THE LS Catalyst program as part of Life Sciences Queensland (LSQ), is the first life sciences program to assist start-ups to successfully bridge the knowledge gaps that exist in the innovation ecosystem by offering valuable access to specialised life sciences business tools and resources for startups and entrepreneurs, the Life Science Nation investor (LSN) platform and the Guidance and Impact Tracking System (GAITS).
Augmented Bionics, Founder and CEO, Viraj Agnihotri, said his start-up continues to find success through its use of each digital platform. “One of the most important things for a start-up is to be able to network with the right investors. LSQ has been very helpful in helping us to make those connections.”
Access to the LSN database platform is made possible through an LSQ shared licensing agreement and start-ups are given access for a specific period. It provides access to validated life science specific global investor data and resources that help entrepreneurs to successfully navigate their development and fund-raising journey. For Augmented Bionics, their use of the LSN database was sufficient for them to identify, contact and secure networking opportunities with investors that would not have otherwise been available to them.
“The Life Science Nation investor database allowed us to use different filters to specifically target and connect with the right investors,” stated Viraj.
Life Sciences Queensland, Deputy CEO, Nagaraj Gopisetty explained that though there are many programs that focus on enhancing business and technical knowledge, LS Catalyst program provides a practical hands-on environment to apply the learnings and advance the opportunities. The LSN platform is one of a kind in the life science sector. “It provides a specific curated and searchable database that helps identify investor of best fit for a company from over 10,000 global investor networks then gain direct access to them and secure investment at all stages of start-up life cycle.”
While the LSN database assists in identifying and securing potential investors, LSQ also offers access to the GAITS, a bespoke project management system designed to assist start-ups in life sciences and healthcare to map their development and commercialisation activities from start to finish.
For Viraj and his team, the GAITS assisted Augmented Bionics to not only de-risk, but also to accelerate the development of their innovation. “The GAITS provides insight on what things need to be done in our commercialisation pipeline that are critical to our success.”
Access to digital platforms like the LSN database and the GAITS, in combination with virtual pitching events, are valuable resources for start-ups like Augmented Bionics. Each provides excellent investment and networking opportunities for founders and start-ups. “LSQ has helped us reach out to potential investors and build our networks,” said Viraj. “It’s not about what you know. It’s about who you know.”