ELDICO secures a further 100,000 Swiss francs thanks to a successful pitch in the third and final round of the start-up support programme Venture Kick. The fund will help to further accelerate product development and intensify sales activities.
ELDICO has successfully completed the third and final investor pitch of the Venture Kick organization and will receive a further CHF 100,000 after CHF 10,000 and CHF 40,000 from the first and second round. This brings the maximum possible amount of CHF 150,000. Venture Kick is one of the largest Swiss start-up support programs, annually supporting innovative start-ups with investment funds in a competitive three-stage process. The winners are chosen by top-class juries made up of experts from various sectors and experienced investors.
Additional boost to product development
“The development of our prototype is running at full speed and with this investor money we are able to give product development an additional boost and to intensify our marketing and sales activities,” says Dr. Eric Hovestreydt, founder and CEO of ELDICO Scientific. Together with an international partner consortium and a 20-member development team at the suppliers side, ELDICO is working on bringing the first electron diffractometer onto the market at the beginning of 2021.
A big thank you to Venture Kick. “The repeated pitching sessions in front of the juries help to improve and streamline our presentation and pitch”, says Eric Hovestreydt, CEO, “Our technology is not trivial to explain to non-scientists, which is a necessary thing to attract investors. The Venture Kick experience, with its manifold feedback, helped us to focus on our mission and shape our messaging, Eric says.
Another milestone for ELDICO
Succeeding at the Venture Kick program is another step forward. ELDICO recently closed a seed financing round earlier this year. ELDICO has also made significant progress in management. With Dr. Martin Haase an experienced top manager with many years of industrial experience in the field of highly complex, technically demanding analytical and imaging instrumentation, has been recruited to the Board of Directors. And on the scientific side, ELDICO is now being supported by a top-class scientific advisory board of leading scientists and pioneers in electron diffraction.