The European Commission supports innovation and prompt new value chains in the healthcare sector over a 2,5 years period through INNOLABS. It has been granted EUR 5 Million by the Horizon 2020 INNOSUP program. The EU funded project is run by a consortium of eight partners from seven different countries, with Norway Health Tech as the coordinator.
The purpose is to accelerate companies, preferably SMEs, to support them in bringing disruptive solutions to the healthcare sector. There are service hackathons, idea competitions, innovation boot camps or other more specific training events or workshops arranged to reach these aims.
– All this builds momentum to our two main actions in the project – the Open Calls. These have the purpose of attracting and selecting the best ideas and engage them in our acceleration programs where they get a wealth of support, Sergio Ferreira explains.
He leads the INNOLABS prosject from Oslo and has the responsibility to help the SMEs in developing and delievering 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, EUR 10.000 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 program, each company/team is appointed a KAM that 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 ups also get support: EUR 5.500 in innovation vouchers + innovation services by the consortium.
A solid share of Nordic companies
From the total of 50 companies, 13 are from the Nordic countries.
– Over 20 per cent from the Nordic countries, that is solid! This mirrors the effort we have made in Norway Health Tech demonstrating the value proposition of the project and attracting companies to benefit from this, Ferreira says.
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 that INNOLABS is providing. He is also 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!
Do you want to know more? Contact Sergio Ferreira at Norway Health Tech