Venturing from the lab to the market
A Danish start up business has just launched its first product for the nutritional supplement market. This huge step was made possible thanks to financial support from the European Union.
With huge investment needs during the development phase, penetrating the food supplement market is no easy step. The Danish small business Fluxome managed to take the leap: its first product is currently being evaluated for launch in the US. The dietary supplement combining natural ingredients and controlled production processes could be used to improve cardiovascular health.
To take this product from the lab to the market, the EU made funding available via the European Investment Fund. A total of €23 million in venture capital was made available over the last 10 years to help the business through the critical start-up stage. The innovative type of financing proved successful in taking Fluxome to the next level. “You need money, as well as the good idea, to bring it all the way through,” explains Jarne Elleholm, Chairman of Fluxome. “Without that they would not have been able to create a company which today has proven itself by launching its first product.”
The next step will be to secure another €14 million in venture capital to expand further. Several other products are already in the pipeline.