Amsterdam knowledge institutions and ROM InWest sign collaboration agreement for innovation in Life Science Health

The UvA, VU, Amsterdam UMC, HvA and ROM InWest have signed a collaboration agreement on 12 March 2024. The parties are intensifying their collaboration for more entrepreneurship and innovation in Life Science Health (LSH). 

“Because of its knowledge institutions and the Netherlands’ largest academic hospital, Amsterdam is home to the top of Dutch research in the field of health. From the moment ROM InWest was founded two years ago, a great opportunity arose to join forces and put LSH’s entrepreneurship and innovation capacity on the map in this region and beyond. By signing of the agreement today, the starting signal has now officially been given,” says Arjen Brussaard of Amsterdam UMC. 

Keeping health care affordable through innovation 

The initiators believe that  it’s necessary to bring knowledge to market more quickly and effectively to keep health care both accessible and affordable. Janet Nieboer, CEO of ROM InWest: “Healthcare is at a standstill due to the high costs and the shortage of staff. At the same time, there is a lot of knowledge to combat or prevent diseases. We need entrepreneurs to convert this knowledge into innovative treatments or products that can be used on a large scale. Already, 25% of the companies that contact us are LSH startups and we expect this to only increase.” 

Calling for investments 

Today, the partners are therefore calling on public and private investors to invest more in start-up LSH companies from the Amsterdam Metropolitan Area. 

So far, investments in these types of startups are lagging behind compared to other regions. The initiators cite the lack of “patient” capital as an important cause. Due to the required certification and the complexity of the sector, developing and introducing innovations requires long-term capital. A new fund can help bring activity up to standard, as can more public-private partnerships. So-called accelerator programs that help entrepreneurs scale up their innovation can further strengthen this. 

About the collaboration 

Amsterdam UMC, Amsterdam University of Applied Sciences, University of Amsterdam, Vrije Universiteit Amsterdam and the joint knowledge transfer office Innovation Exchange Amsterdam (IXA) are joining forces with ROM InWest. By sharing information, developing joint initiatives and “Venture building” programs, they strengthen the relevant ecosystem of knowledge and innovation development, entrepreneurship and financing. The aim of the collaboration is to obtain more economic and social value from knowledge and innovations in the field of sustainability, digitalization & AI and Life Science Health. 

Press release in Dutch