What kind of life sciences companies can apply for the programme, and at what stage?
We are interested in a broad range of life science companies covering three key areas – biopharma, healthcare and agritech. Uniquely the Reactor is interested in companies at different stages of maturity, from early stage to scale-up and manufacturing.
What does the programme involve?
The programme uses the Triple Chasm framework to generate strategic commercialisation plans by addressing the current maturity of the business, the strategic target destination, and the gap that companies need to address as they grow. The analysis is based on 12 vectors (or drivers of growth) which cover ‘external’ factors, internal factors, and the strategic trade-offs which underpin sustainable business models.
You can find the timetable in the flyer at www.discovery-park.co.uk/business-support
How will the programme be delivered?
The programme will largely be delivered online, using a combination of digital tools, including Zoom. If the pandemic situation permits, we hope to have a few physical events on the Discovery Park campus towards the end of the programme.
What will the programme cost me?
The programme is free for selected companies.
How many people from my company can attend?
We want the leadership team from each company to participate, so typically we expect 2-4 people from each company to attend, fully engaging with the programme and implementing the resulting strategic plans.
What’s the schedule and time commitment?
The Reactor will be delivered over a period of 8 consecutive weeks from w/c September 20 to w/c November 8. The expected ‘synchronous’ time commitment per week will be 7-8hrs, with around 3-4 hrs of contact time on each of 2 days per week (Tuesday and Thursday mornings). In addition to this time over the course of the programme, teams will be expected to work on their development plans in their own time, with support from their Mentors as appropriate.
There will be a follow-up and progress review in February 2022.
Who are the mentors on the programme?
There will be around 20 mentors on the programme, with a wide range of expertise across the life sciences sector. They include: Dr Claire Thompson, CEO of Agility Life Science; NED and Trustee (UK Dementia Research Institute, LifeArc and MedCity) Jo Pisani; and Isabel Fox, General Partner at Outsized Ventures. Other mentors will be announced in due course.
The programme will be delivered by Uday Phadke and Sam Dods from the Triple Chasm Company.
How will mentors be allocated?
You will be allocated a mentor(s) at the start of the Reactor following the analysis of your business needs.
What’s the selection process?
The selection process will be based on three key components:
Companies will be required to complete the Triple Chasm multiple choice questionnaire, which typically takes less than an hour to complete. discovery-park.co.uk/reactor
Shortlisted companies will be invited for a 30 min interview.
The final selection decision will be made by an expert panel set up by Discovery Park.
Even if your company’s not successful this time round, you’ll receive a summary of your data from the questionnaire which will provide a snapshot of your development stage.
Applications close at 5pm BST on Monday August 16 and you will find out whether you have been successful in the week of September 6.
How many companies can take part?
There will be 10 companies in the first Reactor cohort.
What’s the feedback from companies who have previously undergone the Triple Chasm approach?
There are testimonials in our flyer at www.discovery-park.co.uk/business-support
What happens after the Reactor? Does my company have to relocate to Discovery Park?
After your company has completed the programme, it will have access to some of the Triple Chasm tools for a year, and will have access to business services at Discovery Park. You don’t have to relocate to Discovery Park, but we’d be delighted to have you as a tenant, particularly with our new Incubator facility coming on line in the middle of 2022.
Where can I find out more about the programme?
Please go to www.discovery-park.co.uk/business-support
Why has Discovery Park established this programme?
Driving innovation for patient benefit is a core strategic aim for Discovery Park. The Reactor programme will help it meet this aim, develop into a world class world leading science park, and drive the success of the life sciences sector in the UK.