Aitua Ltd: translating technologies into investment-ready propositions
Realising the potential offered by new biotechnologies, whether derived from the Babraham Institute or by external innovators, is an extended process involving timescales and multiple funding rounds that militates against early investment. The investment community increasingly requires exemplified biotechnologies with strong teams and business strategies before they will commit to funding. If advances in biomedical sciences are to be translated into exciting new bioventures, a new form of support infrastructure is required to accelerate the maturation process in order to generate complete investment packages.
In 2003 BBT built on the success of the Babraham Bioincubator by establishing the Babraham BioConcepts Project, a technology accelerator. BioConcepts worked with innovators to help catalyse and sustain the translation of new technologies into commercial reality. It accelerated translation in parallel with developing commercially-viable business models as investment-ready propositions.
The BioConcepts' mission was directed towards managing the inherent risk associated with start-up bioventures.
In June 2006 BBT established what was to become Aitua Ltd as a joint venture with Avlar BioVentures LLP. Aitua is an hands-on investment vehicle focussed on funding and supporting exciting new bioventures. At the same time BBT launched its Technology Development Laboratory which complements Aitua by providing scientific and technology mentoring, office and fully equipped laboratory accommodation plus access to development scientists to catalyse the delivery of timely exemplification of new technologies. Through BBT all the scientific and technical resources on the Babraham Research Campus are available, including Babraham's analytical, bioscience and administrative services. Aitua's link to these services is unique and differentiates Babraham BioConcepts from other UK business incubators which strive to support start-up bioventures.
Following on from the success of this project Babraham BioConcepts Ltd was founded June 2006 as a joint venture with Avlar bioventures. The new company will continue to work closely with entrepreneurs and scientists to create and nurture emerging bioventures but it will also provide seed and early round funding, inject specific expertise and access to facilities to provide momentum so enabling companies to "get off the ground". A unique offering designed to lower the barriers to forming high quality, early stage companies.
BBT's investment in the Technology Development Laboratory reduces resource spend on infrastructure enabling cash to be focussed on delivering the new business