DyCare receives funding from the European Innovation Council
DyCare is a company specialized in the development of solutions for physical rehabilitation. It has been selected by the European Innovation Council as one of the 57 companies across Europe to receive funding for the second phase of the SME Instrument program.
Horizon 2020 European Program: SME Instrument – Phase 2
The SME Instrument, is a program within the European Framework of financing Horizon 2020, and which focuses on small and medium-sized companies that have the ambition to grow, develop and internationalize through a European innovation project.
In the first phase, the program finances the study of scientific viability and the market potential of the new idea with a grant of 50,000 euros.
During the second phase, the European initiative promotes projects towards presentation, development and commercial replication. The program aims to provide gradual, progressive and complementary support for the development of ideas that can revolutionize the market.
During this stage, 1,163 projects have been submitted of which only 124 passed the first filter, and the companies selected were able to travel to Brussels in order to defend their project. Of these 124 projects, 57 were selected by the European Commission, including the project developed by DyCare, a company that specializes in the development of solutions in the field of rehabilitation for patients with mobility disorders.
Each selected project will receive up to 2.5 million euros to finance innovation activities, studies, tests, pilot phases or merchandizing. In addition, companies will receive twelve days of advice and business acceleration services.
“With the pilot project of the European Innovation Council, we want to support entrepreneurs who have innovative ideas and a clear possibility of creating new markets. This first group of innovators that we have chosen to finance has, without doubt, this potential”, said the European Commissioner for Research, Science and Innovation, Carlos Moedas.
What does this European grant mean for DyCare?
At the beginning of DyCare, the company received acknowledgement by Bayer, thanks to the Grants4apps program to support health companies. The pharmaceutical company assisted with the infrastructure of co-working facilities and provided mentoring and coaching specialists during a period of six months. Beside its own resources, DyCare obtained a first financing of the European SME Instrument project of Horizon 2020, of which the company has now managed to obtain a second grant.
For the DyCare team, this program means a before and an after: “Without doubt, the SME represents an important acceleration of our project” says Ricardo Jauregui, CTO and co-founder of the company. “The most valuable contribution of having an SME – Phase 2 is not the financial aid, but the European Commission’s commitment to our project, reaffirming that we are on the right track, with the best equipment and the best solution for the market of the rehabilitation”, he adds.
Silvia Raga, CEO and co-founder, also believes that “this is about making a bet to change physical rehabilitation as we know it nowadays“, and adds that she considers “being one of the 57 selected companies in all of Europe is a prestige for DyCare”.
If you have any questions or want to receive more information about DyCare, do not hesitate to write us, we will be happy to get in touch with you.