Fifteen entrepreneurs from a broad spectrum of life science fields were selected as Finalists in the SEED Competition, which makes them eligible to compete for the Grand Prize of 300,000 RMB ($45,000). The awards were made at the SEED Finalist Coaching Day event held in Shanghai’s Zhangjiang Hi-Tech Park earlier this week. Over 140 people attended the event. Roche (SW: ROG), OrbiMed, and McKinsey organized the SEED competition, which was managed and presented by ChinaBio® Accelerator.

The ultimate winner will be named at the SEED Final Competition and Award Ceremony in Shanghai on April 23, 2010. In addition, three finalists will also be chosen to receive the SEED Winners Tour, an all-expenses-paid trip to the US sponsored by BioCentury to meet with investors and entrepreneurs.

SEED stands for “Scientists to Entrepreneurs, Education and Development.” The SEED Competition was launched in November, 2009. A total of 77 business plans were submitted from regions all over Greater China, covering a wide range of life sciences fields, including drug discovery, drug delivery, enabling tools, diagnostics, medical devices, etc. The fifteen finalists, representing this wide range of fields and geographies, were selected based on the quality of their business plans.

The competition is designed to help entrepreneurs and academicians create companies in the life sciences and healthcare field, enhance technology transfer and commercialization from the sciences, and create a platform for commercialization of life sciences and healthcare innovations in China.

In addition to the cash prizes and awards, the competition gives participants a chance for significant exposure to potential investors and other stakeholders in the life sciences community. The BioCentury-sponsored SEED Winners Tour expands this exposure significantly.

At the SEED Finalists Coaching Day event on March 2, representatives of the organizers and experts from such industry leaders as Morgan Stanley, Perkins Coie, and Charles River shared insights on the current Chinese healthcare industries, key success factors for life sciences start-ups, and personal experiences in life sciences entrepreneurship.

The fifteen finalists then were individually announced and received awards that included a cash prize. The finalists also received one-on-one coaching from the organizers and industry experts on topics critical to life sciences start-ups, and enjoyed the unique opportunity to network with potential investors, industry stakeholders, and other competition participants.

For more information about the SEED Competition, please visit www.seedcompetition.com.