The 1st stage of the Biotechnology Entrepreneurial Competition (BEC) Program was completed by the roundtable, which was held on 15 December 2005 in I.M. Sechenov Moscow Medical Academy. The BEC was started in August 2005 with the support of BioIndustry Initiative Program of the US State Department (BII) and the US Civilian Research & Development Foundation (CRDF). The BEC is being performed by Non Commercial Partnership “Center of Modern Medical Technology”TEMPO”.
The competition is aimed to identify prospective innovation ideas in biotechnology and biomedicine on development of biotech and biopharmaceutical products.
The independent Corporative Commission, that include the representatives of American and European venture companies, as well as Russian and foreign biotech companies, leading scientists, identified 20 semifinalists. As a whole, 50 applications were submitted from TEMPO member organizations and organizations, having joint project with TEMPO institutions, to the competition program. Later the semifinalists will continue the work on development of business plans together with students of Economic Faculties of Moscow and Novosibirsk State Universities and St. Petersburg State Technical University. The business plans will be presented to potential investors in February 2006.
The following speakers attended the roundtable: N. Bakh, consultant on US business development, AmBAR member (“Business development”), I. Krasilnikov, Deputy Director of Medico-technology holding, AFK “System” (Organization of production of pharmaceuticals in according to GMP standards”), V. Lazarev, Deputy Director, Moscow City Innovation and High-Tech Center (“What is the Center?”), Yu. Remnev, Deputy Director, NP TEMPO (“Current results of the BEC”), A. Golikov, Director, Biotechnology Information Center, V. Sidorenko, Head of Young Scientists Council, Economic Faculty of Moscow State University (“How to write the business plan?”).
The next stage of the BEC will be to set up “the creative team”, that includes students-economists and scientists (principle investigators). Yuri Remnev, Deputy Director of NP TEMPO, outlines that “the competition aims not only teach the scientists in developing their ideas, that would be attractive for Russian and foreign investors, but also show the prospective of biotechnology in Russia for young generation of economists
The business plans will be presented to potential investors in February 2006. 20 Semifinalists will be invited to the meeting with potential investors from Russian and abroad; there they will be making short presentations of their projects. The part of semifinalists will attend the international biotechnology exhibition “BIO2006” in Chicago, USA, in April. Two winners of the competition will be announced in April.