INNOLABS project aims at supporting cross-sectoral collaboration among SMEs from ICT, BIO, Health and Medicine (IBHM) sectors, with a practical application of results mainly to m-health and personalized e-health for elderly populations in both rural and urban areas.

The innovations created by the combination of different value chains need to get to market fast and adapt to constantly changing end-user needs. INNOLABS will study the characteristics in market dynamics and specificities for innovations created by merging ICT and biomedical research.

INNOLABS is based on three main concepts:

• Long term sustainability. INNOLABS will facilitate access to (i) private Venture Capital equity; (ii) new funding sources, like for example crowdfunding; (iii) promote additional public funding opportunities and instruments to the participating teams, highlighting their characteristics, advantages and inconvenients.
• Support services. INNOLABS will provide non-monetary support measures, such as expert platforms with beta-testers or matchmaking tools.
• Funding. INNOLABS will directly provide to SMEs financial support in the form of direct funding, innovation services and innovation vouchers for external consultants.

Selected SMEs will have the possibility to opt to a fast lane acceleration process: 3 months of execution for the same amount of funding and intense support. This innovative approach specifically respond to the needs of fast markets like the mHealth market.