Project description
Innovative software platform for the development of new chemicals
New chemical compounds are mainly designed and characterised using a traditional trial-and-error experimental approach. Modern-day developments and increased competition require chemical companies to find innovative solutions to reduce the time and cost of new chemicals discovery. Bytelab Solutions in Spain is developing a software-as-a-service platform that will bring chemical research and development to a new level. The platform includes molecular modelling and artificial intelligence tools for the efficient development of new compounds. The technology will significantly shorten the development time of new chemicals in comparison to traditional laboratory approaches. The EU-funded NEXTMOL project will provide support in growing the company, attracting chemical industry customers and raising private investment funds.
Objective
Our society and economy are profoundly influenced by chemicals. Chemicals have helped to raise our standard of living, but new challenges steadily emerge and novel chemicals are demanded, representing a key element of the commercial success of tomorrow's industrial products and competitiveness of industry.
Up to now, chemicals have been designed and characterized mainly using experimental techniques. However, with today’s increased competition, the experimental trial-and-error approach has become too slow and inefficient. Chemical companies need solutions that reduce the time and cost required to develop new chemicals.
Bytelab Solutions develops NEXTMOL (www.nextmol.com) a Software-as-a-Service platform for chemistry R&D. It provides molecular modelling and artificial intelligence tools to speed up the development of safe and sustainable chemicals. NEXTMOL shortens the path to chemical innovation accelerating the development by 10x over traditional approaches based exclusively on the laboratory.
Our greatest challenge as a company is to shift from organic growth to scalable growth. Initial sales and grants have allowed us to grow organically, develop our product to an early-adopters beta release, and gain the first customers. However, it is now the time to aim big and build a scalable company able to provide innovative, reliable and secure deep tech solutions to many customers in the chemical industry. This project will prepare us to raise private investment in Q3 2022.
Fields of science
Keywords
Programme(s)
- HORIZON.3.2 - European innovation ecosystems Main Programme
Funding Scheme
HORIZON-CSA - HORIZON Coordination and Support ActionsCoordinator
08014 BARCELONA
Spain
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.