The Danish project Biomodics wins Caja Navarra’s ‘Eurecan European Venture Contest 09’, worth € 90,000

•  Caja Navarra undertakes to invest € 70 million in new projects before an audience of more than 500 entrepreneurs in Barcelona
• The contest, which carries the guarantee of Europe Unlimited and Barcelona Activa, rewards the best innovation-based business idea
• A further two projects receive special mentions: a development for electronic screens and a project to generate energy from biomass waste

The Danish biomedicine company Biomodics has won ‘Eurecan European Venture Contest 09’, the award which rewards the most innovative European project with the greatest potential. Biomodics has developed a nanotechnology-based treatment for catheters (tubes used to explore the organism) which prevents bacteria from building up and causing infection.

The presentation of the prize was the crowning point of the event ‘Eurecan, High performance investments!’, which saw 500 entrepreneurs and investors from 17 different countries visit Forum, the Barcelona International Conference Centre. ‘Eurecan European Venture Contest 09’ was run by Eurecan, CAN’s entrepreneurial project platform; Europe Unlimited, a European company specialising in innovation among entrepreneurs, companies and investors; and Barcelona Activa, Barcelona City Council’s local development agency.                                    

    

In order to confirm its ties with entrepreneurs, Caja Navarra undertook to invest € 70 million in new projects (€ 40 million in emerging technology and communications sector businesses and € 30 million in other sectors) over 2010. The bank will also cover 35% of the capital requirements identified during this work event with entrepreneurs.

To reward the projects which reached the final of the competition, CAN will invest 50% of the capital needed to finance the winning business project and will, within the period of a month, design collaboration propositions (financing / capital) for the other 24 projects. 

25 projects selected from the more-than-1,000 contenders at the ten semi-finals held in Brussels, Düsseldorf, London, Vienna, Copenhagen, Turin, Budapest, Pamplona, Luxembourg and Lisbon made it to the final of the Eurecan European Venture Contest. The 25 finalists were from Spain (5), Germany (3), the Netherlands (3), Sweden (3), Belgium (2), Denmark (2), Finland (2), France (2), the United Kingdom (1), Hungary (1) and Norway (1). 

The international investors who formed the panel of judges finally decided that the award and €-90,000 prize money should go to Biomodics, the project which they deemed had the brightest future and best contributed to European competitiveness and growth. This Danish company has developed a new biomedical treatment for catheters, modifying their surfaces through nanotechnology so that they release antibiotics and antimicrobial agents which prevent bacteria from building up. This technological solution outstrips all others currently available on the market.

A further two projects received special mentions: Second place went to the Dutch company ‘Liquavista’, which entered a new technology for electronic screens to replace traditional LCD displays which enhances their visibility and consumes very little energy. A project to create fertilisers and generate energy from biomass waste entered by the German company ASH DEC came third.

The panel of judges consisted of Spanish and international experts, and venture capital firms, such as Xelerator (Norway), Highgrowth Partners (Spain), Sunstone Capital (Denmark), IESE Business School (Spain), Sofimac Partners (France), DAD (Spain), NGN Capital (Germany), GIMV (Belgium), SEB Venture Capital (Sweden), Lansdowne Consulting GmbH (German), Nauta Capital (Spain), MCI Management (Portugal), Veraventure Oy (Finland), Capricorn Venture Partners (Belgium), Gamesa (Spain), Ysios Capital Partners (Spain), Add Partners (UK), Microsoft (Denmark), Earlybird (Germany), Truffle Capital (France), 360º Capital Partners (Italy), Axon Capital (Spain), Bio Innovations (Czech Republic) and CAN Corporation Seed Capital (Spain).

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