Turn your innovation into a successful business with expert advice
Have an innovative idea, technology or business venture you want to develop in the Basel Area? The Venture Mentoring program from Basel Area Business & Innovation can help you turn your plans into success. Venture Mentoring supports startups in the area and those relocating from abroad by providing access to experts, advice and introductions to key partners, suppliers and distributors. Services are free to qualified applicants.
Venture Mentoring provides rapid access to expert advice to help you shape a solid business plan from your innovative technology or business model. During individually prepared meetings, you will receive recommendations from industry experts, entrepreneurs and consultants to close information gaps in your business case and better define your venture’s risk-reward profile.
The Venture Mentoring program is part of our startup acceleration program as well as a standalone service for high-tech projects from the Basel Area.
- that are or intend to be incorporated in the cantons Basel-Stadt, Basel-Landschaft, or Jura
- from any high-tech field as well as digitally transformed work processes or business models
- that are scalable with economic protection through IP or software copyright
- on the verge of incorporation or/and at the pre-seed to seed funding stage
- Digital health
- Industry 4.0
Also eligible are game-changing innovations in any high-tech field as well as digitally transformed work processes or business models. To find out more, contact us.
- Initial meeting: to get an idea of the technology of the respective project, do an initial assessment and identify suitable mentors for subsequent expert workshops.
- Expert workshops: One to four hour one-on-one workshops with individually selected experts depending on the questions on hand. Recommendations are provided for further action.
- Individual guidance: Basel Area Business & Innovation continues to exchange ideas with the participants about the projects and arrange further meetings with different mentors as new questions arise.
What do participants say about the program?
The Venture Mentoring format addresses high-level strategic questions in consultation with carefully selected experts. Topics typically include:
- Business case checkup. Get an assessment from an experienced business angel or investment manager about the chances of financing your project. Find out first hand what is important to investors and what is missing from your business plan.
- Company Valuation. At the seed stage of their venture founders struggle with being under-prepared for investor meetings and unable to defensibly quantify their venture’s worth. Learn about the stages of financing, how VCs measure themselves, how to value your startup, and finally how to maximize your startup’s valuation.
- B2B customer feedback. As a startup, it is often difficult to get to the people in large companies who decide to buy your B2B solution. We try to get these people to come and mentor you so that you know early on if there is a neeed for your product and what it needs to look like.
- IP strategy. Together with a patent attorney, you will analyze the patentable aspects of your technology and draft a patent strategy with regard to scope of protection, countries, schedule as well as cost plan. If required, a guided patent search can be carried out at the IGE, “Institut für geistiges Eigentum” free of charge (fee normally CHF 300).
- Regulatory Pathway. In a mentor meeting, an initial regulatory objective is defined and, based on this, the classification of the product is assessed. This will help to sketch out indications for time and cost planning for registration in the initial market in preperation of investor discussions.
- Reimbursement chances. Discuss with experts from insurance companies your healthcare innovation’s chances for a refund on a private supplementary insurance. Get an initial assessment of the reimbursement strategy for planning market access.
Marketing and PR
- Marketing strategy. Get feedback on your marketing strategy from a marketing specialist. Learn from a successful Kickstarter veteran how to achieve your financing goal through crowdfunding. Learn from Internet founders do’s and dont’s with product launches.
- Pricing strategy. More than 50 percent of customers’ purchasing decisions depend on the price. Learn from a pricing expert how to use psychological price levers in your pricing and develop an individual pricing strategy with them.
- International expansion. Find out how to adapt and implement your business model internationally, how to find access to crucial information and stakeholders in other markets and how best to take your first concrete steps abroad. (in collaboration with Switzerland Global Enterprise)