Collaboration between Golrang Ventures and Golrang Pharmaceutical Investment
In order to develop innovations in the field of health and create sustainable investment opportunities, Golrang Ventures, the venture capital arm of Golrang Industrial Group, in collaboration with Golrang Pharmaceutical Investment Company , has launched the Golrang Ventures Pharmaceutical Innovation Call in the field of medicine and medical devices. The call aims to identify, support and accelerate the commercialization process of innovative ideas, improve access to new technologies and strengthen the country’s health ecosystem.
Call out
The call, which began on October 20 and continued until December 20, was met with a wide reception across the country. The event was advertised through 245 scientific, academic, professional and pharmaceutical networks, which resulted in the receipt of 87 innovative projects from 18 provinces of the country. Participants from the provinces of East Azerbaijan, West Azerbaijan, Isfahan, Tehran, Chaharmahal and Bakhtiari, South Khorasan, Razavi Khorasan, Zanjan, Fars, Qazvin, Qom, Kurdistan, Kerman, Kermanshah, Golestan, Mazandaran, Hamadan and Yazd submitted their projects.
35% of participants had an early product and were in the laboratory and research and development stages. These projects cover a wide range of areas of expertise, including chemical drug formulations, biopharmaceuticals, nanomedicines, advanced medical devices, cosmetic-hygiene products, digital health, and artificial intelligence.
After careful review and expert evaluations, 18 top projects were selected from the received projects, and ultimately 6 innovative projects advanced to the Investment stage and 2 projects to the Acceleration stage. 18 hours of specialized training and mentoring, including 2 hours of Business Plan workshops, 8 hours of Business Plan mentoring, and 8 hours of Pitch Deck mentoring, were held for the teams that advanced to this stage.
Demoday
On Monday, March 4, the call’s demo event was held privately for Golrang Pharmaceuticals, Golrang Ventures Fund as the CVC fund, and Golrang Ventures as the Golrang Innovation Center. The event began at 1:30 PM and continued until 6 PM, with 6 selected teams presenting their plans in B2B sessions in front of investors.
The selected projects are in the fields of producing bioengineered wound dressings, polymer microneedles, blood coagulation pads, biocompatible and hemostatic products, and medicines based on natural materials, each of which can create a significant transformation in improving treatment processes and enhancing the quality of health services in the country.
The role of Golrang Ventures in supporting pharmaceutical and health innovations
This call is a milestone in supporting health innovations and provides a new path for collaboration, cooperation, and co-investment among academics, researchers, entrepreneurs, and pharmaceutical industry activists in the country. Golrang Ventures, as one of the pioneers of investing in new technologies, has played an important role in advancing this path with more than 15 hours of online evaluation and more than 400 person-hours of support. Continuing this trend and strengthening interactions between industry and the scientific ecosystem will have a significant impact on the growth and development of advanced technologies in the field of medicine and medical devices.
Following this success, future rounds of this call have been planned, and new opportunities will be provided for the participation of idea owners, knowledge-based companies, and startups active in this field.
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