Lund, Sweden – The life science industry is Sweden's second-largest export sector. Success in this field relies on innovation and entrepreneurship; however, not all companies in the industry reach their full potential. SmiLe and Medicon Village aim to change this with the 10XHEALTH program, designed to equip established life science companies with the skills needed to accelerate their growth and thereby contribute to strengthening the life science industry in Skåne. The program kicks off with a pilot in January 2024.
For almost 16 years, SmiLe Incubator in Lund has been running an incubation program for startup companies focused on life science. In close collaboration with Medicon Village, SmiLe is now expanding its activities with the scaleup program, initially run for three years, to assist established, innovative life science companies in the region in taking the next step towards a faster and stronger market impact.
"We currently provide comprehensive support for early-stage life science companies through our successful incubation program, and we also run training programs for aspiring entrepreneurs. With 10XHEALTH, we are expanding and improving our support for both our alumni companies and other established life science companies in southern Sweden that are in the growth phase," says Ebba Fåhraeus, CEO of SmiLe Incubator.
"This initiative is a crucial part of strengthening the region's position as one of the most dynamic and expansive in life science in Sweden. It is intended to contribute to our ability to attract and retain successful companies here as role models for the life science sector, including areas such as ATMP," says Petter Hartman, CEO of Medicon Village Innovation.
The new 10XHEALTH program is tailored to the specific needs of innovative scaleups in life science in southern Sweden (Skåne and Blekinge), including areas such as business acumen, financing, internationalization, organization, and effective leadership. The one-year program consists of nine modules, each comprising a full day of lectures and workshops at Medicon Village, followed by individually tailored follow-ups with participating companies. Modules are led by experts in their respective fields, with support from SmiLe Incubator and Medicon Village Innovation's experienced staff and coaches.
Similar programs are established in countries such as the USA and the UK but are relatively new in a Swedish context. The ambition with 10XHEALTH is to expand the reach in the coming years and also invite life science companies from other parts of the country.
The seven companies from Skåne selected to participate in the pilot starting in January are Iconovo, Neola Medical, Uman Sense, Paindrainer, NanoEcho, Pila Pharma, and Cyxone.
The 10XHEALTH program is partially funded by the European Regional Development Fund.
For more information:
Ebba Fåhraeus, CEO, SmiLe Incubator, +46 73 400 04 33
Petter Hartman, CEO, Medicon Village Innovation AB, +46 73 909 63 76
About Medicon Village:
Medicon Village life science park is the natural hub for research and business dedicated to life science in Southern Sweden. By facilitating cross-border collaborations, conditions are created for medical advancements to provide more people with a healthier and more prosperous life. At Medicon Village, founded in 2012, over 2,800 individuals work in more than 180 companies and organizations. The property operations are managed by Medicon Village Fastighets AB, and the innovation activities are overseen by Medicon Village Innovation AB. Both companies are wholly owned by the "Mats Paulsson Foundation for Research, Innovation, and Societal Development". www.mediconvillage.se
SmiLe Incubator is a life science business incubator based in Medicon Village in Lund, Sweden. SmiLe offers business coaching, a broad international industry and investor network and a unique laboratory infrastructure with state-of-the art instrumentation. Since the start, SmiLe has helped 100+ entrepreneurs commercialize their business ideas. Currently there are some 30 companies in SmiLe incubator which, together with alumni companies, have attracted more than EUR 805 million in venture capital since 2014. To date, 21 of SmiLe´s companies have launched an IPO. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Høiberg, Magle Chemoswed, Merck, Setterwalls, Zacco, Phase Holographic Imaging and ChemoMetec. www.smileincubator.life