Bioindustry Park Canavese Launches Discovery
The Project is Aimed at Creating New Companies in Biotechnologies and Life Science
It's take-off for Discovery, the project that Bioindustry Park Canavese, with the financial backing of the Piedmont Regional Authority, is launching to help Italian researchers set up companies in the biotechnologies and Life Sciences sector, based on high-tech projects.
Special terms and support to turn the scientific project into a business idea, availability of dedicated infrastructures for new start-ups, access to complementary skills, financial backing in the subsequent development stages: these are the foundation stones of the Discovery model.
The Discovery project therefore consists of three core phases: selection of deserving scientific projects, location of the company in the park Bioincubator that also provides equipment and services and, something completely new on the Italian scene, investment by non-institutional bodies that the park has been able to involve in the scheme.
This model, developed also following the guidelines of the management consulting firm Arthur D. Little, and realized with the support of ASSOBIOTEC, makes Discovery the first example in Italy of a synergic and systemic approach to the problem of creating new businesses in the biotechnology sector.
Three venture capital firms, Index Ventures, Edmond de Rothschild Investment Partner and Merlin Biosciences will take part in selecting the ideas to be developed: a fact that testifies to the merit of Discovery scheme.
Advantages for selected projects: laboratory premises of about 30 sq.m in the Bioincubator (an investment of over 2 million Euros), an intensive training course on issues in managing a biotechnology company, free management tutoring for 24 months, and special terms for using the Park's laboratory services.
Bioindustry Park will give every business a budget of 24,000 Euros for startup expenses and dedicated scientific apparatus.
Over the subsequent 24 months over 3 million Euros of seed capital will be available to support the development of those businesses. This will be provided by a special independent seed capital company, Eporgen Venture, being set up by a group of informal investors.
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