The second edition of Innovation Forum was promoted by the National Research and Innovation Agency (ANII), the Ministry of Industry, Uruguay Innovation HUB, Uruguay XXI, NewLab, he LATU and the Pasteur Institute of Montevideo through your company builder LAB+, among other organizations.
In this second edition the theme was “Disruptive Innovation in Life Sciences: from the laboratory to the market. National and international scientists who carry out different startups in life sciences that emerged from disruptive innovations that resulted in solutions to both human and animal health problems were presented there.
“At a global level there are different models of how to try to encourage scientists to go from the knowledge they generate in the laboratory to trying to generate a prototype or a solution for the market and for society. In the particular case of Pasteur Institute of Montevideo, After analyzing for a long time and having studied many models, we were convinced by a mixed model where the institute is associated on equal terms with a venture capital fund where they provide the cash and capital. The institute contributes its know-how, its ecosystem and provides infrastructure,” he explains to Scope Carlos Batthyány, director of the Pasteur Institute of Montevideo.
Scientists are offered the opportunity to access a relatively considerable amount of investment, which allows them to at least take the first steps in the development of initiatives.
“The seed capital tickets are $750,000 for a period of up to two years and then they can go to a round A and a round B, that is, they can access much more capital. What do we ask of you? “That they have a project that is absolutely new, that is disruptive in life sciences, that is protected by intellectual property and that they want to work as they are working in the laboratory,” he says. Batthyány.
The institute then provides support that in some way also transforms it into an investor in the project. “He is beginning to be accompanied by people who have already had experience in life sciences, in creating startups and at the same time with people who have business knowledge, I think that scientists do not have. Then types of directories begin to be created where the scientist is one of the directors, but at the same time he is created as a multidisciplinary group of directors who accompany him in this new learning,” mentions the Pasteur director.
Projects underway
Two projects were selected in the first of the calls. Is about Scaffold Biotech, 3D vaccines for agriculture, Matías Machado and Agustín Correa. The initiative proposes a novel platform that uses artificial intelligence tools to generate innovative vaccines for diseases that affect animals.
The other initiative chosen was B4 RNA, that proposes new Arns for the early diagnosis of cancer, a project that is in charge of Juan Pablo Tosar.
Additionally, at the event they presented Eolo Pharma, drugs for the treatment of obesity and diabetes, by Pía Garat, which stands out for being the first startup initiative to carry out this type of experiments on humans. He did the same Meta Bix Biotech, a tool to detect viruses and bacteria based on algorithms, which is in charge of Laura Maccio.
“In the future, there are eight projects under study,” says Batthyány and adds: “The idea is to attract scientists who want to work with us and that is done through international calls. What we offer? The capital, the know-how and whoever wants a place in the institute.”
For the scientist, the path taken by the institute through these projects is important, but there is still a long way to go. “I think that Uruguay He is taking his first steps. With respect to other countries of Latin America, It started later, we are smaller, but we have great advantages because from the political, economic and social point of view as well as great stability. The country has a national system of researchers that is currently recognized as a powerful system that creates talents, something that was previously only seen in Argentina. Today Uruguay is recognized that way. So I would say that today we are in the middle of the table and that we want to push towards the top positions,” he says. Batthyány to Ambit.
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What is LAB+
LAB+ It is a joint effort of Pasteur Institute of Montevideo and the capital fund FICUS Advisory, with the vision of creating a Venture Builder based on life sciences that promotes innovative scientific knowledge generated in Uruguay to transform them into startups.
The objective is to support scientists with an entrepreneurial profile in the life sciences who have disruptive ideas and scientific ambitions to create sustainable and successful companies. The lab selects its projects through calls, and those selected not only receive funding, but also mentoring and legal support.
So far there are four projects selected, the first call made earlier this year. Other calls are expected in the short and medium term
Source: Ambito
