Baltic Sandbox Ventures invests into early stage talents with a scientific background. The fund gives out the grants for the talents developing a business project and invites them to participate in a 7 week fast-track MBA on how to create a venture grade startup.
You may be wondering, "What on earth is an incubation program, why would I need it?" This incubation program is for scientists or professionals who are building deep tech and/or life sciences startups and will give you the knowledge on how to start a science-based startup.
Your focus on the scientific aspect of your venture is a great starting point, we’ll help you achieve more than that! Our program is designed to help you to test your idea in the market (validate) your product by giving you individual advice and exercises that will give you understanding of the market before doing sales.
Venture capitals are not as complex as it might seem. At its core, venture capital is a form of investment where investors (yes, we'll demystify who these mysterious investors are shortly) provide funding to startups in exchange for ownership equity. In this incubation program, you’ll learn who can be your investors (there are many more than VCs!) and how to present your idea to investors.
*eligibility criteria applies.
Participating in the incubation program provided us with the useful knowledge that we will use in growing ‘Biohifas’. It gave us motivation to move forward and develop technologies that will contribute to positive changes.
We had a great time meeting motivated and passionate people, our journey doesn't stop here as we fell in love with the startup scene in Lithuania and the people that surround it. The 7 weeks that we spent together was no doubt the best experience we’ve had, it helped us to brighten out our idea and set clear future goals for our startup. We humbly thank you for this opportunity!
A: Scientific solutions refer to approaches to problems that are developed using the scientific method which is based on empirical evidence that requires research, experimentation, and systematic observation. We are specifically looking for those science-based solutions that are developed in the fields of deep tech and life sciences.
A: The criteria for getting the grant are the following:
The decision and the amount of the grant (which ranges from 1000 Eur to 5000 Eur per team member not excluding tax) is taken by the Baltic Sandbox Ventures partners who take part in the program as mentors.
A: The goal of the program is showing your own progress. Your attendance, active participation and fulfillment of practical tasks show your commitment and motivation. Incubation is for teams where they validate and experiment with their idea or project, therefore, at this stage, our evaluation is primarily centered on assessing soft goals.
A: The participants are quite diverse, ranging from industry experts, first-time or experienced entrepreneurs, from students to professors. Additionally, the teams usually possess a broad spectrum of expertise: researchers, business development, industry experts, etc.
A: We use a hands-on approach to the program. As investors, we provide valuable insights, guidance, and recommendations concerning what you can expect from other investors, the key considerations that matter to them, and how to deliver a compelling pitch. The advantage of the program is that we focus on revealing to you the investors' approach and mindset.
A: The incubation program is free-of-charge and equity-free. The only expense is your time.
A: The programs run on an ‘on-demand’ basis meaning that we open the program once we have enough startups in the cohort or once we agree with a partner to run it. What you have to do is to fill out the form, and if your team fits our investable areas, we will contact you and have a short call with you where we’ll give you more information about the upcoming cohorts.
Applicable for the talented people with great ideas in mind.
