For some years now, increasingly more startups in the life sciences sector emerge at the KIT, such as Amcure, Incella, Acquifer, Corvolution, or recently 300Microns. In this area there are highly exciting projects that, through their immediate international focus, have larger growth opportunities than a classic startup but are much more complex and thus also more labor intensive in the design phase.
While a technical or IT-based startup is mainly oriented on the market, a successful life sciences startup must also always act in the scientific field. Only those which are present at conferences and verifiably document results that were generated with the startup technology in scientific publications are perceived in the academic market, which is often the entry market.
The scientific founders therefore often remain in the academic field rather than transferring into the management of the startup company completely, which is otherwise usual. As co-founders, they assist in the advisory panel, the so-called Advisory Board, with product development, shape the corporate strategy, and support the acquisition of customers through their academic network.
The financing of life science startups is also a particular challenge. When laboratory tests for product development or manufacturing are required, the young company is going to incur high costs. Here, the KIT can help by providing for the initial phase of the founding with fully equipped laboratory and office spaces in the KIT’s own high-tech incubator for moderate rental fees.
Last but not least, life science founders need a lot of stamina. Economic success arises much later for them due to the long phases of product development and approval, particularly in the clinical field. In comparison, non-technology-based startups can offer a different product or service on the market after a short startup phase.
Are you currently working on a technology from which a business idea can be developed? Are you toying with the idea of founding a company? Do you need advice on founding? Then use the offers of the KIT Founders Forge and make an appointment with the consultant team of the KIT Innovation Management – we support you in your startup projects.