The EIC Tech to Market (T2M) Venture Building Programme recently hosted two Tech Demo Days in Health and in Biotech. In total, 16 innovative Pathfinder and Transition projects teams participated in these events and pitched to a diverse panel of experts.
The beneficiaries’ point of view
We spoke with Nora Ventosa, representing the Transition project Nano4Rare, who participated in the Tech Demo Day on Health, and with Alberto Figoli, representing the Transition project BIOPURE, who participated in the Tech Demo Day on Biotech.
Nano4Rare is developing an innovative nanoencapsulation platform which has already yielded a new nanomedicine for the treatment of Fabry LSD, which has been designated as Orphan Drug by the EMA and EC in 2021, due to its superior efficacy at preclinical level in comparison to marketed products. This new Fabry treatment has shown efficacy in the brain, non-achieved with other products for Fabry Enzymatic Replacement Therapies (ERT). The nanoencapsulation platform is also currently being explored for the development of new nanomedicicines for the treatment of other LSDs.
BIOPURE's solution is based on the recovery of the monoclonal antibody as a solid crystalline product directly from the clarified cell culture fluids by the innovative membrane-assisted crystallization technology. By this approach, membranes provide the selective mAb crystallization from the complex mixture, so that we are able to replace all the chromatographic steps.
For Nora Ventosa, participating in the first phase of the EIC Tech to Market Venture Building Programme (Tech Demo Day) “was very beneficial and helpful to improve our pitch deck”. Alberto Figoli agrees that this first phase was beneficial in a sense that "it pointed out the main issues we have to deal for possible commercialisation of the product and also tech how to make a pitch presentation in well defined short time".
On the Tech Demo Day, the innovators pitch their project to a panel of experts and receive their feedback and suggestions for improvement. The Nano4Rare representative thinks “that one of the most interesting parts is the presentation of our project pitch deck in front of a big panel of experts, with different points of view, and the inputs we received from them”. For Alberto Figoli, discussing with the experts "allowed us to well understand which are the main key points we should evaluate and take in consideration for the exploitation of the technology".
What’s next?
Nano4Rare and BIOPURE moved to the Opportunities’ Exploration phase in the Programme, where they will receive guidance on feasibility from a team of experts with business insights that can support them with recommendations for improvement.
The experts’ feedback
We had the opportunity to speak with David Vittecoq, CEO of CAERUS MEDICAL, and with Orily Pratt, Business Coach, Mentor, Strategy and Marketing Consultant.
David Vittecoq sees programmes like the EIC T2M Venture Building Programme as a “really great opportunity for them [early-stage innovators] to be challenged and to help them to drive the project on the less difficult road to put the innovation on the market”. Orily Pratt added “I believe these programmes are crucial to the success of these innovations in the market. It is a “reality check” for the projects and the innovators, allowing them to take advice on a wide range of subjects in a relatively “safe” environment. I also think it can provide the innovators with confidence by looking at their peers who experience similar difficulties, conflicts or hesitations”.
We asked David and Orily if they could give two pieces of advice to our early-stage innovators, what would they be. Orily Pratt said “my first advice would be to thoroughly comprehend the market: Who is your target audience? What are their concerns? Why would they invest in your innovation? Who are your competitors? These questions should be addressed early on to ensure the innovation has a sustainable position in the market. And secondly, don’t take things personally... Getting your innovation to the market is a long and hard road to walk. It is frustrating when sometimes other people don’t see things the same way you do. Listen to other people’s experiences. Seek advice from several sources. Try to look at the broad picture as objectively as possible”. For David, the main advice is “to clarify the pain points in order to focus on a first application or solution, and to define very soon who will pay for their solution to clarify the first segment to address”.
The EIC Tech to Market Programme is hosting an online Info session on 29 May, titled “Journey towards Entrepreneurship & Venture Building”. This session will cover the services offered and results achieved including testimonials from participants, so you can learn more about the opportunities this Programme can bring to EIC-funded projects and how external experts can be involved. Know more and register here.
About the EIC Tech to Market (T2M) Venture Building Programme
The EIC Tech to Market Venture Building Programme aims to help build start-ups to exploit promising research results through venture building services, comprising a range of activities from identification of promising business ideas to venture creation and development.
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DISCLAIMER: This information is provided in the interest of knowledge sharing and should not be interpreted as the official view of the European Commission, or any other organisation.