CA Technologies supports the Innogrants for 5 years
The US company CA Technologies has entered into a five-year partnership with the École Polytechnique Fédéral de Lausanne (EPFL) to help drive innovation start-up projects. Over this period, CA Technologies will make a six-figure sum available to the institution.
Marco Comastri, President and General Manager EMEA (Europe, Middle East & Africa) of CA Technologies said: ”We are very pleased to have partnered with this renowned institute. It is a true win-win situation for both parties. With our financial support, we will enable EPFL to conduct projects from innovative young people, which would otherwise not have been feasible. This not only helps ensure Switzerland remain a centre of technology, but also serves to develop young talent, who are in great demand in the technology industry.“
CA Technologies will be contributing to a special fund at EPFL called The Innogrants which was set up in 2005 to promote innovation and support young entrepreneurs with new business ventures at EPFL. To date, the fund has enabled the creation of 30 start-ups; ten in each of the field of life sciences (biotechnologies and medical devices), in the broad field of micro- and nanotechnologies, including electronics and energy, and in information technologies (from computing to software and Internet technologies). To qualify for funding support, suitable projects are evaluated by the Head of the Innogrants program at EPFL. The projects must have a clear focus on either a product or service and be based on a vision with both considerable impact and future potential.
Adrienne Corboud Fumagalli, EPFL’s vice-president for Innovation and Technology Transfer said: “Innovation and entrepreneurship are a bet on people. By supporting young talent, CA Technologies will help EPFL in identifying opportunities and developing innovation.”
CA Technologies has a long tradition of supporting research and promoting innovation. Similar projects are currently in operation at other prestigious universities in India, Israel, the USA and other countries. These projects are dedicated to promoting innovation and technological development.
Swiss start-up turns to the Nasdaq
Last year Auris Medical raised more than CHF47 million in venture capital for further growth. This was the largest round of financing in Switzerland in 2013. The company has two drugs in development: an injection for tinnitus and a drug for hearing loss in the inner ear. The tinnitus medication has already started the third and most expensive stage of development, the phase III trial. The Basel company, which has its headquarters in Zug, intends to raise the necessary capital on the Nasdaq: the IPO should bring Auris a total of $95 million in new money.