A new programme from Opportunity North East will help life sciences businesses in north east Scotland to prepare for raising investment.
The business support programme, tailored to the needs of participants and delivered via the ONE Life Sciences Leadership Forum, comprises four virtual workshops and associated one-to-one support.
ONE is working with the UK's most significant science incubator BioCity Group to deliver the investment ready series, which is already fully subscribed. CEOs in early-stage companies or managers within more established companies who will take a role in future funding and investment rounds are the target audience.
The programme, which starts on 6 October, is fully funded by ONE as part of the broader action and investment it is leading, with regional and national partners, to double the number of life sciences companies in and around Aberdeen.
It will provide participants with an understanding of investment readiness, investment types and the implications of raising finance. They will also prepare and deliver an investment pitch and will receive feedback on it from sector-specialist investors, helping them to strengthen their investment propositions.
Businesses in the UK biotech sector raised £894 million in investment in the first half of 2020. Seed and early-stage investment remain some of the most challenging hurdles for businesses to overcome.
Prof Stephen Logan, chair of the ONE Life Sciences sector board, said: “Raising investment is key to the growth of successful life sciences companies. These workshops will help to build capacity within businesses and develop individual team members to take on investment responsibility in future funding rounds.
"ONE's investment in delivering specialist support for the sector will ensure that life sciences businesses based in north east Scotland are equipped with the tools, knowledge and insights to succeed. The sector goal is to anchor growing innovative businesses here for the long term along with the high-value employment that they provide.
"Providing best-in-class business support to our life sciences innovators, will also accelerate the commercialisation of research and ideas to bring new drugs, products and technology to market to treat patients and enhance healthcare delivery. This will benefit the health economy regionally and nationally,” said Prof Logan.
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