The Innovation Space was inaugurated in November 2013 to promote the creation of innovative ventures that aim to develop products or services in biotechnology, and focused on human and animal health.
Partially financed by the Fund for the Structural Convergence of Mercosur (FOCEM), it offers space to set up projects that have the potential to develop products in collaboration with the institute’ scientific staff and technological support.
Created in November 2013 and located in the Innovation Space of the IP Montevideo, BIOESPINN is the first incubator for human and animal health companies in Uruguay.
Funded partially by the National Research and Innovation Agency (ANII), BIOESPINN provides flexible space and competitive installation conditions for the creation of inter-institutional ventures, spin-offs and start-ups, to conduct innovative research and developments for the global market.
In August 2017, the Institut Pasteur de Montevideo and the Centre for Technological, Business and Social Innovation (CITES) —the regional technological incubator promoted by the Argentinean Group Sancor Seguros— signed the CITES-Pasteur agreement that seeks to promote the creation of new technology-based start-ups.
In this context, the joint program made an international call of expression of interest to identify scientists interested in doing research and development that culminates in the creation of start-ups aimed at solving real problems in Biomedicine, Bioinformatics, Genomics, Biotechnology, Bioengineering and Computational Biology. To support this initiative, CITES committed an investment of US$ 500,000 per project.
Around 110 applications were submitted, from which a scientific selection committee chose eight on a first round. After a second stage, four passed through to the finals.
During 2018, the groups of scientists that presented these projects have been working on their proposals to reach the first round of investors. Finally, the selected projects will receive space for incubation, access to equipped laboratories, management support, legal and financial consulting services, and links with clients and investors.