Health Investments in Central and Eastern Europe

Project Information

HICEE

Grant agreement ID: 101114010

DOI

10.3030/101114010

Project closed

EC signature date 1 December 2023

Start date 15 November 2023

End date 14 November 2025

Funded under

• European innovation ecosystems

Total cost

No data

EU contribution

€ 1 331 851,25

Coordinated by

EIT HEALTH EV
Germany

Periodic Reporting for period 1 - HICEE (Health Investments in Central and Eastern Europe)

Reporting period: 2023-11-15 to 2025-11-14

Summary of the context and overall objectives of the project

Across Europe, access to early-stage investment has been uneven. In Central and Eastern Europe in particular, many promising ventures have emerged, but average investment rounds have remained smaller and fewer investors have been active compared with more developed ecosystems. This has reflected not only lower funding levels, but also limited critical mass, with fewer investment-ready projects, fewer specialised investors, and weaker cross-border engagement.

One of the main bottlenecks has been at the early stages of innovation. Turning research results and intellectual property into viable start-ups has been complex and slow, especially in health and life sciences. Technology transfer offices, universities, and start-up support organisations have played a key role in this process, but they have not always had the capacity or investment experience needed to build strong venture pipelines. At the same time, many local investors have had limited exposure to HealthTech and deep tech, while international investors have often been hesitant to invest in regions they did not know well.

The project was created to respond to these challenges by strengthening both sides of the ecosystem. Its overall objective was to build more robust early-stage investment pipelines in modest and moderate regions by supporting technology transfer offices and start-up support organisations, improving investor knowledge of healthcare and deep tech, and creating structured exchange between local and international investors. By reducing fragmentation and increasing trust across regions, the project aimed to make it easier for health and life science innovations to move from research to investment and, ultimately, to real-world use.

In the longer term, the project is expected to have contributed to stronger and more balanced innovation ecosystems across Europe by helping underrepresented regions connect to wider investor networks, improve venture quality, and attract greater cross-border interest in HealthTech and life sciences.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The project carried out a series of activities to strengthen early-stage health innovation ecosystems in Central and Eastern Europe. The work combined ecosystem analysis, capacity building, investor engagement, and targeted support to early-stage ventures.

The first phase focused on understanding ecosystem needs. Technology transfer offices, universities, and start-up support organisations were mapped across Europe, and structured interviews were conducted with institutions from both less connected and more dynamic regions. This work identified gaps in venture-building capacity, investment readiness support, and access to investor networks. In parallel, investors were mapped and engaged, and a structured investor needs survey and roundtables were carried out to better understand barriers to investing in healthcare and deep tech, particularly in cross-border contexts.

Based on these insights, the project designed and delivered a capacity-building programme for TTOs and start-up support organisations. A structured syllabus was developed and piloted in two cohorts, combining workshops, practical assignments, and peer exchange. An additional 35 innovation trainers were upskilled and applied the EIT Jumpstarter methodology to support venture-building and entrepreneurial matching approaches within their institutions. These programmes supported organisations in identifying market opportunities, strengthening commercialisation practices, and improving their ability to guide early-stage teams.

The project also delivered targeted activities for investors. Training sessions and exchange formats were organised to increase understanding of healthtech markets, regulatory considerations, and investment practices. These activities brought together local and international investors and enabled structured dialogue on deal evaluation, risk, and cross-border collaboration.

In addition, the project supported early-stage ventures directly. A competitive pan-European call resulted in 25 start-ups selected from Central and Eastern Europe. These ventures received tailored investment-readiness support, including expert-led sessions, mentoring, and pitch feedback. Eight high-potential health ventures received more intensive de-risking and internationalisation support, focusing on business model clarity, market readiness, and regulatory positioning.

By the end of the project, concrete outcomes included a trained cohort of innovation support professionals, improved investor understanding of healthtech markets in the region, a screened and supported pipeline of early-stage ventures, and strengthened connections between local and international actors in less connected innovation ecosystems.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The project went beyond existing practice by working with multiple stakeholder groups in a coordinated way, including technology transfer offices, start-up support organisations, investors, and early-stage companies. Activities were designed to address both the development of innovation assets and the investment conditions needed to bring them to market, linking venture building, investor readiness, and dealflow development within a single approach.

Rather than offering generic support, the project based its activities on identified stakeholder needs. Ecosystem analysis informed the design of capacity-building activities for intermediaries, investor education formats, and tailored venture support. This ensured that support for asset development, venture building, and investment readiness was aligned across the innovation and investment chain.

The project also adapted and transferred existing tools and methodologies across different stages of the pipeline, from early-stage asset evaluation to investment readiness and de-risking. By applying and testing these approaches in modest and moderate regions, the project demonstrated how proven methods can be reused and combined to strengthen health and deep-tech innovation pipelines and improve their connection to investment.