Objective
UgenTec is an award winning Belgian bio-IT start-up that develops software for automated and standardised analysis of DNA detection tests. Founded in 2014, it is venture backed and as raised a capital of €3.45 million. The company is led by Wouter Uten and Tom Martens, both with a track record in successful business development. UgenTec has a contracted revenue of €427.000 a team of 24 software engineers, data scientists and molecular biologists and is supported by Deloitte, IMEC, KU Leuven university, EIC-ICT labs and Microsoft Innovation Centre Flanders.
Public health expenditure in the EU continues to rise with projected growth at 8.5% of GDP in 2060, driven by an ageing population and associated rise in chronic diseases and the promotion of personalised healthcare, demanding molecular information. This highlights an increasing need for automation in molecular diagnostics, including software solutions for interpretation of results. The market for genetic analysis software will grow substantially at 6.9% CAGR already by 2018. There is a clear market pull for automated solutions: as genetic testing volumes are growing every year and quality standards become stricter, the lab budgets are coming under pressure. As a disruptive innovative solution to this problem, UgenTec has developed the FastFinder software platform, advancing state of the art artificial intelligence and machine learning algorithms to automate the interpretation of results in the genetic testing workflow. FastFinder USP allows interpretation 30 times faster than manual interpretation and removes human errors that can lead to serious – and often costly – implications in treatment decisions for patients. Platform application potential extends beyond a clinical setting, (e.g. pharma, food safety) boosting commercial gain. This innovation has a revenue potential for UgenTec of over €100 million within 10 years coupled to the hiring of 100 additional highly skilled employees.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences software
- medical and health sciences health sciences public health
- natural sciences biological sciences genetics DNA
- engineering and technology other engineering and technologies food technology food safety
- natural sciences computer and information sciences artificial intelligence machine learning
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
MAIN PROGRAMME
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H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-SMEInst-2016-2017
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
3500 HASSELT
Belgium
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.