Bambi Medical has been awarded a grant of EUR 2.4 million under the SME Instrument Phase 2 program. This grant will allow the company to finalize product development and validate its solution through a multi-center clinical trial in 6 European countries. This will enable Bambi Medical to scale-up faster in Europe.
The SME Instrument is part of Horizon 2020, the EU framework program managed by the European Commission. The SME instrument offers Europe's brightest and boldest Small and Medium-Sized Enterprises (SMEs) the chance to request funding for breakthrough ideas with the potential to create entirely new markets or revolutionize existing ones. The phase 2 grant is for innovation projects underpinned by a strategic business plan.
“I am extremely proud of the team that brought the development of the company to such a high level and we received recognition from the European Commission in the form of this grant. The additional funding helps us accelerate in bringing our solution to the market and contributing to a better start of life for 130.000 preemies in Europe only each year” said the CEO and founder of the company Fabio Bambang Oetomo.
Fabio also emphasized that Bambi Medical is extremely pleased with the support that the company received during application process from Real1ze Projects B.V., PNO Consultants and the Netherlands Enterprise Agency (RVO).
The grant was awarded to Bambi Belt B.V. which is a 100 Bambi Medical daughter company.
This year 14 Dutch SME’s have been granted the SME phase 2 on a total of 4102 applications showing the competitiveness of the program.