Bioeconomy Accelerator Programme

Frequently Asked Questions:

PROGRAMME ELIGIBILITY QUESTIONS
COMPANY STAGE RELATED QUESTIONS
CEO PARTICIPATION AND PROGRAMME LEADER-RELATED QUESTIONS
PRINCIPAL ADVISOR AND EXPERT RESOURCES RELATED QUESTIONS
SELECTION CRITERIA RELATED QUESTIONS
GENERAL PROGRAMME RELATED QUESTIONS

BIOECONOMY ACCELERATOR PROGRAMME ELIGIBILITY QUESTIONS

Our company has received foreign research funding (i.e. World Health Organisation, United Nations, Bill & Melinda Gates Foundation). Are we eligible for the Bioeconomy Accelerator Programme?

Yes, companies that have received foreign research funding can apply and are eligible to complete the programme.

My company is a Private Limited Company, established in Malaysia (i.e. Sendirian Berhad). Are we eligible for admission into the Bioeconomy Accelerator Programme?

Yes. Malaysian Private Limited Companies are eligible to participate in the Bioeconomy Accelerator Programme.

COMPANY STAGE RELATED QUESTIONS

I have already closed rounds of equity financing, have a management team in place, am equipped with the tools to approach investors and partners and have products in the market. I am, however, looking for contacts with investors and partners. Does the Bioeconomy Accelerator Programme provide this and if it does, is it worth it for me to invest my time participating in the programme in entirety?

While business contacts are an inevitable part of the Bioeconomy Accelerator Programme asset base, the programme is not a business development program. It is a commercialisation assistance program. Ultimately, you make the decision about applying. If you feel that you are well equipped, and there is nothing more for you to learn, assess and evaluate, then that may mean that you opt not to apply to the programme. If, however, you believe that you are going to be in need of outside strategic (and tactical) advice and perspectives, and that you can benefit from the feedback from a network of industry experts, domain and functional professionals, then you might consider applying to Bioeconomy Accelerator Programme. We will not provide contacts to companies enrolled in Bioeconomy Accelerator Programme unless we believe that you are ready, have something useful and specific to offer a particular contact, and are able to follow through.

My company is advanced and has a defined commercialisation strategy which is progressing well. How can the Bioeconomy Accelerator Programme help me?

The Bioeconomy Accelerator Programme is a customised and customisable programme. The programme deliverables will enable you to focus on those objectives you still may need to achieve. Commercialisation, as is understood, is a long and continuing process. For e.g., how is the competition evolving? What are current trend to which you may be able to adapt? What are the (various) options available to you in light of market-based evidence, whether this be licencing, research collaboration, milestone development with a partner, strategic partnerships etc.? How are you managing this strategy and process internally? Do you have the requisite team? How are you validating your strategy? These and many other similar questions and concerns are addressed through your interaction with your advisor and Larta’s resources in Bioeconomy Accelerator Programme.

I am a university researcher with plans to commercialise my technology. Am I eligible to apply?

No. Only researchers who have already spun off a company designed to commercialise technology or research, and have an already operating company are eligible to apply. A company that may have a licence from a university granted to a researcher who is the founder or other significant part of the company is eligible. The programme is only open to private companies.

CEO PARTICIPATION AND Bioeconomy Accelerator Programme LEADER-RELATED QUESTIONS

I am aware that the Bioeconomy Accelerator Programme encourages the CEO serves as the programme leader, but the CEO cannot commit the time required by the Bioeconomy Accelerator Programme. Can I serve as the Programme leader instead?

We strongly encourage the CEO to participate as the Bioeconomy Accelerator Programme leader. This ensures that there is executive “buy-in” and commitment to the issues and decisions that may arise in the course of the Bioeconomy Accelerator Programme. However, should a circumstance arise that the CEO cannot be the Programme leader; a company may designate another person to fulfill this role. This person should still hold a senior management level position within the company with authority to take decisions and implement key strategies developed under the Bioeconomy Accelerator Programme. Furthermore, the CEO should keep abreast of the progress made with the Programme, including outcomes and the implementation of strategic ideas emerging from the Bioeconomy Accelerator Programme.

In the case of my company, the CEO is not the Bioeconomy Accelerator Programme leader. Does this impact my chances of getting selected for the Programme?

Selections for the Bioeconomy Accelerator Programme are decided irrespective of the Programme leader; however, CEO participation is highly encouraged and management team buy-in is a factor in the selection of participants.

PRINCIPAL ADVISOR AND EXPERT RESOURCES RELATED QUESTIONS

What kind of expertise do the Principal Advisors have?

