Author: Leevi Törmäkangas
Excedea helps Icare Finland secure Eurostars funding
Excedea had the pleasure of co-operating with Icare Finland and producing a winning funding application to the Eurostars funding programme. As a result, Icare Finland and their Slovenian partner were granted ca 400,000 EUR to boost their collaborative R&D project. For Excedea, this project stands out as one of the more notable public funding client cases. It marks a milestone, as Excedea has now facilitated a total of 17 victorious Eurostars applications, with a success rate of over 80%
Icare Finland is a part of Revenio Group Corporation, a public health tech company listed on the Helsinki Stock Exchange. Icare Finland’s core business is based on selling handheld intraocular pressure measurement devices and probes, and they have achieved a market leading position in this segment. The Icare products utilise a unique and patented rebound technology, which renders the measurement process precise, swift and painless to the patients. Hence, the Icare tonometers are being used by medical professionals across the world to measure intraocular eye pressure, which is vital for diagnosing glaucoma.
As a global technology leader, Icare has a strong track record of commercialising innovative medical devices. They have made significant investments in R&D throughout the company’s history, and continuously seek to expand their portfolio by introducing new offering. In the ongoing Eurostars project, Icare are developing a novel method for measuring corneal sensitivity.
“By co-operating with Excedea, we were able to determine that our R&D project was competitive for the Eurostars programme. We gave Excedea’s funding team the input and initial project material, after which they fine-tuned our narrative to fit into the program’s evaluation criteria and finalised all the necessary application documents. This collaboration made the Eurostars process very straightforward for us,’’ states Mika Salkola, Director of R&D at Icare Finland.
Excedea’s funding experts gathered information by conducting desktop research and interviewing key personnel at both Icare and their partner company. As a result, Excedea’s team was able to produce a comprehensive project plan and formulate argumentation for the Eurostars programme’s assessment.
“With a world-class technology that can create significant health benefits to the society, Icare Finland is in an excellent position to attract public funding. In addition, this R&D project involved an element of multinational co-operation, which is a prerequisite for the Eurostars programme,” explains Jaakko Ojanen, Excedea’s Public Funding Manager.
Excedea is a market leading expert in European Union funding for innovation and international growth. Excedea’s team has produced more than 340 winning public funding applications since 2007.
Eurostars funding is aimed at European small and medium-sized enterprises that are undertaking R&D projects together with a partner from another participant country. The last deadlines of the current Eurostars budgeting framework are due in 2020. Excedea’s funding experts have listed some key factors that increase the likelihood of securing Eurostars funding in this article.
Does your company have an innovation that addresses a societal problem?
Is your company known for scientific and technological excellence?
Does your solution have demonstrated and strong market potential?
If the answer is yes, it is likely that you can mitigate the risks associated with your R&D and business development efforts with public funding.
If you are interested to discuss public funding opportunities in further detail, please contact us.