The Fongit Innovation Fund (FIF) has awarded three Geneva-based life science projects for their groundbreaking innovations. A CHF 100,000 seed loan has been granted to TheraPPI Bioscience, whose technology addresses drug-resistant cancers and non-curable rare diseases. A second seed loan of CHF 100,000 has been awarded to MPC Therapeutics SA, a University of Geneva spinoff, for their work on fighting degenerative diseases through cellular rejuvenation. A CHF 50,000 grant has also been awarded to dEEgtal, a project of the University of Geneva, for their innovation using artificial intelligence to improve epilepsy diagnosis.
The Fongit Innovation Fund (FIF) fosters innovation and the scale-up of promising companies from the Canton of Geneva that are working towards the United Nations Sustainable Development Goals (SDGs). The FIF is supported by the State of Geneva, the Fondation Genevoise pour l’Innovation Technologique (FONGIT), the Geneva Chamber of Commerce (CCIG), the United Nations International Trade Center (ITC) and the United Nations Environment Agency.
The FIF supports innovative technological startups, scale-ups, and small and medium enterprises (SMEs) at different stages of their journey with three types of financing options: the FIF Grant (up to CHF 50,000), the FIF Seed Loan (up to CHF 100,000) and the FIF Growth Loan (up to CHF 400,000). Three new recipients were just announced:
Seed loan of CHF 100,000 awarded to TheraPPi Bioscience
TheraPPI Bioscience has been granted a FIF seed loan of CHF 100,000 for their innovative work on modifying protein interactions to offer treatments for drug-resistant cancers and non-curable rare diseases. TheraPPI Bioscience’s technology was originally developed at the CRCL (University Claude Bernard Lyon 1, Inserm, Centre Léon Bérard and CNRS) in Lyon, France.
Seed loan of CHF 100,000 awarded to MPC Therapeutics SA
A spinoff of the University of Geneva headquartered in Plan-les-Ouates, MPC Therapeutics SA works on fighting cancer and degenerative diseases by improving the effectiveness of cell therapies through cellular rejuvenation. The FIF has awarded MPC Therapeutics SA with a seed loan of CHF 100,000 for their novel approach using proprietary first-in-class small molecules specifically designed to target mitochondria and initiate metabolic reprogramming.
Grant of CHF 50,000 awarded to dEEgtal
Epilepsy affects nearly 1% of people worldwide. Despite encouraging advancements in its treatment, epilepsy is still difficult to diagnose. Supported by the Science Innovation Hub of the University of Geneva, dEEGtal is building on recent advances in artificial intelligence to help doctors diagnose epilepsy faster, helping patients reduce their risk of seizures. The FIF has awarded a grant of CHF 50,000 to dEEgtal to further develop their innovative project.
Extended deadline for FIF applications
The FIF meets several times a year to evaluate and award startups with funding. The next deadline to apply for the FIF has been extended to 17 November 2023. Companies may learn more and apply here.
On dEEgtal picture : Stefano Gallotto, PhD; their HUG advisor Prof. Margitta Seeck; Eric Ménétré, PhD
(Press release)
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