Biotechnology YES Finals 2012
02 January 2013
Jane Wainwright acted as judge in the Grand Final of the annual Biotechnology YES Business Plan competition. The winners of the overall competition were Calvitium Solutions, for their business plan regarding a hair loss product. Potter Clarkson sponsored the Best IP Strategy prize for the competition and Jane was pleased to award the prize to a University of Manchester based team, Enzomax.
The team behind the ‘Calvitium Solutions' business idea scooped the £1,000 top prize in the annual contest by seeing off competition from 11 other teams to win with their idea for a hypothetical hair loss prevention product, which impressed a panel of expert judges from academia and industry.
Jane Wainwright said "The participants have to convey a lot of complex business ideas within a short space of time. The winning team were able to present the case for a desirable commercial product with a believable business model behind it. Everything that an investor would want to see was present in the winning plan."
"The winners of the Best IP strategy Prize, Enzomax, presented a well thought out Intellectual Property strategy that took into account key commercial factors, but their strategy stood out due to the inclusion of a realistic patent filing strategy to take advantage of the UK Patent Box tax relief scheme."
Biotechnology YES is an annual contest co-organised by the Biotechnology and Biological Sciences Research Council (BBSRC) and the University of Nottingham Institute for Enterprise and Innovation (UNIEI) that comprises several regional heats before culminating in the Grand Final held at the London Marriot Hotel County Hall.
The competition teaches doctoral students and postdoctoral researchers the skills to be able to prepare and present a business plan for a hypothetical business. The competition receives support from a broad spectrum of the scientific and business communities and also receives a ringing endorsement from the UK government.
Minister for Universities and Science David Willetts said: "The participants in this competition have shown that there is a bright future ahead for biological science. This is one of the most vibrant and increasingly important sectors of the UK. They are developing the skills needed to translate world class research into wider economic and social benefits."
Jane Wainwright also commented "I have been involved with the Biotechnology YES competition for a number of years and the standard of entries improves every year. All of the participants learn such a lot in such a short amount of time that they can all be proud of their efforts. The old adage of "It's not the winning but the taking part that counts" has never been more appropriate."
"I am sure we will see many of these budding entrepreneurs bringing real innovations to the world in the near future."