Inven2 supports start-ups with seed capital
A shortage of capital in the early phase is a well-known challenge for start-ups. To help with this problem, the Norwegian Government allocated pre-seed capital funding in the national budget in 2015 and 2016. Nine enterprises in Inven2’s network were granted NOK 10 million in support, which was then matched by NOK 50 million in private capital.
They all develop products that the market sorely needs, from new advanced cancer therapy and a new way of treating Alzheimer’s disease, to monitoring of patients’ breathing and methods for identifying security holes in advanced IT systems.
The nine enterprises that were granted between NOK 1 and 1.5 million in support have contributed at least 50% in matching funds from investors. In all, the ten million triggered as much as NOK 50 million in private capital.
Technology for monitoring respiratory function: Respinor AS is developing a new technology based on ultrasound that will enable non-invasive monitoring of patients’ respiratory function. The company has started clinical trials. http://respinor.com/
New solution for people with hearing impairments: Listen AS is developing new software that, used together with a smartphone, will give many people with hearing impairments a new aid. http://listenas.com/
Proactive service for the detection and follow-up of prostate cancer: Myhere AS provides a specialist-based follow-up service for men over the age of 45 who want to take a proactive, informed approach to prostate cancer. www.myhere.no
Treatment of Alzheimer’s disease: Pharmasum Therapeutics AS is developing a drug to treat Alzheimer’s disease. The company was spun out of Lytix Biopharma. http://www.pharmasum.com/
Better IT security: Prosa Security AS is developing a new method for identifying security holes in complex IT systems. The method identifies security holes much faster than traditional methods. http://prosasecurity.com/
Immunotherapy for the treatment of cancer patients: Zelluna Immunotherapy AS
Development of the patient isolator Epishuttle to ensure safe transport of infectious patients. http://epiguard.com
Development of a kiwi extract that has a favourable effect on blood pressure, for use as an additive in food products. http://idia.no
Development of a diagnostic test for Alzheimer’s disease for use in the development of Alzheimer drugs and for early diagnosis. http://pre-diagnostics.com
About pre-seed capital on Innovation Norway’s website: