Bio entrepreneurship can be loosely defined as “the integrated activity that creates, develops and brings to the market biology related products”. Bio entrepreneurship encompasses areas dealing with biofuels, pharmaceuticals, nutraceuticals, medical diagnostics, devices and applications, conservation and the environment and areas that relate to genetics and genomics. A bio entrepreneur is consequently an actor who starts a business in this cluster to create value for themselves and the society.
A number of challenges beset a bio entrepreneur compared to other types of entrepreneurs. Bio based businesses for example take a long time to incubate, require significantly more capital and have to comply with a lot of legal and regulatory hurdles. If these challenges are not successfully navigated a startup is definitely bound to fail.
Science Inc. is a virtual bioscience incubator set up to help early stage bioscience businesses to understand and navigate three (3) core areas:
- Research and product development
- Business development
- Regulations and patenting
Research and Development
Most successful bioscience driven businesses have a product at their core. Science Inc will help early stage startups assess their products / ideas analytically so that they weigh the cost / benefit aspects of developing their projects further. In addition, we will help shed light on the science involved in their product / idea. Science Inc. will also match budding entrepreneurs with accomplished mentors who will offer them advise on critical issues.
Science Inc. offers training to bio based businesses on how to register a business in Zimbabwe, what it means to be a bio-entrepreneur and the basics of finance and marketing. Science Inc. will also match entrepreneurs with venture capitalists and other sources of financing for their ideas.
Regulation and patenting
For a product to be accepted in the bioscience space a lot of regulations and legalities have to be complied with. Science Inc. will help entrepreneurs understand the regulatory environment in Zimbabwe and abroad. In addition, Science Inc. will help entrepreneurs understand the role and need of patenting their ideas and innovations.
To be considered for our services you need to apply here