The MyBioGate Global Challenge is back! After an incredibly successful challenge last year with more than 250 submissions and many partnerships built, the 2020 challenge is now open for submissions.
What is the MyBioGate Global Healthcare Challenge?
MyBioGate Global Challenge is an innovative way to discover new medical technology for the swiftly growing market in China. This accelerated program is hosted by MyBioGate, who has partnered with more than 100 life science experts, industrial parks, corporate professionals, and investors.
The categories for the 2020 Challenge include IVD, rehabilitation devices, wearable medical devices, orthopedic medical devices, dental medical devices, ophthalmology drugs and devices, medical imaging equipment, minimally invasive surgical instruments, pediatric drugs, and medical beauty.
Our goal is to partner innovative biotech and medical device companies to offer the business expertise they need to take advantage of the incredible business opportunities available in China. The MyBioGate Global Challenge focuses not onl
y on raising capital but also on all of the facets of building a strong, successful business.
What Do the Selected Proposals Receive?
If selected, your project will receive start-up funding to aid with a variety of costs, including research and development, office expenses, and human resources. You’ll work with mentors to develop a market plan specific to China’s unique market, and you’ll have help finding a Chinese business partner who will aid in developing your business plan. Mentors will also help you to secure long-term business investment partners.
Who is Eligible to Submit a Proposal?
Those who submit a proposal should be eager to develop their projects in the Chinese market and work with Chinese partners. Your product must be at the late stages of development or must already be on the market. You must own all intellectual property rights to your project idea with no unresolved disputes.
Successful applicants have 3 or more innovative team members who are excited to work in the Chinese market. Previous work experience in China and/or fluency in Chinese languages gives you an advantage when building your business.
Above all, your project must be based on strong and clear data, and your team must legally stand behind your innovation. All technical documentation must be accurate and in place.
What Does the Submission Process Look Like?
Once you submit a proposal to the MyBioGate Global Challenge, our team will immediately evaluate it and then send it for review by our many professional partners. Your project will be promoted through the MyBioGate platform as well as the Chinese media.
If there is a Chinese investment interest in your project, your team will be enrolled in a free, 6-month accelerator program. We project between 5 and 20 projects to be selected for this stage.
The accelerator program focuses on perfecting your project’s Chinese market and fundraising strategies. Chinese business partners, office space, and a competitive Chinese operations team will be secured. At this point, the first seed funds for Chinese market development will be secured, and applications will be made for lead investment, R&D, and human resources subsidies.
If your team is ready to take your innovative biotech or medical device idea to the Chinese market, submit your application to the MyBioGate Global Challenge. Your team will be well on your way to running a successful and innovative Chinese biotech company. Click here to learn more.