The financers intend to found start-up companies for particularly promising research projects in the field of medical care or nutrition, for instance diagnostics or medical devices, and to promote and accompany these professionally for a period of five years.

Spinnovator will provide 40 million euros over the next five to finance the start-ups; half of the funds will come from Vesalius Biocapital, the other half from the German Federal Ministry of Education and Research (BMBF) in the form of project-linked funds. Further investors may also participate in the start-up ventures.

However, most of the projects will come from Ascenion’s partner institutes. These are 24 public research institutes of the Helmholtz and Leibniz Association as well as the Hannover Medical School (MHH), Germany. The project selection will concentrate on commercially promising innovative projects which would notably advance medical care or nutrition, e. g. diagnostics, therapeutics or medical devices.

Further information: http://www.ascenion.de/