The Romanian startup .lumen, which produces glasses for the blind, has qualified for the semifinals of the EIT Health Catapult, a unique competition that offers consistent benefits to startups that develop innovative solutions in the field of health, as well as exposure to investors and top experts in industry. The grand final of the competition will take place on December 1-3 in the form of an online event, and the project that wins the Audience Award will be displayed on the digital panel on the Nasdaq Tower building in New York.
The EIT Health Catapult jury selected the top 42 European teams from hundreds of entries, covering three areas of expertise: Biotech (Biotechnology), MedTech (Medical Technology) and Digital Health (digital solutions for health). The semifinalist teams benefit from an intensive mentoring program for two days but also from an extended perspective in order to optimize the business model. They team up with mentors and present their projects to a jury of investors between December 1-3.
The 21 teams with the best business concepts will go further in the Grand Final. The first three startups in each of the three categories will receive funding and access to the EIT Health network from investors and top players in the healthcare field in Europe and beyond. Moreover, the winner of the Audience Award will have the project displayed on the famous digital panel located on the Nasdaq Tower building in New York.
Since 2016, EIT Health Catapult has supported 231 companies, of which 98% are still active in the market. To date, more than 400 investors and 3,000 health professionals have been involved in the program. The competition is also an excellent opportunity for industry players to get an overview of an elite group of European startups ready for investment and eager to cooperate with experienced partners.
One of the two teams qualified for the EIT Health Catapult semifinal in the MedTech category is the Romanian startup .lumen, which produces glasses that use AI technology to help visually impaired people get around. Through the solution produced, the company aims to take over and improve the benefits offered to the blind by a guide dog.