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 the 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 project is run by a consortium of eight partners from seven different countries, with Norway Health Tech as the Lead partner.
The purpose is to accelerate companies, preferably SMEs, to support them in bringing disruptive solutions to the healthcare sector. Service hackathons, idea contests, innovation boot camps, University-SME competitions and other specific training events and workshops will be arranged to help achieve these goal.
All these build momentum to our two key actions in the project – the two Open Calls. These have the purpose of attracting and selecting the best ideas and engaging them in our acceleration programmes where they get a wealth of support, Sergio Ferreira, who coordinates the INNOLABS project from NHT in Oslo explained.
This will support the SMEs in developing and delivering innovative solutions to transform the healthcare sector.
Nine months of hard work to accelerate companies
The consortium has been working hard to evaluate and choose the best proposals together with a team of external experts. The top 25 companies join the acceleration period and are supported with EUR 30.000 in cash, 10.000 EUR in innovation vouchers, and a roll of innovation services provided by the consortium, he explains.
A Key Account Manager (KAM) for each of the participants in the programme
Once they get into the acceleration programme, each company/team is appointed a KAM who will work with and guide the company. The KAM will perform an analysis with the companies to see where they are, where they want to be in 1-2 years, and how INNOLABS can add value, supporting them in defining the best service package for their needs, he says.
The 25 runners-up also get support: 5,500 EUR in innovation vouchers plus the innovation services by the consortium.
Geographic distribution of the companies
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.
Generally speaking, he finds the quality of the proposals quite good, but the consortium has high expectations for companies to develop much more and faster with the support INNOLABS is providing. He is also especially excited to see how far the 25 top companies can reach during the period of nine months.
Good luck and wishes of the best possible collaboration to all the companies!