News

Durham scientists in running for entrepreneurship prize

(10 December 2009)

A team of bioscientists from Durham University has made it through regional heats to take part in the final of a national competition that rewards exceptional entrepreneurial skills.

On 14 December they will pitch their idea for a hypothetical company to a panel of investors at the final of the annual Biotechnology Young Entrepreneurs Scheme (Biotechnology YES) competition, held at One Whitehall Place, London. The competition, run by the Biotechnology and Biological Sciences Research Council (BBSRC) and the University of Nottingham Institute for Enterprise and Innovation (UNIEI) has given the Durham University team the opportunity to develop their skills in marketing, finance and intellectual property. They will pitch as though seeking investment in their hypothetical company "Epidene", which has developed a product called Tatene,a tattoo removal cream which uses a naturally-occurring plant protein to bind tattoo pigments. When applied, it facilitates the removal of the pigment as part of the natural skin cycle. The tattoo is removed completely within six weeks, without pain or scarring. The team is made up of research postgraduates David Lundy from Washington, Andrew Landsbury from South Shields, Clare Foster from Leeds, and Jonathan Foster from Durham. The team is competing against 13 other teams and if they win over the panel they stand to win the Biotechnology YES 2009 title, £1000 prize money, tickets to the Bioindustry Association gala dinner and the chance to present their hypothetical product at the Rice Business Plan Competition in Houston, Texas. Team member, Jonathan said: “I’d describe Biotechnology YES as being a mixture of The Apprentice and Dragons’ Den... for Biologists! As scientists we’ve found it extremely valuable to learn the entrepreneurial skills required for turning a scientific finding into a business success. “We’ve worked really hard on our pitch and it would be amazing to win the chance to go to America and to meet yet more inspiring people. I’d like to think that one day we’ll be doing this for real!” Dr Celia Caulcott, BBSRC Director of Innovation and Skills added: “The teams have done incredibly well to get this far. They are already demonstrating the essential skills in finance, marketing and intellectual property they need in order to push a real life product through from research to commercial reality. In the UK we have unrivalled talent in biosciences and we must ensure that the impact of such excellent talent is realised through any potential social and economic benefits from their research. These early-career researchers are standing in an excellent position from which to do this in the future. We wish all the finalists the best of luck on Monday.” Biotechnology YES is an annual competition, now in its 14th year, that aims to help the UK’s young bioscientists gain the skills and understanding needed to turn research into commercial reality. Through regional heats across the UK, young scientists competed for places in the final, mentored by a team of advisors including financiers, intellectual property experts and spin-out company heads. MEDIA COVERAGE INCLUDES:

• Northern Echo