Nerve Vision: a case of internationalising an innovation
Nerve Vision was established as a spin-off of NRGsys, which develops tailored healthcare software solutions. Nerve Vision is using proprietary software developed by NRGsys, to run a post-processing software platform creating 3D reconstruction and segmentation of peripheral nerves from standard MRI acquisitions.
The founder of NRGsys software (from Italy) created a spin-off together with the product developer and risk manager (from Canada), and thus the Italian technology took advantage of this collaboration through the technology incubator Jlabs in Toronto (owned by Johnson & Johnson), where they received support services for competitiveness and internationalisation also by public bodies (Ontario CIMTEC and MaRS).
Additionally, the Government of Ontario has financed the participation in trade fairs of international importance.
Through the cooperation and establishing a spin-off, the Italian company NRGsys was able to access the Canadian support mechanisms for SMEs.
First round 2012-2015: 450k€
Current round 2017-2020: 3.4M€
Support organizations: CIMTEC – Ontario organization for hardware and software innovation support; MaRS Innovation - early-stage seed investing for companies and technology emerging; Johnson& Johnson – Jlabs Innovation partner
Evidence of success
During the first step the NerveVision project was funded with 450k€ by Jlabs.
The Nerve Vision project achieved an important result: it received the FDA 510k authorization in 2012.
Potential for learning or transfer
This successful experience shows the importance of collaborating with foreign business partners and entering joint ventures, such as establishing a joint spin-off to reach international markets. The spin-off was therefore able to access the support mechanisms of Canada, which could also be transferred to EU on regional level.