The DCB Open Innovation Challenge is back! (Video: The finalists of 2021 and the award ceremony)

More than 537 million people worldwide are living with diabetes. For those affected, it is a constant challenge that affects their everyday lives. Technological innovations play an important role in making it easier to cope with diabetes. Examples include innovations such as technologies that make it easier to measure glucose levels, and even apps that let you plan the amount of insulin you need . However, despite these enormous advances in diabetes technology, there is still a great unmet need for innovative technical solutions. All such solutions should be aimed at helping to reduce the everyday challenges that diabetes poses and at achieving lasting improvement in quality of life for people with diabetes.

Two categories: “Diabetes Devices” and “Digital Diabetes”

The first Open Innovation Challenge, which ran in 2021, focused on glucose measurement. The start-up GlucoSet, which developed a glucose measurement system for intensive care units, was named the winner. In this latest Innovation Challenge 2022, there are two categories. One is for medical devices such as insulin pens, insulin pumps or sensors for continuous glucose measurement. The other is for digital solutions such as apps for diabetes management, such as apps for monitoring glucose levels or nutrition, or for connecting with other people with diabetes.

The “Diabetes Devices” category will kick off at the beginning of March 2022 and the “Digital Diabetes” category will open at the beginning of August 2022. After progressing past the first round and receiving feedback from the expert jury, the top 20 companies will join a mentoring program. Later, the top three companies will be invited to an innovation bootcamp that is specifically tailored to their needs. On November 30, 2022, the winning project will be selected by an international jury and rewarded with USD 100,000, along with additional support such as coaching. The second and third place winners will receive USD 60,000 and USD 40,000 respectively. This makes the DCB Open Innovation Challenge one of the world’s most generous international awards in the field of diabetes. Applications are open to start-ups, medical and research professionals, and individuals.

Closing gaps with a translational approach

The Swiss Diabetes Venture Fund (SDVF) will be managed by the investment arm of the SSUG, and benefit from the skills, networks and levers of its three General Partners: Simon Michel who will bring his experience as CEO of the Ypsomed Group, Derek Brandt as CEO of the DCB with his global reach in the diabetes ecosystem, and Mike Baur, CEO of SSUG, pulling on the resources and experience of SSUGs 6-year track record in building up the largest Swiss venture platform.  

comments Simon Michel on the establishment of the dedicated fund. 

“We are proud to officially launch the Swiss Diabetes Venture Fund as the first themed fund in our multi venture fund strategy announced past February,” said Mike Baur, CEO of SSUG. “Switzerland is a global hub for innovation and Healthtech startups and offers promising opportunities for proactive corporates to boost their innovation agenda through targeted acquisitions. The Swiss Startup Group’s investment experience, channeled through the multi-fund strategy, provides the right platform to execute on highly focused investments delivering high returns. And this is how venture truly becomes a dedicated asset class.” 

Simon Michel (General Partner [GP]), Mike Baur (GP), Craig Cooper (Investment Director), Derek Brandt (GP)

added Derek Brandt, CEO of the DCB. 

Today, 1 out of 11 adults globally suffers from diabetes. The market for solutions and services for people with diabetes is growing epidemically as the International Diabetes Federation (IDF) states. According to the IDF, the number of people living with diabetes will increase over 50% to 700 million people worldwide until 2045. 

About SSUG

Founded early 2015 by venture entrepreneurs Mike Baur, Max Meister and Oliver Walzer, the Swiss Startup Group (SSUG) is today the largest privately financed venture platform in Switzerland. The Group offers its investors advanced venture asset management, and a unique ecosystem and whole lifecycle support to startups. The SSUG has become one of the most active Swiss early-stage investors and has offices in Zurich, Bern, and Lausanne.