Meet Pedro Pedrosa and Sara Baptista, the Faces of Science who lead the InnoValley team.
During the interview, they share their assessment of the initiatives promoted by ITQB NOVA and by the GIMMM, as well as the contribution of the InnOValley Proof of Concept Fund to the development of scientific innovation projects. The interviewees also talk about what plans the future has in store for this project.
What is your assessment of the initiatives and projects promoted by the NOVA Institute of Chemical and Biological Technology António Xavier (ITQB NOVA) and the Gulbenkian Institute for Molecular Medicine (GIMM)?
As part of the City Council’s strategic cornerstone of Innovation, in 2021 Oeiras created a shared unit for the valorization of ITQB NOVA and GIMM knowledge, InnOValley, which has been fundamental to the growth of both scientific research institutes and in solidifying their performance and success indicators, many of which were almost non-existent until then. Of these indicators, the increase in the number of patents submitted in 2023 to almost 3 times the previous year’s number is particularly noteworthy, reflecting the intensity of innovative activity at ITQB NOVA and GIMM. The volume of private funding for research has also increased, making it possible for more scientific projects to be carried out. In 2023 alone, InnOValley helped these two institutes obtain approximately EUR 1 million in funds to finance science and innovation. This growth is largely due to the intensification of partnerships with the national and international business sectors, resulting in strategic relationships that strengthen the ideal ecosystem for the progress of life sciences around Oeiras.
How do you interpret the contribution of the InnOValley Proof of Concept Fund to the development of scientific research projects?
Internationally, the implementation of funding programs for proof of concept is a common practice, but unprecedented in Portugal until 2021. The InnOValley Proof of Concept Fund, a pioneer in Portugal, co-financed by the City Council of Oeiras, ITQB NOVA and GIMM, is one of InnOValley’s core programs. As a catalyst for the Institutes’ daily activity in terms of innovation and creating value, the fund is meant to serve and boost the life sciences innovation ecosystem in Oeiras. Totaling EUR 200,000 per year, the fund is designed to support up to four scientific projects with the potential to be translated into practical applications, financing their technological maturation. The indicators of success have been remarkable, particularly in the growing quality and number of applications submitted and in terms of additional international funding (EUR 250,000 in 2023), which has come to exceed the value of the fund. This serves as an incentive for scientists to work on a more applied aspect of their research. As the Knowledge Enhancement and Technology Transfer Unit that we are, the number of patents submitted in 2023 (11 applications) has also led us to the portfolio of translational projects we have today: more than 50 in just 3 years. It should also be noted that after the first edition in 2021, the InnOValley Proof of Concept Fund went beyond the borders of the scientific institutes involved – several universities in Portugal replicated the Oeiras model, launching proof of concept programs similar in nature, scope and strategic design. This shows the disruptive potential and positive impact of local government support for scientific and technological progress to happen at regional and national level.
What goals are in sight for the future of this program?
The value of the InnOValley Proof of Concept Fund is now recognized and unquestionable if we look at the visibility of InnOValley, the scientific institutions we support, and the Municipality of Oeiras, attracting more talent and investment to the region. The way forward is to further support innovation of excellence, doing more and doing it better. To this end, we aim, in the near future, to (1) expand this initiative to other academic and research institutions in the Oeiras region, (2) encourage companies to co-finance the Fund, helping in getting more national and international investment for innovation, (3) link this program with other programs in the municipality, such as entrepreneurship training for the winners of the program, (4) increase the number of technology-based companies created by the program and (5) increasingly turn science and technology into driving forces of the local and national economy.
What do you think of the investment the Municipality of Oeiras puts into Science, Innovation and Technology?
In crucial areas such as health, energy and agriculture, the cycles of return on investment in science and technology are usually long, and it can take a decade or more for a discovery to translate into a benefit for society. The continuous and consistent support of the Municipality of Oeiras reveals a nationally unparalleled strategic vision. It shows how innovation in science and technology is considered to be one of the fundamental cornerstones for the socio-economic development of the region. In the medium and long term, this will allow for Oeiras to be put on the map, internationally, when it comes to Innovation in Life Sciences, promoting the region’s competitiveness and rendering it even more appealing to people and companies.
What other area would you like to see the Municipality of Oeiras invest in?
Oeiras City Council was a pioneer in Portugal when it launched its political agenda with “1% of the municipal budget for science”. This investment is based on three cornerstones: Education and Society, Innovation, and Internationalization. One of the main areas lacking investment in Oeiras (and nationally) is in start-up incubators in the life sciences area. It is essential to create the conditions for promising start-ups to find exactly what they need to establish themselves in Oeiras. Who wouldn’t like to witness the next unicorn being born in Oeiras? And to be able to say that this is where it found the best conditions to establish itself. To do this, we need to create infrastructures, services and support networks, and above all: to attract talent. Because great ideas need great people to put them into practice!
