Silicon Valley Bank today announces that it will be a European partner of OneStart, the world's largest biotech start-up competition and accelerator programme. Nooman Haque, Director of Life Sciences at Silicon Valley Bank, and Joseph Smart, Vice President at Silicon Valley Bank, will also be acting as mentors for participants in Europe.
Commenting on the partnership, Nooman Haque said: "We're delighted to become a formal partner with OneStart, a highly worthwhile initiative that attracts and develops some of the brightest minds in the biotech space. Operating at the heart of the innovation economy, Silicon Valley Bank is excited to bring our banking and finance insight to the competition in order to help foster the development of groundbreaking ideas in the biotech industry."
Jointly run by SR One, the venture capital arm of GSK, and the Oxbridge Biotech Roundtable, the programme is aimed at biotech entrepreneurs aged 35 and under. Now in its third year, the competition has two parallel strands: OneStart America for teams from North and South America, and OneStart Europe, which is open to teams from Europe and the rest of the world. The winning businesses will receive £100,000 in Europe and $150,000 in America, plus free lab space, and business and IP support. Applications for the 2015 programme have now closed, with submissions from 638 startups representing 50 different countries.
The Silicon Valley Bank mentors will work with all participants to support the development of their business and financing strategies.
Matthew Foy, Partner at SR One, said: "We are delighted to welcome Silicon Valley Bank to OneStart. The programme surrounds biotech companies at all stages of devlopment with the very best people to advise them on each of the wide range of skills they will need to acquire along the way. As the industry's leading innovation bank, Silicon Valley Bank is the ideal partner to advise them on their banking and financing strategies."
Dan Perez, Founder & CEO of OBR, added: "We are thrilled that Silicon Valley Bank will be joining OneStart to share its expertise in financing for biotech companies. The magic of OneStart lies in the extensive mentorship afforded to our teams, and this would not be possible without the support of such firms as Silicon Valley Bank and SR One."
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, venture capital, private equity and premium wine businesses. SVB Financial Group provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com/uk
Silicon Valley Bank is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC.
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