The Industrial Biotech Bootcamp has now passed the halfway mark. On October 30, participants gathered for the third module at Biotech Booster’s office in Utrecht, where the focus was on funding and finance.
We started the day with start-ups presenting their Business Model Canvases, showing how they turn scientific insights into scalable business ideas. The peer feedback led to lively and thoughtful discussions.
After lunch, Pete Rowe led a session on how venture capitalists operate and what they look for in biotech investments. We also worked on financial modeling, learning how to make realistic projections and tell a strong equity story. Building on these activities, the team gathered at the end of the day to discuss their insights. Guest speaker Joost Paques, Managing Director of Paques Biomaterials, shared how he secured the funding his company needed to achieve success.
Drawing on his experience in industrial wastewater treatment, Joost provided clear guidance on transforming an idea into a company. His main points were: take big steps to define your value, build a strong network, prepare for paying customers, and, most importantly, enjoy the journey; enjoyment is more important than the outcome.
Ali Elahinik, CEO of Biotech Booster’s BioFire project, said his main takeaway was that it’s never too early to start working on your finances. Hugo Pantigioso, CFO of Resilient Bio, shared this insight: entrepreneurs and academics have very different mindsets—entrepreneurs are more willing to take risks, while academics are usually more cautious. He also said that even though he didn’t know anyone before joining, the bootcamp has been a valuable experience. Funso Ogunmolu shared his main lesson from the day: “Don’t place your ladder on the wrong wall; think with the end in mind.”
On the second day, we shifted from figuring out what funds you need to learning how to actually get them: Brechtje Vreenegoor from Wageningen University and Research talked about her experience leaving academia to start a company. Katri Kanisma from Planet B.io and Marc van den Berg from RVO explained different types of non-dilutive funding.
Pete Rowe and Sjoerd Stevens from Norrsken wrapped up with a session on how to run an efficient fundraising process. They showed how to create urgency among investors—yes, making them feel FOMO was definitely part of the strategy!
A highlight of the module was the investor speed dating session. This gave start-ups a unique chance to meet real investors and see if their ideas matched what the investors were looking for. Thank you to Carolina Villa from Nucleus Capital, Maria Tapia from Earthstar, Willem van Holte from IQ Capital, Rein Strijker, and Sjoerd Stevens from Biotech Booster for your valuable feedback and involvement.
As the bootcamp continues, we look forward to coming together again to learn more about bringing our industrial biotech projects to the market and making a positive impact on society, the environment, and the economy.
