BIO-X provides a cost-effective industrial-like process to select, develop and tailor expert support for the very first steps on the road to fully-fledged marketable products. The nationwide program:
- Identifies needs in healthcare and society that can be met by life sciences product solutions
- Gives innovative ideas the best possible start on the road to commercialization
- Provides expert support tailored to create attractive investment opportunities
- Complements other publicly-funded programs and organizations
The BIO-X program follows industrial-standard selection and development models to ensure that funding and support goes to projects that possess the potential to meet high scientific, technical and industrial requirements, as well as clearly defined healthcare needs in terms of clinical utility, long-term patient value and cost-efficiency.
Tailored support from regional networks of clinicians, industrialists, business developers, lawyers and other relevant experts throughout the two-year project period ensures commercially viable outcomes.
Pre-defined needs and stringent project selection
Input from private and public organizations, as well as external experts, helps BIO-X identify needs that could be met by life science-based solutions.
With this specific theme in mind, researchers, healthcare workers and small enterprises nationwide are invited to submit project proposals for funding and support.
A stringent selection process identifies those proposals with the best potential of reaching a scientific, technical and commercial proof of concept. It is at this stage that the projects become attractive investment opportunities for investors and companies in Sweden as well as abroad.
Strengthened networks, increased commercial awareness
Access to potential industrial and clinical partners and networks is crucial for academia and vice versa. The BIO-X project selection process brings such parties together to exchange ideas and discuss opportunities – often leading to continued dialogue even if a project is not selected for funding. In addition to funding, selected projects continue to receive guidance and advice from a dedicated BIO-X coach and experienced project partners.
Attracting the life science industry
Since 2011, an agreement with the Roche EIN (Extending the Innovation Network) program gives BIO-X project applicants the opportunity to share their ideas with one of the world’s leading pharmaceutical companies. Roche’s commitment demonstrates the high regard it places on the quality of the BIO-X program and its processes.
Running in its current form since 2010, BIO-X now has a significant track record of completed projects that have led to commercially viable solutions.
Publicly-funded complementary program
BIO-X receives public funding from the European Regional Development Fund and VINNOVA (the Swedish Governmental Agency for Innovation Systems).
BIO-X acts as an integral part of the public innovation system. Since its development projects are always early phase, further support is needed when projects leave BIO-X. This can involve university and college holding companies, business incubators for start-ups, test beds and other services found within well-functioning innovation systems.