SmiLe Incubator and Medicon Village in Lund join forces in a new initiative to create better conditions for growth in young companies focused on life science. Through a new development program, innovative scale-ups will be offered support in areas that are particularly important for companies in the growth phase. The idea is to reinforce the strong trend within the life science sector in the southernmost part of Sweden, where approximately a hundred companies have been started and added 1,500 new jobs since 2015.
Since the start in 2012, Medicon Village has developed into Scandinavias’ largest science park with focus on life science. Through SmiLe Incubator, among others, startups have been offered a comprehensive support in validating, verifying and developing their business ideas. Once the companies have left the incubator program, however, there has been a lack of a dedicated program for growth, addressing the specific needs that arise when the companies want to scale-up their business.
With the support of a new development program for innovative life science scale-ups in southernmost Sweden, SmiLe Incubator and Medicon Village expect to create better conditions for these companies to develop and grow their operations and thereby further strengthen the life science sector in the region. The program includes more proactive coaching, increased access to venture capital as well as support in organizational and leadership development, digitalization and internationalization. The participating companies will also be offered support when it comes to marketing and office services. The development program is the first step in a long-term effort to strengthen the conditions of growth companies in the region. In the next stage, the goal is to establish a so called ’cultivator’ with specifically designed office and lab space.
“SmiLe has some 70 active alumni companies but there has been a lack of tailored support for these and other life science companies in the growth phase in the region. This initiative is an important piece of the puzzle in developing a comprehensive support so that we can see even more companies succeed in reaching the market with their solutions,” says Ebba Fåhraeus, CEO of SmiLe.
”Our joint initiative builds on the platform for life science research and innovation that has been developed during Medicon Village’s first ten years. The southernmost part of Sweden stands for more than a third of Swedish life science patents and it is important to create the right conditions so that the strong willingness to innovate that exists here is translated into products and services that reach patients”, says Sarah Lidé, Deputy CEO of Medicon Village Innovation.
“Life science is one of most important development areas in Lund and the region, with a close collaboration between Lund University, Skåne University Hospital, Max IV and the companies at, among others, Medicon Village. To strengthen the conditions for development and growth by investing in life science scale-ups is a priority for the municipality in working with developing our unique innovation environment,” says Anders Almgren, Mayor of the City of Lund.
The initiative is co-financed by the European Regional Development Fund, Medicon Village and SmiLe Incubator and will initially run until January 2026.
For more information:
Ebba Fåhraeus, CEO of SmiLe Incubator, 073-400 04 33
Sarah Lidé, Deputy CEO, Medicon Village Innovation, 073-866 31 35
Anders Almgren, Mayor of the City of Lund
Medicon Village is the Nordic region's largest science park focused on life science, with 2,800 researchers, entrepreneurs and facilitators on-site in 180 companies and organizations. Medicon Village is owned by a non-profit foundation initiated by the entrepreneur Mats Paulsson and surpluses from operations are continuously donated to research.
About SmiLe Incubator 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 717 million in venture capital since 2014. To date, 21 of SmiLe´s companies have launched an IPO and these listed companies have a market capitalization of more than EUR 500 million (Q4 2022). 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, Awa, Høiberg, Magle Chemoswed, Merck, Prevas, Setterwalls, Zacco, Phase Holographic Imaging and ChemoMetec. www.smileincubator.life