Do I need to have formed a business?
You do not need to have already formed a business. If you have not already formed a business, you must be seeking support for a proof of concept project, which, if successful, would lead to the creation of a company.
Am I eligible?
To be eligible to apply for the programme you must have an early stage business/business idea within the life science and healthcare sector and be looking for funding to take this idea to the next stage. The programme is focussed on attracting entrepreneurs from the research active universities in the North of England but applicants are welcome from other geographical locations and other organisations or individuals. However, if successful, the project must be led from Alderley Park with the aim of establishing a company at this location. There are no restrictions in the age or career stage of applicants.
How much money can I apply for?
The typical amount of funding available will be between £10K and £100K but amounts outside of these may be considered.
What if I have already received funding?
Companies are allowed to have received any amount of non-dilutive funding (grants, fellowships etc) or dilutive funding provided that the funding applied for in this scheme is for value adding activities and the company meets all other criteria.
What can be funded?
Funding is available for consumables, equipment, salaries (where salary is not being funded by another party, and excluding consultants) and all other reasonable business expenses.
What are the time lines for the competition?
The accelerator is open now and the closing date for applications is 31st January 2017. Successful applicants from the first stage will be invited to a 3 day bootcamp, which will be held in March 2017. Following the bootcamp, successful applicants may be funded immediately or may be asked to attend further programmes before receiving funding. These will be agreed on an individual basis.
Do I need to attend the programmes?
If successful in the first stage, you must attend the bootcamp. Further programmes are not compulsory but will be determined based on the needs of each business.
What if I have more than one idea?
You may submit more than 1 idea but we strongly recommend that you focus on one idea if you are selected for the boot camp programme.
How do I apply?
Application forms can be downloaded HERE and e-mailed to firstname.lastname@example.org
Do I need to have IP on my idea?
You do not need to have IP secured for your idea. If your institution owns the IP on your idea, check with your IP office for any pre-arrangements.
Do I need to base my company at Alderley Park?
Your business does not need to base all activities at Alderley Park initially or going forward however a condition of funding is that business will be established at Alderley Park.
If I am successful, what support do get?
Programmes: All successful candidates following the initial application stage will be invited to a 3 day boot camp which will explore the commercial viability of your business idea. Businesses selected after this stage will be invited to Develop and Launch programmes, or a customised programme encompassing getting you investor ready, at timings appropriate for your business.
Training: further training will be available in the form of 1:1 coaching, seminars, workshops and events, including preparation for being “investor ready” by the end of the programme.
Facilities: Bench space is available to successful applicants within the Open Access Lab at the BioHub at Alderley Park. This lab houses a variety of equipment available on a shared basis. Successful applicants also receive free virtual tenancy allowing the use of the hot desk facilities, and all communal facilities and services at Alderley Park.
Expert networks: Through the collaborating partners, there will be access and introductions to experts and mentoring in all areas of support your business may require. This includes the BioCity expert network, which is a managed network that can partner your business with the specific support required.
Corporate partners: BioCity has engaged with a selection of companies who can provide professional services guidance to your business e.g. legal, IP, insurance, accountancy and HR
Funding: Successful applicants after the bootcamp stage will receive seed funding typically in the form of a convertible loan (favourable terms that could convert into equity).
For a copy of the business proposal template and further details on the application process please contact us today:
How to apply?
To apply for the North of England Life Sciences Accelerator, please download and complete the NELSA application form. Once completed, please submit your application to email@example.com
Applications will be triaged by an expert panel and successful applicants from this stage will be invited to a 3 day bootcamp before the final selection.
Application deadline: 31 January 2017