What we offer
VenGen encourages a phased approach in the venture creation process:
Scientists and entrepreneurs with ideas for a life science venture are invited to contact us and submit their ideas or make an appointment for a consulting hour (no strings attached, free of charge).
VenGen first assesses whether it is appropriate to initiate further discussions. When positive, a closed meeting is scheduled (under a secrecy agreement) and the scientific entrepreneur is invited to present his idea to an audience consisting of VenGen Partners, members of the VenGen advisory board and people from the VenGen network. The VenGen advisory board consists of people who are widely experienced entrepreneurs, financial specialists and/or (medical) scientists.
The intake procedure is as follows:
After a first discussion of the business prospect, VenGen will undertakea first market and science scan. Some 2 to 4 weeks later, the scientific entrepreneur might presents the plan to the advisory board. A clear idea about the business concept, market position and direction of the future venture is crucial in this process.
If the business concept, scientific basis, intellectual property and market potential are considered promising, VenGen offers a single small cash investment in combination with entrepreneurial coaching.
The investment will be in the range of 10,000 euro. Coaching consists of assisting the start-up with the development of the business plan, identifying potential investors, building the management team, etc.
In this phase, VenGen and the start-up will work closely together. This has proven to be a very important stage in the process of creating a new venture. This not only involves building the framework for the company, but also establishing a solid relationship and mutual trust.
When the business plan is clear, the spin out process has been finalized and investors have been identified / assembled, the next phase commences. We see the starting of this phase as the real birth of the venture.
Business management becomes more and more important. Specific entrepreneurial skills and experiences are required. If all parties agree, VenGen will invest up to 50,000 euro in the new venture. Furthermore, when required, a suitable commercial entrepreneur from the VenGen network or the advisory board will be selected who will join the company and will be responsible for the business management. He or she must be in tune with the type of start-up and the people already involved. The involvement of the commercial entrepreneur might be part-time to start with. When the venture really starts to take off, this can be changed into a full-time position, upon approval of all the shareholders.