abroad. Representatives of three foreign countries (Kazakhstan, Belarus, Germany) joined the contest. Among the cities the leading position as for applications number is held by Moscow (59 applications), Tomsk (50 applications) and Krasnodar (25 applications).

The largest number of applications was received from the teams whose projects are at a pre-investment stage (Pre-Seed) — 160, as well as at a seed stage — 122. 73% of teams, which submitted applications to participation in the BioTechMed track, have been working on the projects no more than for 4 years.

38% of the applicants announced that they have attracted up to 50 thousand dollars on their projects, 33% had not received any investments yet and 6 projects have already received funding from 3 to 10 million dollars. Moreover, the financial support is mostly obtained from Russian grants (30%), 22% of participants invested personal funds, Institutes for development supported 19% of the projects.

36% of the participants have just formulated the technological idea and conducted laboratory tests, 21 teams launched pilot production, 41 teams organized the sale of their innovative products.

For 3 months Tomsk State University, the organizer of the BioTechMed track, has conducted more than 25 regional meetings to look for promising high-tech projects in the field of biotechnology, medicine and pharmaceuticals. The meetings have been held with representatives of the government, universities, innovation infrastructure, start-ups and businesses. 13 agreements on cooperation and support of GenerationS Federal contest have been signed.

The next step will be a multi-level assessment of the projects which will be followed by an educational program, — said Olga Babkina, Deputy Pro-rector of Research, Executive Director of Tomsk Consortium of Educational and Scientific Organizations: "Together with RVC we proceed to the next stage where the applications will be qualified on a multi-level basis by Russian and international experts. GenerationS accelerator contest and our BioTechMed sector are a real chance to find investors and gain useful contacts among experts, this educational program will be rich and interesting."

Following the expertise results a long-list will be made to include 60 projects which will have to pass remote interviews with technological and business experts in order to let them select the participants to go to accelerator. In the late August, a short-list of the 40 best projects will be posted online at www.techstartrussia.ru Their representatives will be invited to Tomsk to complete an intensive educational program of BioTechMed accelerator. Accelerator's DemoDay will be held on September 23 as part of the International Forum "Pharmaceuticals and Medical Devices" which is held in Tomsk. On this day BioTechMed's participants will present their projects in the Elevator Pitch format to investors, sponsors and partners of the accelerator program. Following the Demo Day results 10 projects will be qualified for participation in the GenerationS final in Moscow and they will get the opportunity to present their projects to the leading Russian and foreign investors.

Let us remember that BioTechMed accelerator program is implemented as part of the GenerationS Federal accelerator contest of technology startups which is held in 2014 at the initiative of the Russian Venture Company (RVC) and the Center for Innovation Development of Moscow (CID) under the auspices of the Moscow Government. Contestants are invited to compete for the right to present their projects to investors at the "Open Innovations" Moscow International Forum and also get a cash reward of 5 million rubles and special prizes from the contest partners. The main purpose of GenerationS-2014 is to find strong industry players, involve investors in transactions, and find the best solutions for the implementation in the urban environment.



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