The full terms and conditions that a successful applicant enters with the BioExel Accelerator are detailed in the Investment Agreement and Programme Agreement. These documents will be issued to successful candidates. We have striven to make the terms and conditions as simple, fair and flexible as possible and the agreements have been standardised and are non-negotiable.
BioExel will invest €95,000 by way of CCRPSs (Convertible Cumulative Redeemable Preference Shares) into each successful applicant company. These CCRPSs will convert at a future funding round in return for an equity stake at the valuation set at that future funding round. The CCRRPS carry no coupon or discount to the next round’s valuation.
The Programme Agreement will govern the applicants participation on the BioExel Accelerator Programme and applicants will pay NUIG as the BioExel Manager a €35,000 participation fee. In return for this fee participants will receive an intensive 6-month programme of support to accelerate their business proposition to be investor ready with access to internationally renowned experts and mentors in Clinical Strategy, Regulatory Matters, IP, Reimbursement, Market Opportunity and Finance/Fundraising, bespoke office accommodation at the heart of the NUIG campus with the opportunity to engage with other start-ups and early stage medtech companies and leverage the wider ecosystem that exists in Galway – one of the top three locations in the world for medtech start-ups.
Should the innovation be commercialised by an alternative means, then the BioExel Accelerator shall be entitled to a share of future royalties/revenues received through alternate commercialisation routes.”