Business Development by the Federal Ministry of Education and Research
For the first time, Midas Pharma was able to receive business funding from the German Federal Ministry of Education and Research for two internal projects.
The certificate according to § 6 FZulG in conjunction with § 5 of the Research Grants Certification Ordinance (FZulBV) was issued for the following research and development projects for which the requirements of § 2 (1) to (3) FZulG were fulfilled:
- A project from the in-house development of Midas.
- A project in collaboration with two universities from Germany.
Midas Pharma was able to gain important insights during the submission and evaluation process. The following factors are crucial for success:
- Project with high risk and low chances of success
- Scientific publications / cooperation with renowned universities and key opinion leaders
- Detailed project structure
About the funding of the Federal Ministry of Education and Research:
The Federal Ministry of Education and Research supports innovative projects and ideas in research through targeted funding programs. In addition, from January 2020, the German government will be funding companies that are active in research and development. Innovative small and medium-sized companies will be addressed with specific funding programs. The funding rate is to be 25 percent of personnel costs. The maximum funding amount is to be limited to 500,000 euros per company and year. In this way, the financial risks of research and development activities can be significantly reduced.