For more than twenty years, the i-Lab competition has rewarded project leaders from innovative companies.
His goal ?
Encourage the entrepreneurial spirit, in particular among researchers and doctoral students.
And it works.
Organized and financed by the State thanks to France 2030, operated by Bpifrance, i-Lab has established itself over the years as the first support tool for start-ups in France.
“
Since 1999, the system has enabled the creation of more than 2,100 companies,
says Frédérique Vidal, Minister of Higher Education, Research and Innovation, with satisfaction.
Among them, thirty young shoots are currently listed on Euronext, on Nasdaq Europe or on both places at the same time.
»
A significant financial endowment
“Moving from the laboratory experiment stage to the business stage is a very delicate phase,
remembers Kevin Alessandri, who developed with Maxime Feyeux a unique technology to accelerate the production of stem cells.
However, funds are needed to be able to develop a prototype in order to convince investors.
"
To meet these very specific financing needs, the contest is endowed with € 26 million, and the best projects can receive up to 600,000 euros of public money.
Thus, their company TreeFrog Therapeutics won the i-Lab 2018 grand prize, winning the tidy sum of 450,000 euros.
"This non-dilutive money is extremely valuable and has a significant and rapid leverage effect
"
, emphasizes the young entrepreneur.
The proof: in less than three years, TreeFrog Therapeutics has grown from three to seventy employees and in 2020 inaugurated its first industrial site in Pessac, near Bordeaux, 1,200 m² devoted to the development and production of cell therapies.
Another major project is the opening this year of an industrial demonstrator in the United States, more precisely in Boston, the world capital of cellular therapies.
July 2021 Innovation Competition Ceremony – The Government
Raising private funds more easily
But the interest of the contest is not limited to its endowment.
"
Winning the i-Lab label is national and international recognition and proves the solidity of the project
"
, specifies Cécile Real, member of the jury for four years and herself winner in 2011 with her company Endodiag, which works on the diagnosis of endometriosis. A precious sesame to defend your project in front of banks, investors or to put together grant application files.
Just a few months after winning the i-Lab competition, it managed to complete a funding round of 750,000 euros.
Same performance for TreeFrog Therapeutics, which raised nearly 10 million euros in 2019 after winning the 2018 edition .
"It's clearly thanks to i-Lab
"
, recognizes Kevin Alessandri.
Since then, the notoriety of the Bordeaux start-up has not weakened: it has succeeded in integrating investors for a total of 64 million euros in 2021.
July 2021 Innovation Competition Ceremony – The Government
Structure a solid project
Beyond the financial aspects, the winners gain a very important credibility at this pre-industrial stage.
“
It's a real plus for convincing laboratories, subcontractors and future customers
,” confirms Cécile Real.
To enter the competition, project leaders must present a solid business plan and then compare their research with experts.
"
It's a very interesting exercise for the participants, because they have to structure their arguments, present a development plan and learn how to convince,
"
emphasizes Cécile Real.
In short, an excellent way to prepare to
pitch in
front of investors.
"
Participating in the competition has a major impact on the structuring of the company
"
, abounds Kevin Alessandri.
Innovation as DNA
Proof of the seriousness of the competition, more than 65% of the companies awarded by i-Lab since 1999 are still in business… And they continue to innovate! This is the case of the company PolymerExpert, founded in 2000 and winner of the i-Lab competition (which was then called the national competition for assistance in business creation) the same year. A major player in the development and manufacture of specialty polymers – in particular in the fields of medical devices and cosmetics – the group has filed more than sixty-five patents since its creation and devotes 35% of its income each year to the development of new polymers.
“
Innovation competitions, in particular i-Lab, are a valuable ally for making us known,”
explains Sabine Ashfaq, marketing manager.
Moreover, twenty years later we still continue to participate in competitions!
"
The challenge is twofold: to maintain its image as a leader and present its new patents to manufacturers.
The company, which employs 25 people near Bordeaux, won second prize for formulation at the CosmetAgora in January and, a few months earlier, the title of "ingredient of the year" for its oil gelling polymer 100% biobased (Cosmetiquemag Awards 2021).
So many arguments that continue to convince many project leaders or managers of companies created less than two years ago.
Moreover, five hundred files were presented during the last two editions.
The submission of applications for the 23rd edition of i-Lab is open until February 1, 2022 at 12 p.m. (Paris time) at the following address: https://www.bpifrance.fr/catalogue-offres/soutien- a-linnovation/i-lab-innovation-contest.
July 2021 Innovation Competition Ceremony – The Government