A further four EIT Health-supported start-ups, who gained pan-European exposure through our Catapult programme, have received accelerator grants and equity investments from the European Innovation Council (EIC). This brings the total number of EIT Health Catapult alumni to receive EIC grants to seven in 2022.
INNITIUS, semi-finalist in the Catapult MedTech category in 2021, Avatar Medical, semi-finalist in the Catapult Digital Health category in 2021, and two semi-finalists of the current edition of Catapult, Time is Brain (Digital Health) and Gate2Brain (Biotech), are all set to receive EIC accelerator support.
The EIC Accelerator offers start-ups and SMEs grants of up to €2.5M combined with equity investments through the EIC Fund ranging from €500,000 to €15M. In addition to financial support, the start-ups will gain access to leading experts, corporates, investors, and ecosystem actors to help their businesses grow. Learn more about the four Catapult alumni who received grants in the last round.
Innitius is a MedTech start-up based in Bilbao, Spain, that aims to help differentiate between false and true preterm labour threats using their portable diagnostic device, FineBirth. They have been granted €3.8M and will use the funding to complete clinical research, transfer to manufacturing and European regulatory pathway processes.
Rubén Molina, CEO and Co-founder of the company, described how taking part in Catapult helped them build their credibility and visibility: “Exposing the project to top European partners and industry profiles, who test every critical aspect of the company, has certainly been an experience that has helped us to strengthen processes, adapt our development plan and reduce the risks associated with the project. The programme exposure has also helped us to build an international advisory board that has played a key role in the European Commission’s decision to grant this funding to our company.”
Avatar Medical, based in Paris, France, creates patient avatars to help surgeons prepare for their surgeries. Their technology instantly makes interactive 3D representations of patients based on standard medical images in an immersive virtual reality. They will use the funding to accelerate the development of their immersive 3D solution for shorter, safer, and less invasive surgeries.
Founder and COO, Elodie Brient-Litzler, described how the valuable learnings from EIT Health Catapult helped them to get the EIC grant: “The pitch course with Colin Bennet will help me for my entire career. As the EIC exercise was also a short zoom pitch, we were in very similar conditions as the EIT Health exercise.”
Time is Brain is a digital health start-up based in Barcelona, Spain, that aims to help stroke patients with their BraiN20(R) solution. The start-up received €2.5M from the EIC Accelerator programme and will use the funding to conduct BraiN20 validation, industrialisation, obtain the CE Mark and reach the commercialisation of the product. Founder and CEO Alicia Martínez described how the support they received on the Catapult programme was instrumental in supporting them on their journey towards this funding: “I would like to thank the EIT Health Catapult programme for its support and mentoring. Thanks to the team and especially to the coaches and mentors. I would also like to thank Eric Garnier and Colin Bennet. Their teaching was extremely valuable for preparing for the EIC Accelerator programme interview. I am grateful for their dedication and commitment.”
Gate2Brain is a biotech start-up based in Barcelona, Spain, that aims to improve the transport of drugs to the brain using its peptide-based patented solution. They have been granted €2.5M and will use the funding to advance the preclinical regulations of their flagship product, G2B-002.
Founder and CEO Meritxell Teixidó described how taking part in the Catapult programme helped them to refine their business model and pitch delivery through the extensive mentorship offered by the programme: “Our virtual coffees with Dirk Groenenwegen were an excellent brainstorm exercise about how Gate2Brain could achieve a broader impact and approach pharma companies to use our technology with their candidates of different modalities.”
Their Catapult mentor Dirk Groenenwegen added: “As Gate2Brain’s mentor under the EIT Health Catapult programme, it was an honour and a pleasure to guide the management of Gate2 Brain with their business case and perfect their pitch.”