Following the first joint call for healthtech projects, the economy ministry, the national research fund (FNR) and Luxinnovation release the names of the four selected projects.
In an effort to expand Luxembourg’s healthtech sector, the three stakeholders concluded a Memorandum of Understanding and launched a joint call for projects in early April.
“This joint call for projects is part of the economic diversification strategy aimed at further developing the health technology sector which is driven by innovation, resilience and competitiveness,” explains economy minister Franz Fayot.
The selection process which took place in two phases and involved 17 expressions of interest was narrowed down to the four most promising projects. These projects were retained for their innovative use of digital tools and data analysis to improve the country’s prevention, diagnosis and monitoring or treatment of diseases.
The retained projects had to undergo the evaluation of an independent panel of experts in collaboration with FNR, the advisory commission on state aid under the aegis of the economy ministry and experts of the health department.
The four public-private partnership (PPP) projects selected are ViewMind, IEE, LuxAI and Meracle Health. Covering a wide range of different applications, these projects have been allocated a budget of €6.10 million, almost 75% of which comes from the ministry of the economy and the FNR.
Validating Medical Products
By participating in such calls for projects, healthtech companies get to validate their products at the prototype stage before considering placing them on the market. This allows them to develop their products more quickly while also giving healthcare professionals and patients earlier access to new innovative products.
The process was facilitated by Luxinnovation’s provision of a specialised platform that allowed interested companies to be put in contact with potential partners.
“As part of these public-private partnerships, the Luxinnovation teams have particularly focused on monitoring the ideas submitted in the projects. We are particularly attentive to connecting the various partners interested in participating, in the public sphere and We are thus activating a key lever for innovation in our country”, adds Sasha Baillie, CEO of Luxinnovation.