Frequently Asked Questions
1. What is Life Science Accelerator?
Life Science Accelerator is a new concept in Finland focusing on solutions for pharma, diagnostics and related business areas including service concepts. Also, we are not only a “traditional” business accelerator but also accept e.g. pre-company project teams on board.
2. What are you looking for?
We are looking for viable ideas within pharma, diagnostics and related areas, including service business. The concept can be based on e.g. an academic research project which has reached a phase where scientific and technical proof has been obtained. Young Life Science companies or companies to-be-established are also welcome. We don’t have a strict “age limit” for the company – more important is that you are looking for a new start, new business model or something else which you believe can skyrocket your business.
3. HOW CAN I APPLY FOR THE ACCELERATOR PROGRAM?
4. HOW ARE THE TEAMS SELECTED FOR THE ACCELERATOR?
The Accelerator team makes the preselection of the teams qualified to pitch for the Selection Board, which makes the final choices. The Selection Board consists of persons with business and substance expertise fitting the profiles of the teams presenting.
5. How many TEAMS CAN YOU ACCELERATE each year?
For the first year, we expect to select 5-8 teams for the first accelerator batch starting in Q1/2017. A second batch of 5-8 teams will be selected to start after summer during Q3/2017.
6. DO I HAVE TO MOVE TO TURKU TO JOIN THE PROGRAM?
No, moving to Turku is not necessary. We are working nationally and applying semi-virtual working methods. However, regular face-to-face meetings are necessary.
7. CAN I GET MY PROJECT/COMPANY FUNDED BY YOU?
We don’t provide you with funding, but if funding is the key to your success, our program will help you to connect with and approach e.g. investors or other funding instruments.
8. what can I expect to happen during THE 6-12 MONTHS’ ACCELERATOR PHASE?
To start with, we will together with you set up a development plan for your idea with an overall business goal or business maturity goal as well as clearly defined milestones. You will receive a personal coach to guide you through the development plan. The coach also will help to identify your specific support needs and connect you to suitable mentors in our network. After a successful Accelerator program you will have tools and readiness to e.g. attract investors or industrial partners or set-up your own business.
9. WhO ARE IN YOUR NETWORK and what is their role?
We have a network of collaborators from the industry, other accelerators, expert services and private persons participating in both the selection process and mentoring, and also helping with further connections to international business environments.
10. IS THERE ANY LAB SPACE AVAILABLE FOR THE TEAMS IF NEEDED?
Laboratory space is available at the Turku Science Park Bioincubator. The concept will be rebuilt during 2017 to include open/coworking space and a variety of other access plans to serve even better also the needs of Life Science Accelerator teams.