UgenTec receives €50.000 grant by European Union

August 14, 2017 News BioVox

Under guidance of MINT, the Belgian PCR automation software company is one out of two Belgian companies to be granted and part of 36 grantees amongst 507 requests.

UgenTec, the Belgian PCR automation software company is approved for the SME Instrument Phase 1 by the European Horizon 2020 fund. The Instrument Phase 1 grant is worth €50.000 and will be used for a feasibility study of new PCR markets outside of clinical diagnostics.

UgenTec focuses on the clinical diagnostic market and their platform already supports tests for sexually transmitted infections (STIs), respiratory diseases, gastrointestinal diseases, oncology and more. Its artificially intelligent software allows laboratories to automate the manual interpretation of raw results generated by PCR tests, resulting in faster & more standardized results.

“PCR is a widely adopted diagnostic technique” says Tom Martens, managing director at UgenTec “FastFinder, our solution for automated PCR interpretation, is being used in clinical diagnostic environments in multiple countries. Thanks to MINT Europe, these European funds can now be used to thoroughly investigate the potential in other diagnostic environments such as seed, food & animal health”.

“We immediately recognized the innovative nature of UgenTec’s core technology” says Sofie Meerschaut, Senior Consultant at MINT, “thanks to close collaboration with UgenTec, we understand their current business success and the potential for other markets. The combination of this strategic understanding, both technically and businesswise, and our deep EC grant expertise, allows us to ensure access to EC grants for UgenTec.”

The SME Instrument Phase 1 is one of two available grants and is widely used to perform a technical & commercial feasibility study before applying for the SME Instrument Phase 2. When the generated business plan is approved as sound & strategic the company receives access to the SME Instrument Phase 2. This additional grant is used to execute the business plan and unlocks €500.000 to €2.500.000 in funds.

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