Biovotec Has Won The SME Instrument Stage 2 Project!
Biovotec is developing advanced wound care products combining functionality with an unprecedented competitive price, offering an unrivaled advantage for both patients and clinicians. Biovotec is using the unique raw material obtained from egg shell membranes. The uniqueness of Biovotec's products is getting more and more attention and has the perspective of becoming the preferred solution in the market for hard-to-heal and chronic wounds.
First phase development has been supported by the NFR through an extended BIA project and EU grants, and together with Oslo Medtech, Biovotec applied for the SME instrument stage 2 project grant. It has to be said that only 3-5 % for the projects that apply for this type of grant are funded.
And yesterday it was final; Biovotec won the SME instrument stage 2!
CEO and co-founder Ralf Schmidt is naturally excited and says; “This is a great achievement for us mainly due to two aspects with this grant of 1.3 Mil Euro and the 15 Mil NOK which we just raised in private equity we can go full speed ahead with our development in the years to come. But also the international recognition we receive by obtaining this grant is invaluable. Already, as we received the SME1 grant, several European VC have shown their interest and I assume this will accelerate now as we are part of a very small group which has managed to get this grant on the basis of both commercial and scientific evaluations! Seeking European grants is not easy and we would not have been able to do so without the experts here at Oslo Medtech- they were instrumental. For a yet small company like us Oslo Medtech is just an great partner to have!”
Extract from Oslo MedTech's Newsletter