The German Federal Ministry of Education and Research (BMBF) is joining forces with the venture capital firm Vesalius Biocapital and the technology transfer specialist Ascenion, in a €40 million fund set up to exploit the results of publicly-funded research.
The Spinnovator will select promising research that can form the basis of start-ups and then support these companies over five years.
“Adequate financing is an important prerequisite for innovation,” said Georg Schütte, State Secretary at the BMBF. “Our commitment to the Spinnovator is therefore part of our strategy to exploit the potential of top-level research in Germany, thereby promoting advances in healthcare and creating new jobs.”
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