LISEAD, the Life Science Entrepreneurship Academy, is an innovative open programme hosted at ESMT Berlin to empower the next generation of life sciences entrepreneurs.
Founding organisations Blue Ribbon Partners, ESMT Berlin and Helmholtz Munich recognised that scientists hold the key to breakthrough life-science innovations. Translating innovation into benefits for society requires entrepreneurial spirit and expertise. By combining scientific, entrepreneurial and educational excellence, they started LISEAD to bridge that gap and empower more scientists to become successful entrepreneurs.
Ososim were invited to create a custom simulation for the Academy that gave participants first-hand experience running a life sciences company. Working in partnership with key company building and scientific personnel at Blue Ribbon Partners, Ososim developed a series of three digital simulations which capture the critical stages of entrepreneurial life, from start-up to seed financing, through to venture capital funding and exit options.
The simulations ran over two days during the pilot two-week face-to-face programme in Berlin. Working in small groups, future scientrepreneurs improved their knowledge of business models, value propositions and market dynamics, as well as gained a vital understanding of the traits of successful entrepreneurs and leadership dynamics.
CEO of Ososim, Jonathan Knight, said: “Life sciences is a dynamic, growing sector, unlocking life-changing innovations. We are delighted to play our part in helping these brilliant scientists change the future through our work with LISEAD. The simulations we developed cover the core principles of entrepreneurship and can be applied to many different sectors, supporting entrepreneurs as they turn their ideas into business reality.”
Marco Janezic, Managing Director of Blue Ribbon Partners added, “The simulation allowed PhD scientists to test out the knowledge and skills delivered by Blue Ribbon, Helmholtz and ESMT faculty in key company building areas like financing, licensing, decision making and leadership team dynamics.”
“The simulation was an incredible experience that allowed us to fully immerse ourselves in the startup world and to experience the day-to-day struggles and pressure that you encounter when trying to bring your ideas to life. It was amazing to me how I immediately felt like I was a part of Aminos and how truly invested I was in its success or failure”,
Alessandro Bentivogli, PhD candidate at Charité Universitätsmedizin Berlin
“For me, the simulation experience definitely was a highlight of the program. It enabled the groups to learn in a more realistic working environment, where our group dynamics changed a lot. This makes it easier for me to transfer the takeaways into my actual working environment”,
Marco Stock, PhD candidate at Helmholtz Zentrum Munchen
Ososim is a global learning technology company that helps organisations bridge the gap between theory and practice.
We work in more than 85 countries, with major global companies such as Deloitte, Cisco and Korn Ferry, as well as government institutions, leading business schools such as London Business School and IMD, and non-profit organisations such as the World Economic Forum. To find out more about our innovative, engaging learning experiences, please contact +44 (0)1223 421 034 or visit www.ososim.com.