It’s been a busy month for Startups Meet Pharma. Following the selection of the 16 startups taking part in this year’s programme, on 29 June we officially kicked off with Module 1.
The first part of the programme is focussing on workshops on various topics including market access and reimbursement, medical regulatory paths, business modelling, pitch training for different target audiences (VC/industry), etc. All together, the 16 startups were provided with 5 intense days of trainings, 7 different workshops and countless homeworks. During the first day, we had of pleasure of having Mathias Falcenberg, the Lead of new business development at Merck KGaA, who held a lecture on Finance and Fundraising & Deal and Product Valuation. The second day, we organised two workshops for the teams, Medical Regulation Paths delivered by Oliver Hilgers and Market Access and Reimbursement hosted by Meike Bomhof. Having in mind that market access is a complex discipline, our workshop covered the topics of reimbursement, payment mechanisms, innovation payment schemes, funding and willingness to pay, role of clinical and economic evidence, health technology assessment, stakeholder engagement and reimbursement pathways. Additionally, understanding the challenges of meeting regulatory requirements and maintaining quality management systems, our speaker Oliver walked out startups through the procedure from submission to approval. On the third day, startup were introduced to the concept of Competitive Benchmarking, Positioning and Differentiation by Raj Airey, partner at Convergence Partners. In the afternoon, business and personal development consultant Keren Beit Cohen gave a workshop on the 3P model. Thursday, 2 July 2020 was reserved for USP and Value Proposition tailoring for Module 2 and Paul Hughes, did a great job in inspiring the startups to act and shift to their next level of growth.
This week we are continuing with Module 2, which is designed as 1-to-1 workshops with our pharma partners: Amgen, Bayer, Beiersdorf and Boehringer Ingelheim. During this part of the programme, the startups meet the representatives from the pharma companies, according to the challenge they applied for. All of the startups will be given the opportunity to pitch their solutions to the pharma companies, who will in turn, help them develop & validate their business concepts and provide them with critical feedback on their development plans.
The next stage of the programme involves even deeper interaction with the pharma companies and possible discussion of collaboration opportunities. Originally set to take place in September 2020, in the premises of the pharma companies, due to the current situation, Module 3 – roadshows is shifted online.