More than 100 projects from Switzerland and abroad competed for a place in the BaselArea.swiss accelerator program for healthcare startups. 45 percent are from Switzerland. Projects accepted for the final phase will receive a grant of up to CHF 250,000 as well as office and laboratory space free of charge.
Two Months ago the application process for the BaseLaunch accelerator program – an initiative of by BaselArea.swiss – was launched. The program aims to support entrepreneurs and companies in the implementation of their innovation and business ventures in the Basel region. The program offers startups infusions of funds, insight, infrastructure and industry access, and integrates them into one of the most dynamic biotech and healthcare ecosystems in Europe.
In their first tender 112 applications were submitted. 77 percent of the projects were from Europe, with a total of 45 percent from Switzerland and 25 projects from the rest of the world. A third of applications involved therapeutics, 20 percent were concerned with diagnostics, and 18 percent with digital healthcare and healthcare services. Other projects focused on therapeutic platforms and services, medtech, and related fields. The names of the selected ventures will soon be announced.
"The number of applicants far exceeded our expectations," says Alethia de León, Managing Director of BaseLaunch. "We now have the task of selecting up to ten of the most promising projects for the first phase."
A selection committee made up of industry experts will be responsible for the selection process. They will select the ten ventures to enter the first phase of the program. They will receive grants of up to 10,000 Swiss francs beginning in September 2017. They will then have three months to develop their business ideas in close collaboration with the BaseLaunch team and a network of experienced entrepreneurs.
Up to three startups will be selected from these companies for the second phase. They will each receive up to 250,000 Swiss francs and the opportunity to generate research data for one year in the laboratory of the Switzerland Innovation Park Basel Area and thereby achieve milestones in their business plan. Experts will also be available to advise and mentor during this time.
For Christof Klöpper, CEO of BaselArea.swiss, the large number of applications from abroad is a sure sign of the Basel region's international reputation as a world-leading life sciences center. BaselArea.swiss has passed on to BaseLaunch all of its expertise in promoting innovation and investment. "We have many years of experience of networking innovators in the local area and supporting entrepreneurs by identifying suitable partners. BaseLaunch takes full advantage of this expertise, which is particularly valuable to participants from outside the region."
BaseLaunch is backed by healthcare partners Novartis Venture Fund, Johnson & Johnson Innovation and Pfizer. BaseLaunch also collaborates with digitalswitzerland as a healthcare vertical of Kickstart Accelerator.
(Press release)
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