Innovation in European healthcare – what can Sweden learn? - LIF

Financing the development of innovative devices: failed attempt to
create a public/private fund to finance sector-specific R&D:
InnoMedTech
• Replicate the existing InnoBio venture
fund specialised in the development of
innovative drugs
• Created in 2009, EUR 139 million
– 37% public money
– 63% from the pharmaceutical industry
• InnoMedTech. Created in 2012, the fund
did not succeed in attracting private
contributers (medtech).
• Reasons for failure
– Lack of large national players, specialised
in medical devices, willing to contribute
– Minimum required contribution to the funds
were too high
– Lack of general interests: freeriding
issues. Manufacturers already have inhouse
R&D
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