On the occasion of the Royal Visit to the Grand Duchy of Luxembourg, UCLouvain announces that the University of Luxembourg, the FNR and the Luxembourg Institute of Health (LIH) have signed a letter of interest to establish partnerships in the framework of the launch of the new ‘VIVES Inter-University Fund’.
This new fund, which ultimately targets a size of around 50 MEUR, aims to translate the results of cutting-edge European scientific research into entrepreneurial projects with a high potential and strong societal impact.
By signing this letter of interest, the partners express their intent to i) underscore their cooperation in technology transfer ii) strengthen the financing of spin-offs and iii) accelerate their deployment in a cross-border ecosystem. This project also reflects the international nature of interuniversity research and the willingness to actively participate in the innovation challenge at the regional and European level.
The UCLouvain is at the heart of this initiative, relying on Sopartec, its technology transfer company and the manager of VIVES investment funds. In a few years, VIVES has become a reference in the set-up of university spin-offs, by bringing together seasoned entrepreneurs and board members, as well as top investors, resulting in a total amount of €268m cash raise for its portfolio companies. VIVES has notably contributed to one of the largest Series B rounds for a European university spin-off (Iteos Therapeutics : €75MEUR).
“With our new partners, we have the ambition to accelerate the creation of Luxembourg spin-offs. VIVES will be a powerful catalyst to translate scientific discoveries into meaningful projects useful for our citizens”. – Marc Schiltz, Secretary General of the FNR
“Setting up and financing a spin-off based on research in healthcare is a real challenge. Having VIVES as a financial partner will strengthen our ambition to launch breakthrough spin-offs that fully align with development of translational science at LIH” – Dr Ulf Nehrbass, CEO of the Luxembourg Institute of Health.
Find out more on www.vivesfund.com