What is Bioscience YES?
The Bioscience YES (Young Entrepreneurs Scheme) - Yorkshire and Humber is an innovative competition developed to raise awareness of the commercialisation of bioscience ideas among postgraduate students/postdoctoral scientists working at Universities in the Yorkshire and Humberside region.
This is a competition which is based on the national scheme Biotechnology YES organised by the UNIEI and the BBSRC.
The competition is promoted and funded by Yorkshire Forward and aims to encourage an entrepreneurial culture in the bioscience postgraduate and postdoctoral research community for the benefit of the regional and national economy.
What does it involve?
The competition is run over three days (Wednesday - Friday). In the morning of the first two days participants, grouped into teams of four to five members, attend presentations from leading figures in the biotech industry in the Yorkshire and Humber region on all aspects of technology transfer and the commercialisation of bioscience ideas.
Topics covered include:
- The Requirements of a Business Plan
- Intellectual Property and Patenting Strategy
- Raising and Managing Finance
- Commercial and Marketing Strategies
- Case Histories
This knowledge is then utilised by participants to prepare an oral business plan presentation for an "imaginary" biotech start-up company. The plan is prepared by the team, in the afternoon of the first two days, with each member assuming a different role within the company (e.g. Managing, Finance, Research and Development, Marketing or Operations Director).
On the final day the participants make a formal oral presentation of their business plan before a panel comprised of business, financial and academic representatives taking the role of venture capitalists. Two teams from each workshop are selected to progress through to the Final.
Winners of the competition receive £1000, with other prizes also available.