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1.To join or not to join
Why do I need BIOStartr?
BIOStartr allows you to get noticed, build credibility, network and obtain the resources you need to be great.
Do you need an investor to help you fund your new project?
We can connect you with investors.
Do you want to gauge your competitiveness?
Establishing a profile will place you in a professional network in which you can interact with other members and gain valuable recommendations for growing your business.
Are you looking for additional auxiliary support?
Our BIOStartr ecosystem provides you with additional service partners you may need to grow your business. Lawyers, Corporates and Incubators are among the partners we work with.
Let’s get started. Just put your best foot forward.
How much does it cost?
If you join now, our membership is complimentary for the first 30 Biotechs. This benefit for early adopters will end soon. When the number of 30 Biotechs is exceeded BIOStartr will charge Biotechs a single upfront payment of 5,000 Euros for a lifetime subscription. Is your idea just taking hold? If you cannot afford the payment we offer a BIOStartr free trial. Upon your satisfaction we will offer you a financing price of 1% of each Euro that are invested into your company.
To sum it up:
Option 1) A single upfront payment of 5,000 Euros for a lifetime subscription.
Option 2) A free trial, those happy with our services can then sign up with our easy financing option. 1% of the investment which came about as a result of the registration during the presentation and 24 months after the end of the presentation, or for each round of presentations („Performance Rate“).
Your payment includes a complimentary business plan check, a commercial check-up and digital flow management. Please feel free to contact our team with individual requests and support.
Who can use BIOStartr?
Anyone in Biotech and its related businesses! BIOStartr is for first-timers and established Biotech companies seeking fundraising for a specific project. Just create a profile and post your project. You’ll have more luck attracting investors if you communicate your goals to investors and make your idea easy to understand.
Our free of charge business services upon sign-up are designed to support and increase your selling power.
If you require additional help describing and making your Biotech idea understandable let our staff know, our team of experts provide additional services on a fee basis.
Will every Biotech project/idea be accepted and posted on to the BIOStartr website?
It is up to investors to decide whether your idea fits their investment habit.
However, BIOStartr will post all biotech applications as long as the comply with our terms and conditions.
Can BIOStartr be used to fund anything?
BIOStartr can be used to fund anything that is related to biotech. The digital age is creative. Products, gadgets, services, diagnostic tools, therapies…its all welcome.
How do I know that it works?
BIOStartr is a tool, a platform to your success. We can’t guarantee you will meet your celebrity crush but we will guide you to the road to success. We have partnered with professional investors from around the world and created a forum where the Biotech community comes together. Now you just have to get into action.
By the way, the platform works best for you, when your profile is attractive and understandable. Check out the BIOStartr guide and learn to make the sparks fly.
2. Profile Related Questions – how to be successful
How do I create an account?
Just follow the link you see at <<link description>>, and register with your e-mail and password. I the next step you can enter the name of your company. If you need any help visit biostartr.com/learn. At Biotechs get started we provide you with a BIOStartr crash course and go through the account creating process step-by-step. Check it out.
What do I write on my profile?
Don’t be modest, you’re an entrepreneur.
You believe your idea is great, that’s important. Now its time to convince an investor it is, too.
Convince an investor to sponsor you by telling your story. Share your dreams, write about your expertise, show your enthusiasm, talk about your hardship, impress with your plan.
Try to keep it simple so the non-scientist will understand. We know its hard and your audience often only remembers that „cell thing“ you work with—-but still, we are confident you will be able to articulate your idea.
The more appealing your profile is, the easier it will be to attract visitors. Be creative by using essays, stories, pictures, video, links to past projects or articles you’ve written. We’ve put together a crash course for you at biostartr.com/guide
If you have no idea at all how to start out, check out our exemplary project “Your future project” in the “Others” category. This might help.
How do I start a project?
Once you have created a company profile just let the world know which project you need funding for. Explain your project in detail, set your investment goals and tell investors how you plan to move forward. Additionally, you should include relevant documents that investors will need to determine how promising your project is. This information can be uploaded onto our site and will streamline the nondisclosure agreement process between investors and biotechs. More information about this unique feature will be discussed in the FAQ Question on the subject.
Can I have multiple projects at once?
Of course. We understand that young start-ups don’t always like to have their eggs in one basket.
I have an idea but not a business plan. Can BIOStartr help?
We provide a free commercial check-up and digital flow management upon creating an account. Beyond that we offer additional fee-based consulting services.
My project is asking me what stage I am on. What are the milestones?
The milestones are a tool that communicate to investors, incubators and partners what degree of assistance you will be needing.
The scientific concept and the product idea are being validated in the lab in order to identify product candidates.
A product candidate is being thoroughly tested. In the biomedical field for example, initiation of preclinical testing of a drug candidate and planning of phase 1 clinical trials.
- Proof of Concept
In this stage you are quite sure that your product or whatever is working the way you want but you have to proof it.
