Dutch State Secretary, Mona Keijzer, announced that this new funding will support a number of start-ups that are looking at reaching new levels in these industries
The Dutch government has announced that they will be pumping in €24 million for start-ups that are knowledge-intensive. The allocated funds will look to boost these start-ups through the research that will be gained.
The whole project involves three major collaborations between innovative companies, universities and a number of institutions focusing on research with investors in AI, Med-tech and water technology.
According to Innovationorigins, this is the second tender of this venture called the Thematic Technology Transfer (TTT) scheme.
Previously in 2019, the Dutch government did the same form of investment in the medicinal industry, smart systems, circular solutions. According to the Dutch government, this type of support has resulted in a number of investments in start ups that focus on med-tech in biological drug against thrombosis.
The Netherlands Enterprise Agency and the Netherlands Organisation for Scientific Research (NWO) has selected the following industries for the scheme and will each receive €8million of the €24million available.
AI investments will focus on healthcare and security, coordinated by the University of Amsterdam, 5 Dutch Universities, four medical centres and the Center for Mathematics and Computer Science together with venture investor LUMO Labs.
Andy Lurling, LUMO Labs founding partner said that the collaboration is already working well:
“Thanks to this TTT.AI consortium, together we are much better able to identify promising initiatives and give them a flying start. Pioneering research and innovative development in the field of AI can thus find their way into society faster and better. Early-stage funding is indispensable to make the step from idea to impact.”
This consortium consists of four technical universities, medical university centers based in Rotterdam, Nijmegen and Maastricht and the Amsterdam-based venture investor Innovation Industries.
The team will be joining forces to develop more successful medical technology. Together, they are looking to build a program that will provide knowledge and expertise to young companies. The ultimate goal is to quicken market passages of med-tech innovations.
Netherlands Enabling Water Technology (NEW) will also receive the 8million funding. The water technology circle consists of Westus, University of Groningen, Deltares and Investment and Development Company North Netherlands (NOM). NEW provides support to startups with a focus in water technology to enhance the transition to a circular and climate-neutral economy.
The funding from NEW will enable several ideas to become reality in the water technology industry.
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