Thursday, March 8, 2012

Catapult: a business formation competition

Calling all life science entrepreneurs:

Catapult is a business formation competition where aspiring leadership teams have the opportunity to found a company from the ground up. The challenge? Taking key technologies and proposing the most effective ways to successfully bring them to market. The entire process is guided by a panel of industry experts.

Catapult yourself today. All it takes is the right experience, some ingenuity and initiative.

Here's some additional information about Catapult:

Catapult is unlike any traditional business model competition. Instead of merely competing for a cash prize, your team has the opportunity to found and manage a new company of your own if your winning model meets our judges’ standards. Catapult has been created for motivated individuals who are looking to use their ideas and energy to take the next step and form a business that will commercialize key technologies that have been vetted by industry experts.

Catapult launches companies founded on the basis of a license to life science integrated technology that has been pre-sourced and vetted by industry experts. Catapult competitions typically have multiple technology offerings, and oftentimes, a single technology can support more than one new business through multiple products or services in diverse markets. Catapult will not recommend that competing businesses be founded. The number of companies started out of any single competition is dependent upon the quality of the entrants’ business models and the experience of the teams.

Catapult advances latent streamline technologies that allow for entry into alternative, non-human/non-drug markets. Our strategy dictates that a technology should have a mixture of different degrees of the following characteristics: (i) life science integration, (ii) a primary asset entering markets with low or no regulatory hurdles, (iii) a secondary downstream asset with potential for entry into regulated markets, (iv) low capital requirements for startup and technology development, (v) recurring revenue potential within one year, (vi) product & service potential.

The winning team or teams will receive a license for the relevant technologies and appropriate seed funding for their new company. The terms and duration of any licensing agreement will vary based on relevant factors such as the business model proposed and the industry in which the technology will be deployed.

Learn more about Catapult here.

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