- Seed Stage
Your idea is basically proven but there is still so much to do…at this stage you need money to grow your business.
- Early Stage
- Later Stage
How do I attract investors?
In order to attract investors it is best to present your project simply. Investors also expect companies to know their financial numbers. You should be prepared to provide honest and accurate numbers promptly. This is why we provide every project private space for their financial and business documents. Uploading your documents allows us to streamline the financing process. With your prior approval, an interested investor will receive your business documents within hours of his request. Only investors that have signed nondisclosure agreements are eligible to request documents.
What is the “Investor pick”?
Our team of experts picks out a promising project that deserves a little extra attention. As the Investor pick your project will be featured in our newsletters and throughout the site and capture the attention of many investors and partners.
How do I delete my profile or project?
If you’re not longer interested in being part of the BIOStartr ecosystem and want to delete your whole profile you have to contact the BIOStartr team. We will perform the deletion for you. The same applies for your projects. If one of your projects should disappear from our platform, please contact us.
3. Services, Documents and Security
Are my business and financial documents in good hands?
All investors on BIOStartr are professionals and have been individually approved by the BIOStartr team. Investors will have to sign non-disclosure agreements prior to accessing your uploaded documents. They will need your business and financial documents in order to determine if they are interested in making a financial commitment. Help them help you by providing honest and accurate documents.
What documents should be uploaded?
Business/Project Plan – A business plan details the direction that you are leading your company or project.
Pitch Deck- A pitch deck is an important communication tool for future investors and aids the investor in deciding whether to seek a business relationship with you.
Confidential Information Memorandum- A document usually presented when you want to sell a business, but that will be of worth for investors as it provides information on the health and future of a company. It includes a description of the business and its operations, a summary of the industry and opportunities, financial information and proposed deals to investors. company history. key individuals,
Profit and Loss Account/Income Statement -A financial statement that shows the company’s revenue and expenses during a particular period.The purpose is to show managers and investors whether the company has made or lost money during the period reported.
Balance Sheet- Made of three parts: assets, liabilities and ownership equity as of a specific date. For investors this is an important document for them to see your financial condition.
What is digital deal flow management?
The rate and management of business proposals and investment offers. At BIOStartr we help increase your stream of offers and opportunities. We also give you the opportunity to connect with more investors “over the transom” – or without a referral .
What is a commercial check-up?
This is one of the services that we provide at no charge as a bonus upon sign-up. Is your product/idea marketable? How tough is your competition? Are you likely reaching your target investor? Our commercial check-ups which are prepared by a team of experienced consultants will provide you with the answers to questions like these and give you an idea on areas that need improvement.
What is a free business plan check?
First off, a business plan is draft and serves as the first step in organizing your thoughts for your business. An effective business plan urges an investor to act and includes a company summary and analysis. Once you register, your business plan will be reviewed for such characteristics. Please consider that we will need a serious draft of your business plan for review – The creative process of writing still is in your hands.
Why do I need those things?
Its hard to think of everything at once. We want to simplify your search for Investors and assist you on the way. You might have noticed already – At BIOStartr your life is made a bit easier.
4. Concerns a biotech may have
What information can investors see?
Just what you have made public on your profile. All of the other information you provide to us, such as business plan or financial statements, remain strictly confidential. BIOStartr will not share your information with a third party.
How secure is my uploaded data?
Your documents will be handled with discretion. Once your documents are uploaded they will not remain on our online server. You can be assured that we will not share your data with any third party. Your documents are solely utilized and accessed as a part of the free services we offer: business plan, commercial check-up and digital deal flow management. As part of the service we offer, investors are able to request your business documents for purposes of determining their investor interest, however, we will not forward your documents unless we have your utmost allowance.
Can anyone see my uploaded data?
Definitely not. Your documents are not made public or shared without permission. Only interested investors are able to request to see your documents. Only the documents that you have priorly approved will be forwarded to investors. When uploading your documents state clearly which you are comfortable sharing with investors. The more documents you share, the more an investor can gauge if you are a good fit for each other.
Who decides who can see my data?
You do. As we mentioned before, your data remains private. We will not share your data without your permission.
When will I be successful?
We don’t know the answer to this question…because we are unable to tell the future, like most people. We also don’t want to define success for you, as this is very personal. BIOStartr does want to be your companion for every step of your business development. We don’t think in terms of short-term success and your probably shouldn’t either. The sky is the limit…or rather intergalactic space. If your project was unable to attract investor attention, examine your business documents, and update your profile.
Is there a maximum duration of my project?
No, your project will remain on the BIOStartr site. It is to your advantage to update your project and profile page periodically. Read more about the stages of biotech development in our FAQ on milestones here in the Biotech section.
I haven’t gotten any hits on BIOStartr yet. What should I do?
The first step is to analyze your profile and business plan.
Have you uploaded any of your material? Have you made your idea more approachable?Research has shown that illustrations or a video or telling can make your ideas more tangible.