EIT Health and the European Investment Fund (EIF), with the strong commitment of the European Commission, announced the contribution of EUR 150m from EFSI to the European Venture Center of Excellence (VCoE) programme. The announcement came during the annual HealthTech Innovation Days (HTID) event, taking place 5/6 October,2020.
VCoE is a first of its kind open innovation platform in the Life Science sector in Europe aimed at fostering collaboration and investment sharing between the venture capital industry and corporates in order to boost investments in highly innovative digital health and life science start-ups. This enhanced collaboration and investment capacity are expected to boost Europe’s innovative life science ecosystem, support breakthrough technologies, ensure products and services are commercialised and scaled in Europe, and help attract talent and innovation from beyond our borders.
The VCoE meets the urgent need to create a bridge between different types of healthcare investors, including Venture Capital funds (VCs) and industrial, academic, and Technology Transfer Office (TTO) investors, as well as insurance/payer organisations and will facilitate connections by bringing program members together at exclusive member events on a bi-annual basis.
The event featured speeches from French President, Emmanuel Macron, as well as Thierry Breton, European Commissioner for the Internal Market.
Jan-Philipp Beck, CEO of EIT Health commented: “At the EIT Health Summit in December 2019, the President of Paris Region Valérie Pécresse, announced that the Region would host and finance the installation of the operational headquarters of the Venture Centre of Excellence in Paris, alongside EIF’s teams in Luxembourg. With the strong financial backing from the European Commission, the VCoE will break down silos between key ecosystem players, and concretely support Life Science and healthcare innovation. Thanks to EIT Health’s positioning as one of the world’s largest Healthcare consortia, we will therefore be able to facilitate the access to market of high-quality solutions meeting real-world patient and citizen needs.”
For more information, visit the official VCoE page.