{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='One of a kind medical devices... and how EU funding makes them a reality' data-url='/boclips/videos/6878d5d2860c8396ee54d062' data-video-url='/boclips/videos/6878d5d2860c8396ee54d062' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nOne of a kind medical devices... and how EU funding makes them a reality\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eWhat role does tailored financing have in driving innovation? Business Planet looked into the world of medical devices, an industry booming with new solutions to help healthcare professionals and patients. The medical devices industry...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eWhat role does tailored financing have in driving innovation? Business Planet looked into the world of medical devices, an industry booming with new solutions to help healthcare professionals and patients. \u003cbr/\u003e\u003cbr/\u003eThe medical devices industry employs around 650,000 people across Europe. It's an important sector for Europeans, aiding them in finding the right treatments and diagnosis. \u003cbr/\u003e\u003cbr/\u003eOne example of an SME (small and medium-sized enterprises) driving the sector is  Echolight . Echolight has created a non-invasive technology to scan people at risk of developing osteoporosis. It can determine if people are in the early stages of developing the disease through a scan of around a minute which builds up a clear picture of the spine and femur. With Europe's ageing population increasing (by 2016 almost 20% of the EU's residents will be aged 65 or over) new technologies like Echolight are changing lives. \u003cbr/\u003e\u003cbr/\u003eEcholight's CEO and cofounder Sergio Casciaro explained the benefits of his technology: \" In Europe, for example, we have between 3 million to 300 thousand people suffering from bone fractures due to osteoporosis each year. Only 3% of them had done tests to assess their bone health. Most of the victims have fractures without even knowing they suffer from this disease.\" \u003cbr/\u003e\u003cbr/\u003eHe went on to say:  \"This technology is one of a kind and allows us to give a diagnosis when people are still young. We can intervene not only through pharmacology but also by changing lifestyles, diet, sun exposure and physical activities.\" \u003cbr/\u003e\u003cbr/\u003eThe success of the technology is such that it's now being used in several European medical centres. For Echolight this means their turnover has increased fivefold between 2017 and 2016 and they've tripled their staff numbers from 10 to 30 people. \u003cbr/\u003e\u003cbr/\u003eEcholight might not be the success story it is today were it not for the equity financing it received from a venture capital investor which helped fund its main clinical studies. The funder, Panakès Partners, was backed by the EU COSME programme. \u003cbr/\u003e\u003cbr/\u003eWhat is EU COSME? \u003cbr/\u003e\u003cbr/\u003eIt's a quicker way of saying the EU's programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises. It's a huge funding pot of €1.3 billion - set aside for SME financing. \u003cbr/\u003e\u003cbr/\u003eWhy does the funding pot exist? \u003cbr/\u003e\u003cbr/\u003eSince the financial crash, SMEs are seen by the EU as drivers of economic recovery, especially in terms of job creation. However many have struggled to get loans in order to borrow money, which means they've struggled to grow and expand. \u003cbr/\u003e\u003cbr/\u003eWho gets what? \u003cbr/\u003e\u003cbr/\u003eThe money doesn't go straight to SMEs. Instead, the financing goes to banks and funds who make it available to SMEs. The European Investment Fund (EIF) predicts around 330,000 SMEs will receive loans. The average loan per firm is around €65,000.\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=91043943\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Length\u003c/dt\u003e\n\u003cdd\u003e3:01\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003e9th - Higher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;grade_ids%5B%5D=255\u0026amp;grade_ids%5B%5D=256\u0026amp;grade_ids%5B%5D=257\u0026amp;grade_ids%5B%5D=258\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=1319782\"\u003eCareer \u0026amp; 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