"Best of Biotech" 2014 – the seventh round of the international business plan competition starts

Today the international life science business plan competition "Best of Biotech" heads into the next round. For Edeltraud Stiftinger, director of Austria Wirtschaftsservice (aws), organizer of the competition, "researchers and students with an innovative business idea in the biotechnology and medical technology industries are in the right place here. 

At "Best of Biotech" they can develop a viable concept from an initial business idea and win attractive prizes." Cash prizes totalling 44,500 euros, sponsored by the companies Roche, Binder Grösswang, ARGE LISAvienna and AFFiRiS await the best ideas and business plans. Other sponsors are Erber Group and Standortagentur Tirol. The new, improved website makes the competition even more attractive. Using online videos, participants can report on all aspects of their business plan and the company launch. The online submission tool makes it easy for anyone from around the world to take part. Join up and make a submission: www.bestofbiotech.at

An international competition in two phases
Best of Biotech is the only international business plan competition in the life science industry. To do justice to the international character of the scene, the competition is conducted completely in English and life science projects from all over the world are invited to make a submission. In the initial phase of the competition (02/06/2014 to 26/11/2014), participants can submit their business ideas. Prizes of 1,500 euros each await the best three ideas. The award ceremony for the three best ideas is sponsored exclusively by Erber Group. A comprehensive business plan is the goal of the second phase (28/11/2014 to 06/05/2015). During the competition candidates will receive intensive feedback on their ideas. Experts from the fields of industry, finance and science evaluate the submitted ideas and together with the participants work out a viable business plan - the foundation for every new business. An international jury will judge the best business plans and the best three have the chance to win up to 15,000 euros in prize money. Cooperation with Austria's neighboring countries is of particular importance here. The competition is organized in cooperation with partners from Italy, Poland, the Czech Republic and Hungary. The goal of the competition organized by aws on behalf of the Federal Ministry of Science, Research and Economy is to give the Austrian life science industry a new start-up impetus: ideas with commercial potential are tracked down and entrepreneurial talents in research are given the best possible support.

10,000 euros for the best medical technology business plan
Medical technology is proving to be a particularly dynamic growth sector and considerable economic factor within the life sciences. In order to give this core competency more visibility, once more there is a special prize for the best medical technology business plan. The "LISAvienna Medtech Award" worth 10,000 euros is sponsored by the cluster initiative ARGE LISAvienna. Balance sheet so far: more than 250,000 euros in prize money – 80 start-ups The innovation power of "Best of Biotech" is impressive: from the previous rounds of the competition, 80 start-ups have emerged from the 323 projects submitted.  

About Austria Wirtschaftsservice GmbH (aws):
Austria Wirtschaftsservice GmbH (aws) is Austria's government promotional bank. As a specialist bank under public ownership it is geared towards corporate finance with a focus on "start-ups" and "growth and industry". Through the issuance of guarantees, through equity, through the awarding of grants, low-interest loans and through coaching and consulting, around 6,000 companies were supported in 2013.

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