Bioemprenda fosters new biotechs

Cierval and the Consellería de Industria recently held a contest designed to support new biotechnology companies in the province of Valencia. The percentage of GDP invested in the biotechnology sector in the Valencia region is far below the national average, with the majority of investment concentrated in Catalonia and Madrid. A panel of judges selected five finalists from a total of 40 projects: Pharming, Aquazoe, Innoffod, Recuperación Vegetal and Star Cell. The entrepreneurs who run the selected companies were assessed and given special training on setting up and managing a biotech company, as well as having the opportunity to meet venture capital firms including Gilde Biotech Fund, Najeti Espana, talde and Apax Partners. The contest, sponsored by Natraceutical, was won by Pharming SL which was awarded a prize of €3,000. At the event, José Monzonís, managing director of Industria e Investigación Aplicada, affirmed that the private sector should be helping to set up these businesses, rather than them being financed through subsidies and grants.

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• Topics
• Southern Europe