Larta's Principal Advisors are experienced consultants and business executives with proven abilities in helping the growth of innovative enterprises in agricultural technology and bio-based industries. All of them have served in industry and have executive-level experience. Many of them have also served as consultants and advisors to large and small companies in the life sciences

Will the Principal Advisors conduct my market research, write my business plan, and create my other desired deliverables?

No. All participating companies are expected to work on and complete their own set of objectives and deliverables, such as writing a strategic plan, creating an investor pitch etc. In other words, your Principal Advisor and the Bioeconomy Accelerator Programme will not do the work for you, but will provide you the expert input and feedback and guidance to successfully complete such deliverables.

Who are expert resources, and what are their functions?

Expert resources are only available to companies that are selected for the U.S. Soft Landing. They are either directly from, or through referrals from, Larta's network of executives, service professionals and entrepreneurs. They have extensive domain knowledge and proven track records in fields such as regulatory design and management, reimbursement planning and implementation, organisation development and re-organisation, IP strategy, development and prosecution, corporate law, venture capital, angel capital, capitalisation and recapitalisation and marketing and public relations across multiple sub-sectors in agriculture and bio-based industries, including alternative energy (biofuels), biotech, medical devices etc. Many also possess functional expertise, including term sheet preparation and negotiation, valuation, accounting and forecasting, partnership negotiation etc.

SELECTION CRITERIA RELATED QUESTIONS

What are the criteria for selection to the Bioeconomy Accelerator Programme?

In addition to the profile of eligible applicants described earlier, selection and assignment for Bioeconomy Accelerator Programme will be made using the following combination of criteria.
Commercialisation Goals of Company:

• Clear, measurable, milestone-based commercial goals and strong likelihood of attaining commercial goals.
• Critical milestones achieved in anticipation of commercial entry, defined in conjunction with the normal trajectory of growth of commercial success.
• Progress to date in achieving commercial success
• Experience of the team or the principal contact at the Company
• Identification of potential relevant partners or investors

Extent to which you have worked with partners in commercialising your technology or product Business Case Strength:

• Clear articulation of your addressable market, and whether this is a "nice to have" or a "must have" product or service
• The underlying strength of this technology, as indicated by expressed interest by end-users and partners
• Alignment of your goals and outcomes with opportunities presented and acted upon, or expression of goals and outcomes consistent with commercial intent
• Identification of the obstacles, gaps and deficiencies and timeframe to resolve them.
• Available resources now and resources that may be needed downstream to fill gaps, accomplish goals

When a product or service is considered a "must have", i.e. that its need can be objectively assessed as unmet or incompletely addressed, its chances of success in the commercial marketplace are greater, and the greater its chances of selection.

GENERAL PROGRAMME RELATED QUESTIONS

What is the relationship between BiotechCorp and Larta Institute?

Larta Institute is a non-profit organisation that designs and manages commericialisation programmes around the globe. In Malaysia, Larta Institute offers this programme in partnership with BiotechCorp of Malaysia. You can learn more about Larta's work in this arena at www.larta.org.

I am nervous about the sensitive information I disclose in the Bioeconomy Accelerator Programme. How is this information used?

All Larta staff and Principal Advisors have signed confidentiality agreements before the commencement of the programme, which prohibit them from disclosing the information gained from the Bioeconomy Accelerator Programme to outside sources, except to the extent that you specifically authorise such disclosure. You are reminded about this and are advised about the issue of disclosure of confidential information repeatedly through the programme. The content you provide online is only accessible by you, your Principal Advisor, and Larta and BiotechCorp personnel involved in Bioeconomy Accelerator Programme.

Can more than one person participate in the programme?

More than one person from a company can participate in the programme; in fact it is expected that the Bioeconomy Accelerator Programme be a company-wide effort. However, only one person can be designated as the Bioeconomy Accelerator Programme leader, who is also the main contact. We strongly suggest that the CEO of the company fulfill this role. The Workshops are limited to the Programme leader; exceptions will be made on a case-by-case basis.

What will be the expected time commitment of the Bioeconomy Accelerator Programme leader?

Please review the timeline narrative provided in the overview of Bioeconomy Accelerator Programme, which provides an illustration of the programme flow. If selected, you are expected to attend the 2-day Kick-Off session in Malaysia (January 13 to 14, 2015) where you will be paired with a Principal Advisor. Thereafter, until September 2015, you will be meeting remotely through this period, you will also be required to attend or listen/review web-based seminar sessions/recordings and one (1) feedback session with industry and/or investment professionals.

In addition, the Bioeconomy Accelerator Programme leader should be prepared to put in some time on their own in developing business documents that will be developed under guidance of the Principal Advisors.

The programme was designed to provide as much strategic, actionable input to company principals, without imposing a burden on the day-to-day tasks of the Bioeconomy Accelerator Programme leader.