Pryv receives 400’000 CHF from the Foundation for Technological Innovation (FIT)

We are glad to announce Pryv was selected by FIT to benefit from the early loan, provided for the growth of selected companies.

CHF 400’000 for Pryv

The Foundation for Technological Innovation (FIT) has granted an early loan of CHF 400’000 to the EPFL startup Pryv and its innovative eHealth and personal data management solution. early loans target young companies in phase of commercial development and looking for funds with private investors. Companies need to be based in the Canton of Vaud. With this new loan, which adds up to the 195 other loans given to innovative projects since 1994, the FIT carries on its mission to support technologically advanced startups in western Switzerland. Other condition, the selected projects need to have a collaboration with a university or a School of higher education in western Switzerland.

Pryv: Compliant and comprehensive management of personal and health data in the digital era

The digital revolution has hit many domains today, some of which are still very sensitive in terms of security and privacy, such as in healthcare. This is why eHealth, which combines life science, medicine and IT technologies, needs more secure and efficient patient data management solutions. The revolution is on thanks to the EPFL startup Pryv. It developed a software with a novel data model and dynamic consent management that ensures the availability as well as the compliant usage of sensitive data. It enables health actors (such as pharma, hospitals or insurances) to deploy their own data management systems fast, and ensure that all applicable industry and data privacy regulations are respected. Other revolution: the digital solution of Pryv puts the patient at the center of the system, where he or she can manage his or her own personal data bank.

Standing for privacy, Pryv and its product Pryv.io should see the birth and the growth of interdisciplinary and cross-borders projects, where sensitive, health and personal data will be collected, stored and shared without confidentiality threats, with the control of patients. Today at a crucial phase of its development, Pryv was able to confirm its commercial model introduced in 2015, validated and based on years of firsthand research, market analysis and product development, which started in 2012. The startup raised CHF 1.1 million in October 2017. The CHF 400’000 worth early loan from the FIT will help the young company grow steadily as well as secure treasury for the delivery of important orders in a field where sales cycles are rather long, before the next planned financing round in series A.

Contact: Pierre-Mikael Legris, CEO Pryv | office@pryv.com

About the FIT

Created in 1994, the Foundation for Technological Innovation has financed innovative technological projects and startups with 30 million Swiss francs of loans and grants, in total. It provided 195 loans to 161 innovative companies, out of which 150 are still in activity today. These companies have created more than 1000 jobs in total. Innovaud, promoting innovation in the Canton of Vaud, closely collaborates with the FIT in the projects’ pre-selection process, as well as by providing support to the projects’ teams.

Julien Guex | FIT Secretary General | julien.guex@fondation-fit.ch | 021 613 36 34
www.fondation-fit.ch

Download the PR release EN FR