MedTech Fund
The fund targets innovations/companies in the MedTech domain that have passed the initial early stage. The fund’s objective, and thus the project's goal, is to enable companies to accelerate their growth. More specifically, the MedTech Fund allows companies to lease equipment rather than having to purchase it.
As a Twente startup, you could use some support, as developing something new requires both time and money. Especially the purchase of (medical) equipment can be a significant expense. The MedTech Fund assists companies by making equipment available to facilitate further research.
One of the companies that has benefited from the MedTech Fund is Solstice Pharmaceuticals from Enschede. Founder Wim van Hoeve shares his appreciation for the existence of such a fund. “We produce a contrast agent for ultrasound imaging, using microbubbles that we are the first company in the world to produce identically. This allows doctors to make faster and more affordable diagnoses (compared to, for example, an MRI scan). Our contrast agent makes organs highly visible and clear in images. Additionally, there are also promising therapeutic applications for this technology.”
For the development of the innovative contrast agent, Solstice used equipment provided by the MedTech Fund. “Purchasing the equipment ourselves, even with the support of several investors, would have added a considerable financial burden. This is especially true as the equipment must meet strict medical standards. It’s wonderful that resources like these can support us in the successful development of the company.”
Van Hoeve believes that, beyond providing equipment, the MedTech Fund also contributes to retaining businesses in the region. “Just as in places like Switzerland and the United States, there is a ‘valley’ for lab-on-a-chip technology here in Twente, which we also benefit from. This enables us to keep the production of our innovation within the region, without relying on foreign facilities.”
Solstice Pharmaceuticals’ innovation is currently undergoing preclinical testing, with human trials expected to begin next year. “We aim to bring our product to market within two to three years,” says Van Hoeve. “It’s fantastic that we can do this from Twente. Lab-on-a-chip technology is well-established here. Regional ‘products’ like ours belong in Twente, and the MedTech Fund helps us achieve this.”
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