Introduction

Immobazyme and UVU Bio have teamed up to introduce Catalyst 2024, a pitch competition aimed at supporting early-stage biotech startups in South Africa. This initiative is designed to empower emerging biotech founders by providing them with access to critical resources, mentorship, and industry connections.

A Partnership for Biotech Innovation

UVU Bio, the biotech division of non-profit startup ecosystem supporter UVU Africa (formerly the Cape Innovation and Technology Initiative), has joined forces with Immobazyme, a Stellenbosch-based biotech company, to create this exciting opportunity for aspiring biotech entrepreneurs. The competition is set to foster innovation in the biotech sector by offering participants the tools and support needed to turn their ideas into viable businesses.

Catalyst 2024: Application and Selection Process

Applications for Catalyst 2024 are currently open, with entrepreneurs invited to apply before the deadline of October 8. The competition will feature two elimination rounds, narrowing the field to seven finalists who will pitch their ideas during a live event at UVU Africa’s innovation hub in Woodstock, Cape Town, on November 7.

The pitch competition offers a platform for biotech innovators to showcase their groundbreaking ideas and compete for a chance to accelerate their journey from concept to product.

A Launchpad for Success: The Prize Package

The winner of Catalyst 2024 will receive a startup launchpad package valued at over ZAR350,000 (US$20,000). This prize is designed to give the winning startup the resources needed to transform their concept into a minimum viable product (MVP). The package includes:

  • Six months of free lab space at UVU Bio
  • Access to specialised support through UVU Bio’s business programme
  • Personalised mentorship for six months from Immobazyme’s executive team
  • Additional perks aimed at facilitating the startup’s growth and development

This comprehensive support will provide the winning biotech startup with the infrastructure, expertise, and guidance required to navigate the complexities of the industry and successfully bring their product to market.

Accelerating South Africa’s Bioeconomy

As South Africa’s bioeconomy experiences rapid growth, Catalyst 2024 presents a unique opportunity to spotlight and support the country’s most promising biotech startups. Dheepak Maharajh, CEO of UVU Bio, highlighted the importance of the initiative:

“South Africa’s emerging bioeconomy is experiencing a surge of innovative biotech startups. Our collaboration with Immobazyme offers an exciting platform for showcasing these new ideas and driving their growth through a comprehensive support package. This initiative is poised to accelerate the advancement of our bioeconomy and empower the next generation of biotech entrepreneurs,” Maharajh said.

A Platform for the Future of Biotech in Africa

By partnering to create Catalyst 2024, Immobazyme and UVU Bio are not only providing early-stage biotech startups with a springboard for success but also contributing to the growth and sustainability of Africa’s bioeconomy. The competition is set to be a catalyst for innovation, offering aspiring biotech entrepreneurs the chance to bring their ideas to life and drive meaningful change in the industry.