117 project proposals were submitted for the INNOLABS 1st Open Call representing 24 countries. Now a selection of 50 companies is going to engage with INNOLABS consortium during an acceleration period of nine months.
INNOLABS was granted EUR 5 Million by the H2020 INNOSUP program of the European Commission to support innovation and prompt new value chains in the healthcare sector over a 2,5 years period. The purpose is to accelerate companies, preferably SMEs, to support them in bringing disruptive solutions to the healthcare sector.
Geographical distribution of the companies with supported proposal
From the total of 50 companies supported, 36% are from Western Europe, 34% are from Southern Euroupe, 26% come from Northern Europe, and 4% are from Eastern Europe.
Unlocking the potential of SMEs
To unlock the potential of SMEs, Innolabs will test and validate optimal support measures for taking merged ICT and biomedical research products and services to market by comparing measures for traditional value chains with new fast lane measures. It will increase the competitiveness of SMEs by using targeted non-monetary support mechanisms that generate added value encompassing expert knowledge, new partnerships and market optimisation of products. The project will also secure new funding streams to facilitate sustainable cycles of collaborative IHBM innovation by SMEs.
The acceleration process
Each company/team who is entering the programme is assisted by a designated Key Account Manager (KAM) who will work with and guide the company through the acceleration process. The KAM will perform a baseline analysis with the companies to see where they are, where they want to be in 1-2 years, and how INNOLABS can support them in defining the best service package for their needs. Hackathons, idea contests, innovation boot camps, University-SME competitions, webinars, and several other specific training events and workshops will be arranged to help achieve the goals of the SMEs and the project.
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This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 691556.
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