After an intense day of competition in London, a team of four budding biotechnology entrepreneurs from the University of Oxford have emerged as the winners of this year's Biotechnology Young Entrepreneurs Scheme (YES).
The winners of the 2011 Biotechnology Young Entrepreneurs Scheme (YES) competition are Ben Owens, Hannah Richards, Bonnie Murphy and Phillip Wulff from The University of Oxford.
The team pitched their plan for a hypothetical business called Metachem Solutions to a panel of investors. The panel were impressed by their idea for using yeast to produce high value fragrance components.
Minister for Universities and Science David Willetts said "I would like to congratulate the winners of the Biotechnology and Environment YES competitions on their success. Scientists who are able to combine their expertise with an understanding of business are a very precious resource. By learning how to translate research into wider successes, they can help ensure their work delivers the maximum benefits to society and the economy.
"I am impressed that the participants are taking the opportunity to develop their skills and knowledge at this early stage of their careers - it suggests a bright future for the commercialisation of UK research."
Biotechnology YES is annual business plan competition designed to raise awareness of commercialisation amongst bioscience postgraduate and postdoctoral researchers. The teams prepare a business plan for an imaginary company, generally based on hypothetical (but plausible) science. The team members assume the roles of directors of their company and seek funding for their business plan from a group of equity investors.
Biotechnology YES was developed and is delivered by a partnership between the University of Nottingham, Institute of Enterprise and Innovation (UNIEI) and the Biotechnology and Biological Sciences Research Council (BBSRC).
In the run up to the finals in L
|Contact: Mike Davies|
Biotechnology and Biological Sciences Research Council