PAXIS European Innovation Workshop

1. BIO-LINK PROJECTLinking bioincubators to enhance startup creation & development towards a best practice incubation model for EuropeNigel WildCoordinator PAXIS European Innovation Workshop Edinburgh 5-7 October 2005

2. BIO-LINK’S GOAL Linking bio-incubators to enhance start-up creation and development in Europe by offering a scheme of co-incubation to biotech companies and designing a toolkit for Best Incubation Practice (BIP)

3. PARTNER ORGANISATIONS Bio-Link partner incubators: • Bio-M AG (Munich, Germany) • Genopole (Evry, France) • Hadasit (Jerusalem, Israel) • Oxfordshire BiotechNet Ltd (Oxford, UK) • Polaris Consorzio 21 (Cagliari, Sardinia) Project coordinator: Mr. Nigel Wild, Oxfordshire BiotechNet Ltd., UK Scientific Advice and Guidance: Cardiff University, UK (UWC) Jerusalem Institute for Israel Studies, Israel (JIIS) Technology Advisor: Dr. Avri Havron – Operon Consultants Ltd., Israel

4. MAIN RESULTS • Co-incubation scheme designed and tested on 32 companies • Five management seminars held across Europe and Israel • Highly successful roadshow in Paris with 15 companies presenting to one another and meeting each other • Produced Best Incubation Practice Toolkit • The UWC/JIIS report ‘Comparative Incubation Models’ was published in the Journal of Technology Transfer • Results widely disseminated to European and US biotech community

5. INTANGIBLE RESULTS • We learned an enormous amount about biotech incubation and biotechnology in other European and US locations and different business models • Our network expanded considerably, not only by our direct efforts, but because of interest in Bio-Link by outside parties, our ‘second-circle’

6. EUROPEAN AND PARTICIPANT ADDED VALUE • SME biotechs are small, fragmented, in a volatile industry, tend to be insular. Need for internationalisation, increased networking, consolidated approach, faster growth, sustainability. Bio-Link has demonstrated a new route to achieve those needs, transferable to other hi-tech fields • We are all top-level incubators, strongly networked, but combining together on a project like this really concentrated our learning about each other, biotech incubation in Europe and the different problems we all face. • Our networks widened exponentially • Everyone thought CI would be easy and that companies would clamour to take part; it was not like that. The time and effort required to achieve small steps was surprising.

7. BEST PRACTICE – CO-INCUBATION (CI) • A novel methodology that touches all areas of incubation • Provides a good route to faster growth and better sustainability • It is a long process and the results can be long-term; better suited to more mature companies and service companies • Can be used in hi-tech fields other than biotech

8. BEST PRACTICE – CO-INCUBATION (CI) • It is not easy to persuade companies to take part in CI and needs a dedicated CI manager and plenty of time to achieve results. It suits more established and service companies better than fledglings • Companies need to see and experience the improvements CI can make to appreciate the benefits • Over time, the impacts can be strong

9. BEST PRACTICE - SEMINARS • By choosing the right speakers, subjects and locations, one-day seminars can broaden the knowledge and skills of incubator managers, portfolio companies and the business communities associated with incubators • Seminars provide excellent networking • Can be used in any business discipline • The challenge in an international setting is choosing and confirming the right speakers, selecting the right subjects and arranging a programme remotely, especially if the seminar is held at a location outside parent incubators. It takes time and attention to detail.

10. BEST PRACTICE - ROADSHOWS • Roadshows are one-day events where selected companies present to one another and meet one another face-to-face • Guests include government, regulatory authorities, big companies, VCs • It achieves concentrated, focused, pertinent networking for SMEs • Roadshows can be used by any discipline

11. BEST PRACTICE - ROADSHOWS • The challenges are making CEOs aware of the benefits and persuading them to attend, providing some travel budget for cash-poor SMEs and ensuring that guests attend that can provide direct advice to companies. • Organising such an event takes effort • It is essential to have 12-15 companies and run a tight programme • The impact is immediate, an eye-opener for some CEOs. Our roadshow resulted in requests for more roadshows and rapid follow-ups post roadshow

12. BEST PRACTICE – BIP TOOLKIT • Best Practice adoption is widely used and can obviate repetition of the same mistakes • BP arises from the experiences of projects like Bio-Link • BP is easy to disseminate by reports, visits, assistance or consultancy • True adoption of BP results in better performance • BP can be used in any field. Our BIP is transferable to other hi-tech disciplines • The challenge is to ensure wide dissemination • The benefits are performance improvements in the long term

13. SUMMARY • Bio-Link has taken a novel concept and tested it on real companies • We have proved and demonstrated its advantages • We have discovered its problems and difficulties – time, dedicated manager, applicability to certain types of companies • Where SMEs need to meet, there must be budget for travel • Our learning has reinforced existing BPs and discovered new ones • Bio-Link want to extend the study into BizBioLink, a new project, with an emphasis on financing

14. QUESTIONS? www.biolink.org.il