This highly competitive grant of E2.4 million (US$2.85 million) was awarded to RSP Systems, to assist in the continued development of our non-invasive glucose monitoring technology. .
This grant is funded under the Horizon 2020 SME (Small and Medium-sized Enterprises) instrument, phase 2 by the EU. It lists under project number 738973. The project runs from March 2017 through to August 2019.
News article about RSP grant (external link)
Stefan Ovesen Banke, co-founder and CTO of RSP Systems A/S, noted:
Being awarded this grant is our reward for consistently focusing on the challenges of applying Raman Spectroscopy for the quantification of analytes in living tissue. The eventual part of the journey is a plan to apply for our prototype for market to be cleared for market introduction. The Horizon grant is a noteworthy facilitator to achieve our goals. Due to the strict selection process we have undergone, it is also a strong endorsement of our company and technology.
The SME instrument is a financial flagship initiative funding innovative and potential SME projects. Thereby it globally promotes the competitiveness of the European Union. The initiative holds promise for innovations, inventions and pioneering discoveries. By grant received from H2020, RSP Systems can dedicate and unify multidisciplinary expertise in the development of the glucose device. Launching a truly non-invasive blood glucose monitoring device on the market will radically influence daily diabetes management strategies. Affecting millions of people worldwide, it will eventually impose a major positive impact on screening methodologies and healthcare expenses.
In order to deliver necessary cardinal results, our project is organised into several specific activities which include optical technology, software development, clinical validation, marketing, and dissemination, as well as project management. RSP Systems will continuously strive to deliver state of the art technology and cutting edge performance with a clear objective of delivering our device to the market.