BII announces that four companies have joined its new Venture House program. Formerly known as Creation House, the new Venture House program consists of the same 18-month long program with a risk-free convertible loan of EUR 1.3M. The change in strategy enables the BII to exclusively support the early-stage start-ups that have already benefitted from its 12-month Venture Lab program, created to support business acceleration, scientific and team development.
Following internal analysis, the BII team has determined that by leveraging the existing Venture Lab platform and offering an add-on funding opportunity, exclusively to those companies that have already spent a year at the BII and have built relationships with the team and its network, the BII will be better placed to support these companies in their next phase of growth.
Bobby Soni, Chief Business Officer at BioInnovation Institute, said:
“We are thrilled to present our new Venture House program. We have had great success in building our Venture Lab program as a solid platform for innovation and we believe that leveraging this existing platform will drive product innovation and ecosystem growth. By introducing this add-on funding opportunity, it will be even more attractive and exclusive for companies to be part of the program. We look forward to continuing to support these four innovative companies and accelerate their growth”.
In 2021, as part of the BII’s Venture Lab program that supports business acceleration, scientific development and team development, each Company received a risk-free convertible loan of EUR 500.000 plus access to labs and offices at the BII’s entrepreneurial ecosystem in the center of Copenhagen. Thus, after entering the Venture House program they have received a total of EUR 1.8M.
The companies the BII has accepted into the Venture House program are:
EvodiaBio: A bio-industrial company producing sustainable, natural aromas for the food and beverage industry. Its disruptive yeast-based technology enables consumers to enjoy the benefits of non-alcoholic beer without having to compromise on taste.
HEI Therapeutics: A digital therapeutics company developing the world’s first medical-grade home monitoring solution for patients with hypothyroidism based on state-of-the-art microfluidics, microtechnology and artificial intelligence.
Stimuliver: Spun out from the University of Edinburgh, Stimuliver develops a disruptive liver implant technology to treat critically failing liver function in humans. Many people suffer from chronic liver disease. By supporting the liver with Stimuliver’s 3D implants, it will help patients sustain critical organ function levels.
Ampa Medical: A company that works in the field of ostomy care and has developed an internal solution to replace the ostomy bag. With a new and disruptive technology, Ampa wishes to remove time-consuming, mental and physical obstacles related to the use of ostomy bags.