The European Commission has awarded 38 EU companies a total of €176 million in funding under the European Innovation Council (EIC)
€2.4 million was awarded to SepTec, a spinout from DCU tackling a multi-billion euro opportunity – the rapid detection of sepsis.
Competing against four thousand other applications, co-founder Kellie Adamson explains the process:
” This application has been a year in the making and the process is time consuming and intense, but we spoke to people who had gone before us and got as much feedback as we could. Using a consultancy firm helped us with the application but we were involved every step of the way. This funding will help us to achieve our ambition to get to clinical trials by the end of 2022”
With Enterprise Ireland and Science Foundation Ireland funding also secured, Kellie explains the impact on SepTec:
”Without public funding SepTec would not have made it out of the lab. The SFI funding research grant was about looking at the economic and societal impact, the value your product can bring. This has really helped us with investors”
Hear more from Kellie Adamson co-founder of SepTec,
at Dublin BIC’s quarterly Funding & Scaling event on March 3rd, 2021.