Here on the Promoting Enterprise News Portal we want to bring you stories from the pandemic, in particular the information that you, our Promoting Enterprise community, can benefit most from.
Previously we have brought you stories and examples like that of Catherine Lorent, a Belgian seamstress who started with acts of solidarity and then innovated and received national aid to keep her business going. We have also looked at tips on how to support small businesses as a consumer, measures for SMEs when the effects of the pandemic started to be felt, the ongoing support granted under the Commission Temporary Framework, and other Commission funded coronavirus projects.
Today on Promoting Enterprise we are looking at some initiatives that were launched in response to the pandemic in order to mobilise the brightest minds, bring innovators together with those in need of solutions and, most importantly, find solutions to ongoing issues caused by COVID-19. Read through the featured initiatives below and be sure to visit their websites to learn more about their work.
E-health at home COVID-19, The Netherlands
The COVID-19 outbreak has meant that healthcare providers have had to make an extra effort to care for people with vulnerable health conditions living at home. In the new situation of social distancing, it was necessary for the health providers to adjust or extend their care for this vulnerable group.
In order to support health care providers during the COVID-19 crisis, a temporary emergency fund was made available by the Dutch Ministry of Health, Welfare and Sport. This fund, executed by the Netherlands Enterprise Agency (RVO), supports health care providers in purchasing or leasing and implementing e-health applications to ensure continuity of care, in this case remote care or telecare. The 23 million-euro fund was opened twice between 26 March and 8 May and attracted more than 1700 applicants of which 460 were funded.
Find out more about the scheme here.
Corradino Correction Facility, Malta
Prisoners at the Corradino Correction Facility in Malta are helping to combat the outbreak of COVID-19 by producing masks and other personal protective equipment. These masks are being used by officers and residents of the facility and by other government entities. The Minister for Home Affairs, National Security and Law Enforcement in Malta expressed his gratitude for the initiative, and highlighted the importance of showing unity and solidarity. The administration of the facility said that despite the fact that prisoners have made mistakes in the past, they are now supporting society during such a difficult moment for the country.
Be sure to come back to the News Portal, and follow us on Twitter to stay up to date with the latest measures and new support granted under the Commission Temporary Framework or to learn about other initiatives in response to COVID-19.
With a good idea, some investment and hard work, start-ups in the health and life sciences fields can get started in their local market. But if these firms are going to achieve meaningful growth, and if their innovations are going to benefit a wider audience, they will have to go abroad – which means understanding new regulations, a different culture and an unknown set of market realities.
This is where Product/Market Fit comes in. An EIT Health Accelerator programme, Product/Market Fit helps start-ups that have already established themselves in one market and are ready to expand beyond their borders. The support this programme offers has an estimated market value of EUR 25 000, but the opportunities it provides can be worth much more than that.
“Based on our experience in the Accelerator, grownup start-ups start needing support with going to other markets,” according to Katrien Van Gucht, a Co-Coordinator of the EIT Health Accelerator Strategy and Digital Health Program Manager at EIT Health partner IMEC. “We wanted to get in that sweet spot, right when they are ready to expand,’ said Johnny Waterschoot, who project manages European open calls for IMEC. “We are looking for companies that are ready to go beyond their borders, but lack the necessary funding to do just that. This programme will help them decide what markets to address next.”
According to Van Gucht, companies that are mature enough to qualify for this programme have typically raised about EUR 500 000 in investment and generally consist of two or three people. She said the companies obtain great value from the market testing that the programme can do. “The trial and error ratio of going out and seeing for themselves if they can make it in another market, we reduce this a great deal for them. They will see if they still need some work before they start growing in that market. Or the outcome could be that this market is not for them.”
If the entrepreneurs have the passion and drive to expand, the Product/Market Fit programme can provide them with many of the other tools they need.
Interested in finding out how to apply? Read more about the process here.
For more information: https://eit.europa.eu