On 28 and 29 November 2018, the European Innovation Council (EIC) and Medtronic, a leader in the world of medical technology, gathered 20 companies to discuss the transformation of healthcare and promote business partnerships. VibroSense shared its solutions for early detection and diagnosis of nerve injuries in hand and foot (peripheral sensory neuropathy) caused by diabetes or by chemotherapy treatment of cancer.
Small and medium enterprises (SMEs) have been playing an increasingly crucial role in the development of new products in the medical device industry. Quick adaptability, the capacity to identify market niches and intrinsic innovative potential, have turned these companies into relevant players in the healthcare industry worldwide.
However, at the stage when SMEs are growing, they need considerable financial resources to continue investments in product development and clinical trials, to bring their products to market faster. To tackle these challenges the EIC pilot and Medtronic promoted a matchmaking and business acceleration event in Tolochenaz, Switzerland, home of Medtronic’s EMEA headquarters.
At the event, Ger Hill, Senior Director Global Innovation at Medtronic, talked about Medtronic’s innovation strategy:
- “For a company like Medtronic who has currently reached around 30B$ in revenue, maintaining revenue growth requires us to draw on innovation not only from our substantial organic internal innovation, but also from external partners. There are a lot of smart people who don’t work at Medtronic, and we want to collaborate with them to turn their ideas and concepts into products and solutions for patients and Medtronic.”
VibroSense Dynamics was one of the 20 companies backed by the EIC pilot that took the stage and shared their innovative health care solutions for medical devices and therapies.
- “We’re very happy to have participated in this event promoted by the EIC pilot. We believe our solutions are aligned with Medtronic’s business objectives and we have hope to start a partnership that can help us scale-up our business”, says Toni Speidel, CEO VibroSense Dynamics AB.
This project has received funding from the European Union’s Horizon 2020 research and innovation programme
About VibroSense Dynamics AB (publ)
VibroSense Dynamics AB (public) develops and markets efficient systems to support early detection and diagnosis of sensory neuropathy, i.e. disease of large nerve fibres and nerve trunks in e.g. legs and arms. The Company, founded in 2005, has been listed on Spotlight stock market since May 2015.