The Venture Challenge Spring 2022 is now open for applications!
The Venture Challenge helps starting entrepreneurs in the life sciences to bring their service or product to the market. In a programme of approximately ten weeks, starters receive support in setting up a company and develop their idea into a solid business case. Examples from the past show that the time-to-market can be shortened through the Venture Challenge.
Coaching for enterprising researchers in life sciences
Many scientific findings never reach the market. Researchers often do not have the experience and knowledge needed to set up a commercial organisation and to come to a market-ready product. It is usually too early for private investors and experienced entrepreneurs to step in during the start-up phase, for example because the business case is not yet sufficiently clear to them. The Venture Challenge helps by developing a well-thought out business case together with the researchers. This provides insight into what is needed to bring the invention to the market.
Bring a new invention or application to the market
The Venture Challenge is aimed at teams of at least three and a maximum of four people who are planning to bring a product or service in the field of life sciences & health to the market as a new start-up. The product or service is based on a new technological discovery or a new application of existing technology, arising from scientific research. More specifically, it concerns a new therapy or medicine, diagnostics, medical device or a technology for improving existing - or accelerating the development of new - therapies or medicines. The team consists of the person who made the scientific discovery and the other founders of the start-up. If required, it can be supplemented with relevant advisors. For example, this can be a business developer from an involved Knowledge Transfer Office.
How does it work
Candidates can apply at NWO. A committee composed by NWO selects the eligible participants. The selected candidates pay a personal contribution and also receive sufficient funding for participating in the Venture Challenge, to be spent in the upcoming edition. An edition consists of two three-day bootcamps and regular coaching sessions. Participants work under the supervision of experienced coaches, to set up or improve their business case. The supervision can possibly be expanded with experts and entrepreneurs with a background in life sciences & health. The entire process takes ten to twelve weeks. At the end, the participants pitch their plans in front of a jury, including experienced entrepreneurs and investors.
More information
Information about the participation costs, application forms and more can be found on the website of NWO.
Spring edition 2022: timeline
Registration for the spring 2022 round is open since 8 December 2021. The deadline is 11 Januari 2022, 17:00 CE(S)T. The start-ups selected for this round will be announced by 24 March 2022. This will be communicated via the NWO newsletter and via this page: www.nwo.nl/en/researchprogrammes/venture-challenge
The following dates are important for the spring round:
- 27-29 April 2022 - first bootcamp
- 1-3 June 2022 - second bootcamp
- 17June 2022 - pitches for the jury
- End of April to mid of June 2022: coaching and mentoring
Organisation Venture Challenge
The Venture Challenge was carried out up by the top sector Life Sciences & Health (Health-Holland) until 2019. With effect from 2020, NWO will be responsible for the organisation, with the intention of linking up as closely as possible with the previous editions of the Venture Challenge. More information about the history and background of the Venture Challenge can be found on the website Life Sciences@work.
The Venture Challenge is an instrument of the Ministry of Economic Affairs and Climate Policy, the implementation of which has been outsourced to NWO.
Source: NWO
