LAB+ Opens Call for Funding Science and Technology-Oriented Startups

LAB+, the company builder of the Institut Pasteur de Montevideo, has announced a new international call for 2024. This initiative seeks to unite leaders in research and innovation who are committed to creating and advancing science and technology-based startups within the life sciences sector. The application deadline is September 15, 2024.

Funding Scope

The funding is designed to support disruptive innovations that lead to the development of products and/or services derived from high-quality research or technology in the life sciences, with potential for intellectual property protection. The focus is on revolutionary projects at the intersection of medicine, biology, and technology, with the goal of enhancing the well-being of humans, animals, and the environment. Areas of interest include, but are not limited to:

• Healthcare
• Medical Technology
• Drug Discovery and Pharmaceuticals
• Biotech Diagnostics and Therapeutics
• Agricultural and Food Technology

Eligibility Criteria

Applications are invited from scientists and entrepreneurs with recognized research training (PhDs, MDs, chemists, engineers) who have exciting, original, and disruptive research, development, and innovation projects with significant commercial or socio-economic potential. Projects must have a strong scientific basis and current or future intellectual property.

Evaluation Criteria

Proposals will be evaluated based on the following criteria:

• Highly innovative technology with solid scientific foundations.
• Well-defined, feasible, and achievable objectives for the project period.
• Clear definition of the market problem being addressed and an analysis of market potential.
• Comprehensive understanding of the current state of the art in intellectual property.
• Motivated teams with outstanding scientific careers and a strong commitment to multidisciplinary collaboration to create and develop a science-based startup.

Support and Benefits

Selected startups will receive:

• Seed stage funding of up to US$ 750,000.
• Inclusion in a top-tier scientific ecosystem.
• Access to international expertise in business strategy, innovation, business development, administrative and accounting operations, and intellectual property management.
• Laboratory facilities (30 m²) and open access to IP Montevideo’s central facilities for a limited number of projects where infrastructure is crucial for development.

Application and Selection Process

The selection process consists of four steps:

1. Screening and pre-selection.
2. LAB+ staff review and co-working.
3. Due Diligence.
4. Investment Committee.

To apply, candidates must complete the online form with non-confidential information: bit.ly/LABplusCall2024.