OneStart is a competition for young burgeoning entrepreneurs trying to bridge the gap between the laboratory and a successful startup. We want to provide young, talented individuals with the skills, resources and network they need to bring their idea to an investable position – not just the winner. All 35 semi-finalists will receive extensive mentorship from experience industry profession and skills training. Further, they will have multiple opportunities to network with executives from our partners and supporters, including GSK, Roche, Nature Biotech, McKinsey, SR One, Covington and many more successful biotech entrepreneurs.
We are open to individuals and teams with or without ideas. Those with ideas are encouraged to fill out our first round application form at our website, found here . Individuals who are talented, interested in entrepreneurship and suitably qualified can fill out an application at our Co-Founders Hub, where those with ideas can find the talent they need to execute on their idea.
The Prize
The winners will receive a package of cash and services to help them develop their idea to the next stage, ideally an investable position. The winner receives: £100k (>$150k) cash, which must be used for developing the idea. In addition they receive up to 6 months of free lab space at Stevenage BioScience Catalyst (which is located on GlaxoSmithKline’s campus), 1 year Membership to One Nucleus and Business and Intellectual Property support.
It is important to note that the only requirement for the winners is that the money be used to advance their idea. The prize money does not constitute an equity investment, neither SR One nor OBR take any stake in the winning idea and SR One has no preferential access nor right of first refusal if and when they seek additional rounds of funding.
Competition Structure
The Competition contains three rounds. Anyone meeting the eligibility requirements may submit a first round application, consisting of a completed entry form. Applications from individuals or teams at all stages of development are welcome. The first round application does not require a full proposal or business plan but should demonstrate the potential of your idea.
Up to 35 semi-finalists teams will be selected to move onto the second round, where they will participate in a one day Business Bootcamp in London on March 16th, 2013. This is a required session for all semi-finalists. This will entail a full day of seminars, breakout sessions and workshops with industry leaders from across the venture capital, biotech, pharma and advisory community. Teams will also have the opportunity to give short pitches to panels of experts who will provide specific feedback and advice.
After the bootcamp semi-finalists are given several weeks to prepare a 7-10 page business plan and investor slide deck.
From these 35 submitted business plans, ten finalists will be invited to pitch their idea to a panel of expert judges (in front of a live audience) in London in May, 2013. One will take home the prize.
Eligibility Requirements
The OneStart Competition is open to individuals or teams of aspiring Life Science entrepreneurs. Each member of the team must meet the following conditions:
- Be less than 36 years of age on the day your application is submitted
- Currently living (working, studying, etc.) in the UK or an EU member state (does not have to be a UK or EU citizen)
Evaluation Criteria
The panel of expert judges will consider a variety of factors when assessing applications. The primary considerations will be the feasibility of the idea and the capacity of the team to move that idea forward. Weighing these considerations will require analysis of all of the following factors, and many more:
- Degree of innovation
- Ability to impact patient health
- Team’s ability to execute and their range of talents and backgrounds
- Quality of business plan and strategy
- Potential economic prospects
- Other relevant information provided by applicants
OneStart is a fantastic opportunity from Oxbridge Biotech, the event has been lead by John Daley. If you have any questions about the competition please email, onestart@oxbridgebiotech.com.
Related articles
- Collaboration platform for Entrepreneurs, Startacus (thestartupmag.com)
- Business advice from some of the best entrepreneurs, on The Startup Magazine (thestartupmag.com)
- To hire or not to hire: How to conduct a job interview (thestartupmag.com)
