Three Geneva Tech Projects awarded FIF Funding

The FONGIT Innovation Fund (FIF) fosters innovation and the scale-up of promising companies from the Canton of Geneva that are working towards the United Nations Sustainable Development Goals (SDGs). The FIF is supported by the State of Geneva, the Fondation Genevoise pour l’Innovation Technologique (FONGIT), the Geneva Chamber of Commerce (CCIG), the United Nations International Trade Center (ITC) and the United Nations Environment Agency. 

The FIF supports innovative technological startups and scale-ups at different stages of their journey with three types of financing options: the FIF Grant (up to CHF 50,000), the FIF Seed Loan (up to CHF 100,000) and the FIF Growth Loan (up to CHF 400,000).
 
Grant of CHF 50,000 awarded to Azure Cell Therapies
 
Every nine minutes, a patient is diagnosed with Parkinson’s disease. Azure Cell Therapies has been granted CHF 50,000 to further their work unlocking next-generation cell therapies for this debilitating disease. Emerging from the University of Geneva, this promising startup is led by co-founder and CEO Dr. Bilal Fares, PhD-MBA and focuses on developing personalized cell-based treatments with unmatched counterparts in development.
 
Grant of CHF 50,000 awarded to FireFly Fusion
 
A CHF 50,000 grant has been awarded to FireFly Fusion for developing nuclear fusion technology for sustainable and clean energy. The startup is spearheaded by co-founders Rustem Ospanov, PhD, who worked as a particle physicist at CERN for 15 years and Justin Ball, PhD, who worked as a fusion scientist at EPFL for 8 years. FireFly Fusion is pioneering the development of standard tokamaks to pave the way to fusion energy.
 
Seed Loan of CHF 100,000 awarded to Antion Biosciences
 
University of Geneva spinoff Antion Biosciences has been awarded a CHF 100,000 Seed Loan to support their cutting-edge proprietary gene engineering technologies. Headed by CEO Marco Alessandrini, PhD in Biochemistry and CFO Gérald Thomé, MBA, Antion Biosciences focuses on making advanced cell and gene therapies safe and widely accessible for treating complex diseases.
 
Applying to the FIF
 
The FIF meets several times a year to evaluate and award startups with funding, supporting local innovation that has a far-reaching impact on both the market and society. The next deadline to apply for the FIF is May 15th, 2024. Entrepreneurs may learn more and apply here .

Image: Dr. Bilal Fares, PhD-MBA, CEO and Co-Founder of Azure Cell Therapies