Project offers coaching to start-ups

Firms join £100k fast-track scheme at BioCity

BioCityFive early stage companies at the BioCity Scotland incubator are to be fast-tracked through a new coaching programme which offers the prospect of £100,000 investment.

BioAscent, Chitopolymers, Glimpse,Link Technologies and TeraHertz Power have been chosen to take part in the nine-week ‘Develop’ programme.

It provides business start-ups, early-stage or developing companies in the life sciences sector with intensive support and one-to-one coaching from a network of coaches.

They will help participants challenge and test the ideas for new products, services and business areas, helping them to identify and understand any key challenges they will face and help them design a business model which has the best chance of success.

Those who successfully complete the “Develop” programme will then have the opportunity to move onto the “Launch” programme which will offer businesses one-to-one coaching followed by the chance to pitch to BioCity Scotland and Gabriel Angel Syndicate – and the cash award.

Dr Diane Harbison, managing director of BioCity Scotland, said: “Too many business start-ups fail at the first hurdle because they rush into launching without fully understanding the challenges and the opportunities available.

“It’s easy to get carried away in the emotion of starting a new venture – particularly in an industry such as life sciences, where there is the potential to make a significant difference to people’s lives.

“The concepts of ‘lean start-up’ and ‘evidence based entrepreneurship’ are becoming well established in the digital technology arena, but BioCity, through the Develop programme are adapting and applying these techniques for start-ups in the complicated world of healthcare.

“That’s why I’m delighted to launch the programme, which has a proven track record of success at our sister company BioCity Nottingham, where it has already helped 70 business start-ups in just 18 months. I am confident that “Develop” will be just as productive here in Scotland, where there is a wealth of talent just waiting to be nurtured using this winning formula.”

Yvonne Weir, Economic Development Manager at North Lanarkshire Council, which is sponsoring the programme, said: “This new programme will provide an excellent platform for the companies involved to excel, following the intensive support and coaching being delivered.”

Since its launch in 2012, BioCity Scotland has become a focal point for Scotland’s life science industry. BioCity provides high spec laboratories and office space, as well as access to expertise, finance and a community of like-minded people, making it a hothouse for biotech, pharmaceutical and healthcare businesses to start up and thrive.

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