Scientists from the University of Glasgow have been named as the best potential biotechnology entrepreneurs after winning the 10th Anniversary final of a national business plan competition in London. The competition, Biotechnology Young Entrepreneurs Scheme (Biotechnology YES), is held annually to help young researchers to understand how to set up their own biotech company.

The Glasgow scientists walked away with a prize of £1, 000, sponsored places at the BioIndustry Association Dinner and the opportunity, provided by the Department of Trade and Industry, to give a presentation at a prestigious US business plan competition at Rice University in Texas. Their hypothetical business plan was a company called Biochiral Ltd. Its plan was to develop provide chiral amino acids as the basis for drugs with greater safety and efficacy in a cost-effective and environmentally friendly process. The team competed against seven other teams in the final.

Adrienne Edkins, Managing Director of the winning team said: "We are tremendously happy to have won. We are very grateful to Biotechnology YES for the opportunity to be part of such a valuable experience. We would also like to acknowledge the support of the Institute of Biomedical and Life Sciences at the University of Glasgow. The team is looking forward to representing Biotechnology YES in the United States next year."

The final marked a decade of success for Biotechnology YES, which is organised by the Biotechnology and Biological Sciences Research Council (BBSRC) and University of Nottingham Institute for Enterprise and Innovation (UNIEI). It helps young scientists develop business awareness and an understanding of the skills needed to become a successful biotechnology entrepreneurs. The teams were selected for the final in regional heats and had to present a business plan for an imaginary biotech company to a panel of expert judges acting as venture capitalists.

Dr Peter Ringrose, Chairman of BBSRC and head of the judging panel said:"Over the last 10 years the quality of entries for Biotechnology YES has never failed to impress me. This year continued this excellent trend and the judges were hugely impressed with all the teams' presentations, preparations and business plans. In particular the Biochiral team showed a first-rate grasp of the principles of finance, marketing and intellectual property and demonstrated the attributes needed to be a success should they decide to set up their own biotech company."

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Further details on BBSRC can be found at: BBSRC website.

First published: 16 December 2005