The Uruguay Innovation Hub (UIH) program aims to promote projects in science, technology, and innovation that enable the country to advance towards a knowledge-based economy and society, becoming a world-class innovation hub that attracts international investments, increases the country's potential economic growth rate, and generates high-quality jobs for the country's residents.
As part of the Uruguay Innovation Hub, we support the launch of a company-building program focused on biotechnology ventures, with the ultimate goal of supporting and promoting the creation of a greater number of startups.
Who can apply?
Organizations or consortia that meet, among other conditions, the following requirements:
- An executive team with a background and track record associated with the creation of biotechnology-related ventures. This team must provide access to a strong network of mentors, as well as national and international networking opportunities.
- A methodology from the recruitment and selection of potential candidates in the academic sector to the formation of the venture and its support. It must have successful cases associated with company-building processes and startups that have achieved scalability.
- Legal status in Uruguay at the time of contract formalization.
- An executive team present in Uruguay at the start of the project, with the possibility of being locally hired, and representatives of the central organization in the support stages to be carried out in Uruguay.
- A revenue model that ensures financial sustainability after the program funding ends.
- The ability to invest in selected ventures after their participation in the support program, with previous experience in this type of investment.
- A proposal demonstrating a significant impact on the national entrepreneurial ecosystem.
What are the benefits received?
- Non-reimbursable annual operational support of up to USD 300,000 for six years, provided that the organization contributes at least 20% of the total project cost.
- An office space for operations for 3 years.
- Possibility to access additional non-reimbursable support to ensure access to equipment for supported ventures.
- Possibility to co-invest with the UIH in selected ventures after their participation in the support program, providing financial contributions from own or third-party funds that have been contributed to the selected organization.
This call operates as a competition. The deadline for receiving applications is 13/11/2023 to 27/2/2024 at 2 pm.
For inquiries: firstname.lastname@example.org
For more information about the Uruguay Innovation Hub, visit: https://uruguayinnovationhub.uy
For more inquiries: email@example.com
For more information: https://uruguayinnovationhub.uy