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Biotechnology Engineering Initiative
Biotechnology Young Entrepreneurs Scheme (BYES)
The Biotechnology Young Entrepreneurs Scheme
(BYES) is an innovative competition
developed by Professor John Peberdy MBE of
Nottingham University and the Biotechnology
and Biological Sciences Research Council (BBSRC)
to raise awareness of the commercialisation
of bioscience ideas among undergraduate
students, postgraduate students and
postdoctoral scientists.
The competition is
funded by sponsorship by both the public and
private sectors and aims to encourage an
entrepreneurial culture in the UK bioscience
base for the benefit of the UK economy. The
Gatsby Charitable Foundation is a principal
sponsor through The Royal Academy of
Engineering.
How it works
The annual competition
is run as a weekend workshop where students,
grouped into teams of five, hear from
leading figures in the biotechnology
industry on all aspects of the
commercialisation of bioscience ideas and
technology transfer.
Topics covered include:
-
The requirements
of a business plan
-
Intellectual
property and patenting strategy
-
Financing a new
business
-
Financial planning
-
Commercial and
marketing strategies
-
Company case
histories
-
Product
development case histories
This knowledge is then
utilised by participants to prepare a
business plan for an ‘imaginary’ biotech
start-up company. The plan is prepared by
the team with each member assuming a
different role within the company.
Participants are fully
briefed on what to expect at the weekend
workshops at a briefing session held 6–8
weeks prior to the workshops, allowing
plenty of time for the preparation of ideas
and background research.
At the weekend
workshop, postgraduate student/postdoctoral
scientist teams remain at the weekend venue
for two days to prepare and present an oral
presentation of their plans. Expert mentors
from the biotechnology industry are on hand
to help.
Undergraduate students
return to their universities to prepare a
written business plan, submitted four weeks
after the workshop.
Judging
The plans are judged
in the competition by venture capitalists,
looking for an investment opportunity. As in
real life, the business plan will be used as
a selling document to attract financial
support for the business.
Winners of the three
regional postgraduate/postdoctoral workshops
(held Sept/Oct) progress through to the
final, held in London at the DTI Conference
Centre in December. Undergraduate finalists
also meet at this venue to determine an
overall undergraduate winner and runner-up.
For more information
visit the official Biotechnology Yes website at
www.biotechnologyyes.co.uk
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